New Auto Loans
Drive off in something new
Rates as low as 4.09% APR on new vehicles, terms out to 72 months, and a decision the same day you apply. Pre-qualify first and see your real rate without touching your credit score.
Why members finance here
Summit has been lending on cars since 1948. The terms below are the ones we quote every day, not a teaser reserved for perfect credit.
Rates from 4.09% APR
Our best new-auto rate on terms up to 60 months, with a 0.25% discount for members who set up automatic payments from a Summit checking account.
Pre-qualify with no credit impact
We use a soft inquiry to show you the rate, amount, and term you qualify for. Your score is untouched until you decide to move forward.
Same-day decisions
Applications submitted before 6:00 p.m. on a business day get an answer that day. Most members hear back in under an hour.
Terms to 72 months
Stretch the payment when you need to, or keep the term short and pay less interest. There is never a penalty for paying ahead.
New auto rates and terms
Rates shown include the 0.25% automatic payment discount. A new vehicle is a current or prior model year with under 7,500 miles.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
From application to keys
Most members finish the paperwork before they ever set foot on a lot.
Pre-qualify online
Answer a few questions about income and the vehicle you have in mind. The soft pull takes about two minutes.
Get your decision
You will see the amount, rate, and term you qualify for, along with an estimated monthly payment.
Shop with a check in hand
Approved members can request a Summit draft good for 45 days, which puts you in the same position as a cash buyer.
Sign and drive
Send us the bill of sale and title work. We fund the dealer directly and your first payment is due in 45 days.
Common questions
Does pre-qualifying really not affect my credit?
Correct. Pre-qualification uses a soft inquiry, which is visible only to you and never factors into your score. A hard inquiry happens only when you accept an offer and submit a full application.
What counts as a new vehicle?
A current or prior model year vehicle with fewer than 7,500 miles that has not been titled to a retail owner. Demonstrator and courtesy vehicles usually qualify; ask us before you sign.
How much can I borrow?
Up to 125% of the vehicle's MSRP or invoice, which leaves room for tax, title, and an extended service contract. The maximum loan amount is $125,000.
Can I use a Summit loan at any dealership?
Yes. We fund franchise and independent dealers nationwide. You can also ask the dealer's finance office to write the contract with Summit as the lender.
Is there a prepayment penalty?
No. Interest is simple and calculated daily, so every extra dollar you send goes straight to principal and shortens the loan.
Do I need to be a member before I apply?
You can apply first and join at closing. Membership takes a $5 deposit into a share account, and that share makes you an owner of the credit union.
See your rate before you shop
Pre-qualification takes about two minutes and leaves your credit score exactly where it was.