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Cumberland, MD Credit Union & Bank Car Loan Comparison

If you live in or are moving to the Cumberland, MD area then you probably already have a local financial institution that you work with for checking accounts, savings accounts and more.

But, if you’re considering getting a new or used car then it’s worth your time to consider all of the lending options available around Cumberland, especially car loans from your local credit union.  

While we are confident that we offer the best terms you’ll find in the area on our car loan rates, we always recommend that borrowers look around and compare terms and rates from different lenders to make sure that they find the best possible car loan.

The following is a brief rundown of not just our car loan rates here at Al-Gar Federal Credit Union, but also the car loan rates offered by other banks in the area.

Car Loans at Al-Gar Federal Credit Union

Here at Al-Gar Federal Credit Union in Cumberland, MD, we are proud to offer our customers the ability to take out car loans at low rates and with flexible terms.

The following is a brief rundown of our car loan terms and rates:

  • New vehicles from 2014 to 2017 :
    • Up to 60-month term at 2.99% APR
    • 72-month term at 3.24% APR (over $15,000 financed)
  • Used vehicles from 2010 to 2013:
    • Up to 48-month term at 2.79% APR
    • 60-month term at 2.99% APR
    • 72-month term at 3.99% APR (over $15,000 financed)
  • Used vehicles from 2007 to 2009:
    • Up to 60-month term at 2.99% APR

It’s also worth noting that we offer 100% financing on all our car loans.

Other Lenders in Cumberland, MD

It’s important to understand when you look at the different rates and loan terms from local lenders that there are a number of factors that will determine what your actual car loan’s terms will be.

This includes how old the car you’re buying is as well as how strong your credit is. The rates that lenders display online are generally for borrowers with excellent credit, which means if your credit score is a bit lower (or a lot lower), you can expect the rates to be a lot higher.

Additionally, these rates are all subject to change. The following are some of the other lenders located throughout Cumberland, MD and the rates and terms of the car loans that they advertise:

M&T Bank’s Car Loan Terms

M&T Bank does not provide as many details upfront as many other financial institutions, but here are their terms:

    • Car loans for up to 84 months
    • 3.24% – 7.49% APR


  • $2,000 minimum


Healthcare 1st Federal Credit Union

Healthcare 1st Federal Credit Union is a financial institution that serves healthcare employees and medical professionals. Their car loan rates are as follows:

  • New car loans:
    • 36-month term at 2.99% APR
    • 48-month term at 2.99% APR
    • 60-month term at 2.99% APR
    • 72-month term at 2.99% APR
    • 84-month term at 4.49% APR


  • Used vehicles from 2010 to 2015:
    • 36-month term at 3.99% APR
    • 48-month term at 3.99% APR
    • 60-month term at 3.99% APR
    • 72-month term at 4.49% APR
  • Used vehicles 2009 and older:
    • 36-month term at 4.95% APR
    • 48-month term at 4.95% APR
    • 60-month term at 5.49% APR

Kelco Federal Credit Union

Kelco Federal Credit Union doesn’t offer as many loan term options or rates as some of the other lenders. What they do offer includes the following:

  • Newer vehicles from 2011 to 2017:
    • 60-month term at 1.99% APR
    • 72-month term at 2.99% APR
    • 84-month term at 3.25% APR
  • Used vehicles from 2008 to 2010 :
    • 48-month term at 3.99% AP
  • Used vehicles from 2006 to 2007:
    • 36-month term at 4.25% APR

Branch Banking and Trust

Branch Banking and Trust isn’t as transparent about their car loans online as other lenders, which means that you will need to contact them directly for loan information regarding specific vehicles. However, they do advertise the following:

  • Used car loans – Loan terms available for 24 to 75 months, including rates as low as 3.04% APR for 36-month terms.
  • New car loans – Loan terms available for 24 to 75 months, including rates as low as 2.79% for 36-month terms.

First United Bank & Trust

The First United Bank & Trust in Cumberland, MD does not list their car loan terms and rates online, which means you’ll have to contact them via email or by calling them to find out specific details concerning the vehicle you want to buy.

Choose The Car Loan Terms That Are Right For You

These are the car loan terms of the different lenders located throughout Cumberland, MD. As you can see, our car loan rates and terms here at Al-Gar FCU are incredibly competitive when compared with others.

Advantages of Car Loans With Al-Gar FCU

In addition to the low rates, Al-Gar FCU also offers these additional products so that you feel completely comfortable and happy with your car loan:

Take advantage of our low-cost Guaranteed Asset Protection known as GAP. GAP covers the “gap” between what you owe on your auto loan and the amount your auto insurance will cover, in the event that your vehicle is stolen and not recovered, or declared a total loss from an accident and can’t be repaired.

These are unfortunate events that do happen, and GAP may save you thousands of dollars if you choose to be protected.  Ask for GAP on your next auto loan.

No need to worry about making payments on your loans when you are off due to medical reasons. Al-Gar FCU also offers a Payment Protection that includes Disability and Life Insurance on your loans for a low-cost monthly payment. Ask for details during your loan application process.

MEMBER’S CHOICE® Mechanical Repair Coverage can help deflect some risk of costly repairs keeping your vehicle running extra miles and extra years. With different coverage levels and deductibles to choose, there’s a plan to fit your family’s budget. Learn more.

For information about applying for a car loan or for information about car loans in general, be sure to contact us at Al-Gar FCU today.