VyStar Credit Union Review

Originally tagged as Jax Navy FCU, VyStar was founded in 1952 to serve military and civil service employees at Naval Air Station Jacksonville, as well as their families. The credit union became VyStar in its 50th year anniversary. Based on its Annual Report in 2019, VyStar Credit Union has more than 696,000 members with assets worth $9 billion.

Best for

4 /5

Rating

$ /mo

Starting Price

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Table of Contents

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How do VyStar Credit Union auto loans work?

VyStar offers a wide range of auto loan products. The terms and rates depend on the type of the vehicle and its model year. APRs are as low as 2.74% but actual rates may vary. If you apply for a loan, you’ll need to provide certain information for some loan types, such as the vehicle year, model, mileage, and make.

Credit score

The minimum credit score requirement wasn’t specified. It did mention, however, that rates are based on the evaluation of a member’s credit history.

How much can you borrow?

There’s no minimum loan amount stated. However, based on the published list of rates and terms, applicants can borrow a minimum of $14,000 (for 61 to 72-month terms) or $25,000 (for 73 to 84-month terms).

What types of vehicles are eligible for financing?

Loan types include new and used cars, older model and classic vehicles, ATVs, boats, large boats, motors and trailers, personal watercraft, motorcycles and scooters, RVs and motorhomes.

How do I qualify?

Most residents in Florida and southeast Georgia as well as their families can apply for membership. The basic qualifications are:

At least 18 years old
A U.S. Citizen or Resident Alien

What documents do I need?

The requirements for membership are:

Social Security Number
S. Driver’s License, Passport, State ID, or Military ID
Online banking login credentials

What are the fees?

$5 is required for initial deposit. The loan fees include a return loan payment or return check ($32) and account research and reconciliation ($25 per hour). There’s no mention of a loan application fee or prepayment penalties.

How long does the loan process take?

The online application only takes a few minutes to complete. While it’s not stated how long the approval takes, the estimated time to wait is between one to three business days.

How to apply for an auto loan?

Borrowers can apply online, in person at any branch, over the phone, or at one of the credit union’s participating dealers.

What payment methods are supported?

These are some of the loan payment options provided by VyStar:

Internet Banking
Automatic Funds Transfer Service (AFTS)
By phone
By mail

VyStar Credit Union Pros And Cons

Pros

Number one used auto lender in Central to North Florida
Second largest credit union in Florida

Cons

Mostly available to residents in Florida and Georgia only
Restrictions may apply to loans based on a borrowers’ credit history

Is VyStar Credit Union right for you?

VyStar has a wide array of auto loan products. It offers competitive rates and quality financial services. However, not everyone can apply for membership at VyStar. If you’re shopping for an auto loan, try MyAutoLoan.

It can help simplify your research since it has tools available to match your information to several lenders.

In a few minutes, you'll be presented four lenders that best match your credentials. Plus, it’s available in 48 states.