Navy Federal offers auto loans for new and used vehicles with competitive rates and flexible terms, especially catering to military members. You can apply easily online, by phone, or in person, and usually get a quick decision. If you get a loan, you make monthly payments based on your loan amount, term length, and interest rate, which might be why you see billing from Navy Federal. They also offer options like preapproval, refinancing, and discounts for active duty and retired military.
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Canceling a Navy Federal New Vehicle Loan involves directly contacting member services by phone or visiting a branch. The process is straightforward but requires interaction with customer service and settling any outstanding loan balance, making it relatively easy but not instant or fully automated.
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minutes to cancel a Navy Federal New Vehicle Loan subscription.
How to Cancel Navy Federal New Vehicle Loan: Step by Step
If you purchased through Navy Federal's website:
- Log in to your Navy Federal online banking account.
- Navigate to the Payments section.
- Click on Manage Payments to view your recurring payments.
- Locate the subscription you want to cancel.
- Click on Cancel next to the subscription.
- Confirm the cancellation by following the prompts provided.
If you purchased through a partnered merchant:
- Identify the merchant that is charging you.
- Visit the merchant's website or app.
- Log in to your account with the merchant.
- Find the section for managing subscriptions or billing.
- Locate the subscription you wish to cancel.
- Follow the merchant's cancellation process, which usually involves clicking Cancel or similar.
If you set up a debit or credit card payment:
- Contact the merchant directly to cancel your subscription.
- Find their customer service phone number on their website.
- Provide them with your account information to verify your identity.
- Request cancellation of the subscription.
- Keep a record of the cancellation confirmation for your records.
Tips & Tricks for Canceling Navy Federal New Vehicle Loan
- Call Navy Federal promptly to request cancellation and confirm the timeline (often within 2 business days).
- Mention you have not used the loan funds or picked up the check if applicable, to strengthen your case.
- Visit a branch in person if calls do not resolve the issue to get direct assistance and ensure the loan is voided.
- Request confirmation in writing that the loan cancellation is processed to avoid any future billing or credit issues.
- Be persistent and follow up regularly until you receive confirmation of cancellation.
- Use calm but firm language explaining you used the loan approval only as a bargaining tool and do not want the loan activated.
- Avoid delays by acting fast before the loan disburses or payments begin, as this simplifies cancellation.
- If escalated, ask to speak with a supervisor to handle any refusal or delays in canceling the loan.
- Check your credit report afterward to ensure no negative impact from the loan request or cancellation process.
Navy Federal New Vehicle Loan Customer Service Info
If you need assistance, here's how you can get in touch with Navy Federal New Vehicle Loan's support team.
Cancel Navy Federal New Vehicle Loan Script
Script
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Dear Navy Federal Service Team,
I would like to request the cancellation of my New Vehicle Loan subscription. Due to unforeseen circumstances, I am unable to proceed with the vehicle purchase and therefore do not require the loan any longer. I appreciate your understanding in this matter and look forward to your confirmation of the cancellation.
Thank you for your assistance.
Best regards,
Frequently Asked Questions
Navy Federal's New Vehicle Loan includes optional purchase of Guaranteed Asset Protection (GAP) coverage, which can be paid as a lump sum or financed into the loan. If you cancel the optional GAP coverage within 60 days of enrollment, you will receive a full refund of any fees paid. There are eligibility requirements and terms detailed in the GAP Agreement and Disclosure provided at the time of purchase.
You do not need your password to cancel your Navy Federal New Vehicle Loan subscription by phone. Navy Federal uses VoiceID to verify your identity when you call, which means no password is required. You can call their phone support at 1-888-842-6328 to proceed with cancellation. If you ever need to reset your password for other services, you can do so here: https://www.navyfederal.org/access/reset-password.html.
- Change of mind after loan approval but before the loan check is presented.
- Seller does not accept checks from Navy Federal, making the loan unusable.
- Find better loan terms elsewhere after initial approval.
- Financial hardship making the borrower unable to keep up with payments.
- Car purchase falls through or buyer decides not to buy the vehicle.
- Credit impact concerns from the loan hard pull or loan itself.
- Better refinancing options found later, prompting cancellation.
- Loan auto-cancellation when the loan check is not presented by the deadline.
Navy Federal allows you to cancel a new vehicle loan relatively easily, especially if the loan check has not been used or cleared. Typically, there is no early termination fee or lock-in period for cancelling the loan before funding the vehicle purchase. However, once the loan is finalized and funds are disbursed, you are committed to the terms of the loan. Additionally, if you opted for GAP coverage, be aware that cancelling GAP after 60 days will not result in a refund and is non-cancellable. Overall, the main pain points to watch for are ensuring you cancel before the loan funds or the GAP coverage becomes non-refundable, but there are generally no hidden gimmicks or early cancellation fees for the loan itself.
Before canceling a Navy Federal New Vehicle Loan, it's important to know that you will lose access to the structured payment plan that helps manage your vehicle financing. Paying off or canceling the loan will release the lien on your vehicle, but it may take several weeks to receive the updated title showing no lienholder. Additionally, you will no longer have the convenience of automatic payments specifically set for that loan through Navy Federal's online or mobile banking. Consider the impact on your monthly budget and financial planning, as freeing up the funds from the loan payments can be an opportunity to save, invest, or pay off other debts.
- Access Number or Account Number – Required for authentication when contacting Navy Federal.
- Loan Number – Identifies the specific vehicle loan to cancel.
- Full Name and Contact Information – Confirm your identity as the account holder.
- Original Loan Check (if received and not used) – Must be voided and returned if the funds were not disbursed.
- Consumer Loan Indemnity Agreement/Declaration of Loss Form (NFCU 62A) – To certify that the loan is no longer needed (for cancellation) and to request a void/replacement.
- Reason for Cancellation – Some processes may require you to state why the loan is being canceled.
- Signature – For authorizing any formal cancellation requests or forms.
- Potential Co-applicant’s Information – If a co-borrower exists, their information, initials, and signature may also be needed.
- Phone Contact – Navy Federal may require a telephone verification; the recommended number is 1-888-842-6328.
- Mailing Address for Forms – If submitting documents via mail: Navy Federal Credit Union, P.O. Box 3000, Merrifield, VA 22119-3000, Attn: Endorsement Verification Processing Branch.
We've actually written a step by step guide on how to get a refund from Navy Federal New Vehicle Loan. Check it out!
The Easiest Way to Cancel Navy Federal New Vehicle Loan
If you’re frustrated trying to cancel your subscription, membership, or bill from Navy Federal New Vehicle Loan—or if you didn’t even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or email account, and we’ll take care of the rest.
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What Are Some Alternatives to Navy Federal New Vehicle Loan?
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Editorial Note: These articles reflect the opinions of Chargeback's writers. Everyone's situation is unique; therefore, it is important to conduct your own research and note that our self-help tools are not guaranteed to help with any specific problem.
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