Auto LoansAuto Lender Reviews

KeyPoint Credit Union Auto Loan Review

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been previewed, commissioned or otherwise endorsed by any of our network partners.

If you live in the San Francisco Bay Area and are looking for a car loan, a KeyPoint Credit Union auto loan starts at 2.24% APR or lower, offers 100% financing and goes up to terms of 84 months. But those outside of northern California may need to look elsewhere: KeyPoint membership is primarily limited to those who live, work, worship or attend school in nine California counties.

Recent college graduates or those new to the U.S. with little credit could find approval through the credit union’s Starting Point program.

KeyPoint Credit Union auto loans at a glance

For those who qualify for membership, KeyPoint Credit Union offers some of the best auto loan rates available. Its starting APR is the same for new, used and auto refinance loans. KeyPoint CU offers up to 100% financing for vehicles up to 10 years old — so you might not need to make a down payment, but you may have to pay out of pocket for taxes, title and fees. We’ll take a closer look at rates by model year in a minute.

KeyPoint Credit Union Auto Loan Details
APR Range 2.24%–19.00%
Available Terms 24 – 84 months
Amounts $5,000+
Requirements California Bay Area or listed employer

KeyPoint also offers new and used boat loans, motorcycle loans and RV loans. Whatever vehicle you’re considering, use an auto loan calculator to make sure the payment will be financially comfortable for you and your family.

Starting Point program

If you are a graduating student or you’re new to the U.S., KeyPoint offers a financing program tailored to help you get a loan with little to no credit. Starting Point includes free checking and options for a car loan, credit card and personal line of credit. Auto loans require a 10% down payment.

Is a KeyPoint Credit Union auto loan worth it?

KeyPoint CU has one of the lowest auto loan rates we’ve seen and a long list of eligible employers, which means membership is possible even if you live outside of the Bay Area. KeyPoint Credit Union auto loan reviews are sparse, but as of September 2020, it showed zero complaints on the Consumer Financial Protection Bureau complaint database.

Compare rates

However, other credit unions might have more lenient requirements, branches near you and equally low rates — you might be able to find a great APR from a military-affiliated credit union or your own neighborhood lender. It’s always a good idea to shop around for an auto loan the same way you would for a new car. You could fill out a single online form at LendingTree and receive up to five auto loan offers from lenders, depending on your creditworthiness.

KeyPoint Credit Union membership requirements

To become a member of KeyPoint CU, you must meet one of these requirements:

  • Live, work, worship or attend school in the San Francisco Bay Area.
  • Work for a KeyPoint CU membership company, including Apple, Intel, Google, Cisco, eBay and Yahoo, among others — here’s a complete list.
  • You are an immediate family member or live with a current KeyPoint CU member.

Once you are a member, you can retain your membership and your auto loan even if you move out of the state. You could apply for membership at the same time you apply for an auto loan, including those who live outside of California — keep reading, or you can visit the KeyPoint website or a branch or call 888-255-3637.

A closer look at KeyPoint’s auto loan and refinance rates

The auto loan rate you could receive depends, in part, on the car you want. Newer cars qualify for the best car loan rates.

Starting APRs for New, Used and Refinance Car Loans
Vehicle Age 24 months 36 months 48–60 months 72 months 84 months
2019 and newer with <5,000 miles 2.24% 2.74% 2.99% 3.24% 3.74%
Used, 2013-2019, ≥5,000 miles 2.49% 2.99% 3.24% 3.49% 3.99%
Used, 2010-2012 4.49% 4.99% 5.24% 5.49% 5.99%
Auto loan discount

There is an opportunity to lower your APR even further, as low as 1.74%.

KeyPoint members who buy a used rental car through Enterprise are eligible for a discount of  up to 1 percentage point off their auto loan rate, as long as that rate doesn’t dip below 1.74%, as we mentioned. However, residents of Alaska, Hawaii, Kentucky, Louisiana, Maryland, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina, Texas, Virginia and the District of Columbia are ineligible for this offer.

Pros and cons of KeyPoint CU auto loans

Highlights of a KeyPoint Credit Union auto loan

 Low rates: Not just for new cars, but used cars as well, up to seven years old.

 Private party loans: You don’t have to buy from a dealership in order to secure a car loan with KeyPoint. You could use a KeyPoint car loan to purchase a vehicle from a private seller.

 Car-buying service available: KeyPoint has partnered with Autoland, a car-buying service for credit union members in 15 states.

 Deferred payment possible: You may be able to defer your first car payment for up to 90 days for new or used car loans.

Lowlights of a KeyPoint Credit Union auto loan

 Membership required: Membership may be easiest for residents of California’s Bay Area. The good news is you could apply for membership and an auto loan simultaneously. This way, you could see your rate offer before going to the trouble of opening an account.

 Few branches: If you prefer to apply for an auto loan in person, KeyPoint Credit Union only has six locations.

 Not available everywhere: Though it’s possible to get a KeyPoint auto loan outside of California, KeyPoint does not offer auto loans in every state — check with the credit union to make sure yours is on the list of 32 states where auto loans are available.

How to apply for KeyPoint CU car financing

For a KeyPoint CU car loan, go online, visit a branch or call 877-552-3004. As we mentioned earlier, you don’t need to be a member when you apply, but you would need to become a member if you decide to accept an auto loan offer or KeyPoint Credit Union auto loan refinance. To apply, you’ll need the following information ready:

  • Loan purpose, amount and term
  • Personal details, such as name, address, government ID, phone number and email
  • Employment information, such as employment status and monthly income, as well as monthly expenses
  • Vehicle information, such as your car’s make, model and year (if available)

Depending on the type of auto loan you’re seeking, you may also need to provide:

  • Current pay stub
  • Proof of valid auto insurance
  • Vehicle title, registration and mileage
  • Smog certificate, if applicable
  • Verification of residence

Compare Auto Loan Offers