Some Things You Need to Know Prior to Applying for an Auto Loan

Car Loan Application

At DOCFCU we will match another financial institution’s interest rate on an approved loan to you. We will match to as low as 1.50%.  Remember to get documentation of the rate from the other financial institution.

We do not finance cars with negative equity and we don’t finance cars over 10 years old.

We have the same interest rate for new and used car loans.

We lend from one to 60 months on new and used car loans.  We lend up to 72 months on new and used cars over $25,000 and up to 84 months on new cars over $40,000.

We typically lend up to 100% of the blue book value of a new car.  We may go to 105% of the value of a used car to cover tags and title as long as you purchase GAP insurance.

We do not lend on salvage vehicles.  (If the car you want to buy was pulled out of the Potomac River we can’t lend to you.)

We lend on private party sales.  That’s where one person is selling their car to another person.  But the paperwork for transfer of title can take up to 30 days to complete.

Our GAP insurance and mechanical breakdown insurance is the best priced in the industry.  Get it from us and save up to 50% on what the dealers will charge you.

GAP insurance pays up to 125% of the NADA book value. Mechanical insurance is set up based on your individual needs.  Call us for a quote but remember you’ll save a bundle on this compared to the dealers.

Autocheck is a cool service we offer our members. Get the VIN number of the used car you’re looking at and then give us a call.  We’ll run the car through Autocheck and it will tell you all about the car.  Things like whether it’s ever been in an accident, has the regularly scheduled maintenance been done on it, has it ever been repossessed or stolen.  We want to make sure you’re getting what you think you’re getting before you buy the car.


  1. John Carston

    I’m researching what I should know before applying for car financing and I found this site to be very helpful. I didn’t know that it possible to loan on private party sales but that opens my options quite a bit. I’ll have to keep your GAP insurance in mind if I end up purchasing a new car since that could save me a lot of money.

    1. The Corner

      Hello Mr. Carston – thank you for your comment! Please be sure to take advantage of our special offer coming up. It’s listed on our site If you have any questions please give us a call at 202-808-3600.

  2. kiyel williams

    That is pretty cool that you offer loans up to 100% of the blue book value. That would definitely make buying a car easier because you would be able to get a car right away rather than spend months saving. I will definitely tell my friend about car loans so he can get a car and continue working. Thank you for the information!

    1. The Corner

      Hello Kiyel! Thank you for your comment. Yes, no need to save! Also, please check out our special offer that’s coming up listed on our site (tell your friends!). We hope that you are a member if not, please give us a call at 202-808-3600 or join online.

  3. Charles Kemp

    I didn’t know that you can get a loan that is up to the value of the car in the blue book. That would be helpful if you were trying to get a brand new car. It also would help just because then you don’t have to worry about paying half of the car right then and there. Most people need a loan for a car anyway.

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