A “late model car” is a car which has been recently designed or manufactured, often the latest model.
(An “early model car” or “classic car” is a car old enough to be of historical interest; there is no usual intermediate term.)
Does Navy Federal have a grace period for auto loans?
Managing Your Auto Loan
Your first payment due date will be between 30 to 60 days from when the loan is finalized.
How long is a Navy Federal Auto Loan Good For?
Your preapproval and interest rates are good for 60 days after the check is issued, giving you ample time to shop for a car. Navy Federal offers several car-buying programs.
What credit score does Navy Federal require for auto loans?
A credit score of 700 or higher will generally get you a lower interest rate on your loan. A credit score of 600 or lower may result in a much higher interest rate. Proof of income: Before a lender loans you money, they want to make sure you’ll be able to repay the loan.
Photo in the article by “NOAA Climate.gov”