Justice Federal Credit Union

Justice Federal Credit Union was started in 1935 when 12 employees of the Department of Justice pooled together their resources in order to lend to each other at low interest rates. Today, the credit union is open to all employees of the Department of Justice and a number of law enforcement agencies across the country.

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How do Justice Federal Credit Union auto loans work?

Interest rates on auto loans start from as low as 2.44% and repayment terms can extend to 84 months.

Interest rates will vary depending on your credit rating and will be a little higher if you’re financing a used car.

Credit score

Justice Federal doesn’t state its minimum credit score requirement as each application will be considered individually.

However, to access low interest rates, you’ll need a good score of around 740.

How Much Can You Borrow?

The minimum you have to borrow is $2,500, however, if you’re financing for 72 months you’ll have to borrow at least $15,000.

You can borrow a maximum of 115% of the market value of the vehicle you’re buying.

What types of vehicles are eligible for financing?

You can finance cars, recreational vehicles, motorcycles, and boats.

How do I qualify?

You’ll need to be a current or former employee of the Department of Justice or associated law enforcement organizations.

This includes institutions like the FBI, DEA, ATF and the US Attorney’s Office.

A full list of associated agencies can be found on the website.

What documents do I need?

Required documents aren’t listed on the Justice Federal website, however, auto loans generally ask you to provide at least one form of photographic ID, such as a passport.

What are the fees?

There are no early repayment fees, however, you’ll need to confirm directly if any missed payment or origination fees will be charged.

How long does the loan process take?

Once you’re a member and registered for online banking, you can apply for your loan via the member portal.

This process should only take a few minutes. Approvals can be instant, and the money will be with you within 24 hours.

How to apply for an auto loan?

The easiest way to apply is via the member portal online.

If you prefer, you can apply over the phone or in-person at one of 27 branches across the country.

What payment methods are supported?

Justice Federal states that there are flexible repayment options, but doesn’t go into detail.

Usually, auto loans will be repaid via monthly auto-payments from your checking account.

Pros and Cons

Pros

Low interest rates on offer
Long repayment terms available
Additional benefits available to members

Cons

Auto loans are only available to the Department of Justice and law enforcement employees
Late payment fees aren’t completely clear

Is Justice Federal Credit Union right for you?

This Credit Union will be a good choice for those working in law enforcement, as the credit union offers additional benefits and support to members outside of its auto loans.

However, for those not in the world of law enforcement, you’ll need to try a nationwide auto loan provider.

You could give Carvana a try as it has low rates on offer and accepts applications across 48 states.

Capital One is also a good choice if you have poor credit.