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Coastal Credit Union

Coastal Credit Union Auto Loan Review: Process, Eligibility, APR, and More!

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Coastal Credit Union Auto Loan Review: Process, Eligibility, APR, and More!

Established in August 1967, Coastal Credit Union is a credit union and financing company mainly for members who live or work in North Carolina. This lender offers auto loans for new and used vehicles and also provides refinancing options. The credit union is a member-owned financial cooperative that provides banking services, including savings, loans, and other financial services to members. Membership is also open to the immediate family of current members. Read this Coastal Credit Union auto review to learn more about the services that they have to offer you.


About half of all loan approvals receive interest rates under 3% APR
Simple application and quick approval process
Grace period for late payments (up to 15 days)
90 days to make first payment
Auto refinance guarantee


$5 fee when paying over the phone
Loan eligibility limited to members

Quick Stats

Average Approval Time
Two to three hours
Maximum Loan Amount
Maximum Loan Term
84 months or 7 years
Minimum Credit Score
Minimum Starting APR (Annual Percentage Rate)
Pre-Qualification Valid For
90 days

Coastal Credit Union at a Glance

Founded and established in August of 1967, Coastal Credit Union is a credit union, financing, and banking company that provides various banking services, including savings, loans (and auto loans), and other financial services to members. It is a member-owned financial cooperative that offers loans for new and used vehicles as well as refinancing options. Coastal Credit Union is accredited by the Better Business Bureau (BBB) and has earned an A+ rating. However, it earns 1/5 stars when it comes to customers' complaints, as the BBB website shows 19 complaints closed in the last 3 years and 5 complaints closed in the last 12 months.

The company offers the above-mentioned financing and refinancing services for members only. However, membership is open to the immediate family of current members. Coastal operates 23 branches in central North Carolina and serves members in all 50 states through a network of 5,000 shared branches, 80,000 surcharge-free ATMs, mobile banking featuring mobile check deposits, and a robust offering of online services at

Who Is Eligible for a Coastal Credit Union Auto Loan?

If you are not already a Coastal Credit Union member, you must become a member in order for you to apply for an auto loan. To be eligible for the membership that will get you the auto loan, you must meet one of the following requirements:

  • Be an employee or member of one of the businesses and organizations partnered with Coastal Credit Union
  • Be a member of the North Carolina Sustainable Energy Association (North Carolina residents only)
  • Be an immediate family member of a Coastal Credit Union member
  • Reside or work in one of the 24 cities defined in Coastal Credit Union’s Community Charter

Moreover, your auto loan eligibility will be determined by various factors, including:

  • Your credit history
  • Your finances
  • The specifics of your requested loan

Coastal Credit Union Annual Percentage Rate (APR)

APR or Annual Percentage Rate is the amount of money you pay every single year to take money from a bank or lender, this includes fees that are represented in percentage. APR is considered to be a broader measure of the cost to you of borrowing money since it reflects the interest rate plus the fees that you have to pay to receive the loan.

The Annual Percentage Rate for Coastal Credit Union auto loans varies from one person to another depending on their unique situations, including credit history, credit score, finances, and the amount and term of the requested auto loan. Interest rates range from 2.50% APR to 16.44% APR. To qualify for the lowest rates, you must have an excellent credit score and be applying for a loan on a vehicle that is under five years old.

The Process of Getting an Auto Loan from Coastal Credit Union

Applying for an auto loan with Coastal Credit Union should be an easy and simple process to go through. This section aims to shed light on the application requirements, restrictions, possible financing amount, and more info you need to know regarding the auto loan you are applying to receive.

1. Application requirements

You may apply for a loan from Coastal Federal Credit Union online, over the phone, or in person at a local branch. In order for your application to pass, you will need to provide the following information:

  • Requested loan amount
  • Requested loan term
  • Social Security number
  • Residency information
  • Photo ID (driver's license, passport, military ID, or state ID)
  • Financial information
  • Employment information

2. Restrictions

There is only one restriction regarding the auto loan provided by Coastal Credit Union. Coastal Credit Union does not provide financing for used vehicles that are over 10 years old.

3. Financing amount

Coastal Credit Union offers auto loans starting from $5,000 and up to $20000.

Refinancing Your Coastal Credit Union Auto Loan

If you already have an auto loan from Coastal Credit Union and you want to refinance it. You can refinance the existing Coastal Credit Union auto loan as long as you have had the loan for at least 12 months. Moreover, you can also refinance an auto loan from another lender.

Coastal Credit Union guarantees that you will save at least $100 on your monthly payments as a result. If not, you will receive $200 in cash.

You might want to consider refinancing your current auto loan if the following applies to you:

  • You are making expensive monthly payments
  • You are paying high-interest rates
  • You have a good credit score and could qualify for better loan terms

Coastal Credit Union Customer Service

Coastal Credit Union offers various customer support options to help its clients with their inquiries and issues. The customer support team is available through phone, mail, comments, live chat, secure messages, and in person. You can also explore their Frequently Asked Questions (FAQs) section on their website to look for answers to your questions.

Coastal Credit Union's customer support team is available via phone at 919-420-8000 or 800-868-4262. You can also reach out to their customer support team through mail at the following address:

Coastal Credit Union
P.O. Box 58429
Raleigh, NC 27658

You can find the secure messaging option on their website. You can have all of your questions answered 24/7 with Coastal Chat, available through Online and Mobile Banking! The company is available for in-person support from 7 a.m. to 7 p.m., 7 days a week.

Bottom Line on Coastal Credit Union

Coastal Credit Union is a financing company that offers various banking solutions, including savings, all types of loans, investments, and many more. They offer auto loans starting from $5,000 to $20,000 and accept people with low credit scores, starting from 520. The higher the borrower's credit score is, the lower their APR and interest rate will be; for example, the APR could be as low as 2.50%.

They offer various customer support options, including phone, mail, in person, live chat, and secure messaging. Their website is quite informative as well and contains an extensive FAQs section that answers all the inquiries you might have regarding your membership, account, or auto loans.

What credit score do you need to get a Coastal Credit Union auto loan?
How do you apply for a Coastal Credit Union auto loan?
How can I reach Coastal Credit customer support team?
What is the APR for Coastal Credit Union's auto loans?