National ATMs
No Payments for 90 Days
Apply today for new, used, or refinanced auto loans and cruise payment-free for 3 months!
Drive down payments with an auto loan from Magnifi
- New, used or refinanced
- Local service and expertise with Magnifi's friendly and knowledgeable team
- Apply in 5 minutes or less
- Same-day financing available upon qualification
- Flexible options to fit your budget and lifestyle
Rates
Effective Date: November 13, 2024
| Loan | Rate as low as | APR as low as |
|---|---|---|
| Vehicle (2020 & newer) | 4.79% | 4.99% |
| Vehicle (2016 - 2019) | 5.99% | 6.19% |
| Vehicle (2014 - 2015) | 6.99% | 7.19% |
| Vehicle (2013 - Older) | 7.24% | 7.44% |
Membership qualification is required. Loan fees apply. Rates are subject to change at any time and are based on creditworthiness. Loan payment and Annual Percentage Rate (APR) will vary based on the loan amount, term, collateral, and any fees. Rates include a 0.50% discount for automatic loan payment from a Magnifi account. Minimum APR loan payment example: $25,000 for 36 months including a $75 doc prep fee will have a 4.99% APR and a $746.56 monthly payment. Maximum term varies based on credit score and loan amount.
What To Expect
-
Get Pre-qualified
After you apply, we'll contact you to get you pre-qualified for a specific loan amount.
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Go Shopping
Now for the fun part... go find your perfect vehicle that fits your pre-qualified loan amount!
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Drive Home Happy
Drive away knowing you got the best loan available from your local credit union.
Vehicle Affordability Calculator
Find out how much you can afford.
Monthly Payment: $226.47
Number of Payments: 36
Total Payments: $8,152.89
Total Interest: $652.89
Frequently Asked Questions
Sometimes, sometimes not. If you have already found your vehicle to purchase, we can set up financing right away and you won't need a pre-qualification letter. However, if you get pre-qualified and then shop around for vehicles, we'll send you a pre-qualification letter to bring to dealerships. Some dealerships may also contact us to confirm financing as a business practice.
Your pre-qualification offer is typically valid for 60 days with Magnifi Financial. If we have not heard from you about purchasing a vehicle within those 60 days, then your loan application will be closed and you will need to re-apply if you decide to obtain financing after the expiration date.
That's great! Go ahead and fill out an application and we'll help you get the financing together as quickly as possible. If you are working with a dealership, we'll just need the Purchase Agreement and Insurance Card. Our lending staff will help walk through everything with you to get you on the road faster.
We have several methods for you to make your loan payments:
- Magnifi Digital Banking or Mobile App: Transfer funds from your Magnifi or external checking/savings account into your loan account.
- Online: Use our online loan payment system to set up a single or recurring payment with your debit/credit card or routing/account number.
- Mail: Send a check to PO Box 325, Sartell, MN 56377. Please include your Account Number and Loan ID. You will not receive a payment receipt by mail but you can verify the transaction within Digital Banking.
- Branch: Visit any Magnifi location to make a payment.
You can avoid paying as much interest if you make larger or additional payments on your vehicle loan. This will pay down the principal of the loan which means you pay less interest and you could pay off your loan quicker. However, this does not advance your due dates. Meaning, if you make twice the payment amount one month, you will still need to make a payment on the same due date the following month.
Extra Protection
Get additional protection with GAP (Guaranteed Asset Protection) & Route 66 Extended Warranty.
Learn More
Get Started
Schedule An Appointment for a Virtual or In-Person Meeting
Other Loan Options
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering
activities, Federal law requires all financial institutions to obtain, verify, and record
information that identifies each person who opens an account.
What this means for
you: When you open an account, we will ask for your name, address, date of birth, and
other information that will allow us to identify you.
We may also ask to see your driver’s
license or other identifying documents.
Membership qualification is required. Loan fees apply. Rates are subject to change at any time and are based on creditworthiness. Loan payment and Annual Percentage Rate (APR) will vary based on the loan amount, term, collateral, and any fees. Minimum APR loan payment example: $25,000 for 36 months including a $75 doc prep fee will have a 4.99% APR and a $746.56 monthly payment. Maximum term varies based on credit score and loan amount.
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
