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Car Loan

Affording a New or Used Car

Whether you’re looking for a brand new car (or just new to you), a first-time truck, SUV, or a family minivan, financing advice and preparation will give you extra purchasing power before you head to the dealer.

Where Do You Start with Car Financing?

Our best advice before you shop for a new or used vehicle is to give us a call. Why? We can provide a free financial checkup, including a credit check to help you determine what you can afford, offer tips for the purchasing process, find current rates for what you want, and help you get pre-approved. When you do find something to buy, you’ll go into negotiations with more purchasing power.

Smiling young woman sitting in new vehicle.

How Do We Approach Auto Loans?

We'll review loan options, interest rates, payment terms, and more. Try out our car loan calculator below to get a general idea of the numbers. We also explain some great after-sale protection options, like Guaranteed Asset Protection (GAP) and Mechanical Breakdown Protection (MBP) (see details below). This way you’ll know ahead of time exactly what you can spend and how you’ll make payments. Once you’re qualified for a loan, pre-approval puts you in the driver’s seat when it’s time to discuss price with a dealer. 

We’ll walk you through the application process, and our representatives are available to answer any questions you have. 

What if I already found the car I want?

If you’ve already been to the dealer, let us help crunch the numbers for you. We often have lower rates, and can make sure you’re in good position to make the payments you’re committing to. We can also offer you protection for your investment with mechanical breakdown protection and GAP coverage.

Need To Repair Your Current Vehicle?

Don't wait to get the fixes you need. Financing car repairs with a personal loan can be a great way to keep your ride running smooth for years to come.

Personal Loan: Learn More

Let’s Get Started

We look forward to helping you.


Protect Your Investment

Mechanical Breakdown Protection

Mechanical Breakdown Protection covers mechanical breakdowns above the original manufacturer's warranty. This helps ensure that your vehicle investment is protected, and reduces the possibility of out-of-pocket expenses during an unexpected mechanical failure.

Your benefits:

  • $0 deductible on all plans
  • Immediate coverage
  • Direct pay to repair facility
  • Emergency roadside service included
  • Rental car allowance
  • Battery coverage
  • Competitive rates
  • Cost can be included in your loan or purchased outside your loan
  • Fully transferable

Guaranteed Asset Protection

If your vehicle is totaled or stolen, your insurance settlement can be significantly less than the outstanding loan balance. GAP is designed to relieve you of the responsibility for the remainder of the loan balance that may not be covered. We’ll make up that difference.

Your benefits:

  • Low cost protection
  • Eliminates the out-of-pocket expense for the remaining loan balance after loss settlement
  • Auto Deductible Reimbursement (ADR) pays up to $500 per loss (limit of 2 losses per year) when claim is filed and paid with your primary insurance carrier
  • Helps you avoid financial hardship and afford a replacement vehicle
  • Prevents deficiency balance from being added to new loan
  • Helps protect credit rating
  • Learn more about GAP coverage and get a quote here.

*In order to purchase GAP, you must have an active loan with First Source Federal Credit Union on the asset to be covered.

Auto Loan Calculator

Try our helpful auto loan comparison calculator below to get an idea of how much could be available to you. Enter your principal amount, the rate, and the number of payments for an idea of how much your monthly payments could be.

It’s Time For a Better Car

Live Smarter. Get started with an Auto Loan or call 315-735-8571 to talk about your options.

Get Started

Lending Manager Tanya Keller talks about how First Source thinks differently and looks at the big picture when processing loans

Not sure if you can afford the latest model
with all the tech options?

Check out our helpful auto loan calculator.

Auto Loan Comparison Calculator

Want a rough idea?

Check today’s auto loan rates effective April 18, 2021

Including Classics

Term APR
12 Month as low as 1.69%
24 Month as low as 1.69%
36 Month as low as 1.79%
48 Month as low as 1.89%
60 Month as low as 1.99%
72 Month as low as 2.34%
84 Month as low as 2.84%
96 Month as low as 3.84%
108 Month as low as 4.84%


Term APR
12 Month as low as 2.29%
24 Month as low as 2.29%
36 Month as low as 2.39%
48 Month as low as 2.49%
60 Month as low as 2.59%
72 Month as low as 3.04%
84 Month as low as 3.54%

2016 & Older
Excluding Classics

Term APR
12 Month as low as 4.64%
24 Month as low as 4.64%
36 Month as low as 4.99%
48 Month as low as 5.24%
60 Month as low as 5.54%
72 Month as low as 5.94%

Apply for an Auto Loan Now

Loan rates and terms are determined by overall credit history and are subject to change without notice. Applications are subject to credit approval. Loan to value is determined by credit score.

Monthly payments for a 5 year new vehicle loan would be $17.53 per $1,000 borrowed.
Monthly payments for a 5 year used vehicle loan would be $17.79 per $1,000 borrowed.
Monthly payments for a 5 year older vehicle loan would be $19.12 per $1,000 borrowed.

*Federally insured by NCUA. Membership and credit requirements apply. Rates and terms determined by overall credit history and subject to change.