Most people will drive several types of cars in their lifetimes, as their tastes change from make and model; but one thing should always remain the same: obtaining the best auto loan rate possible. Without a lending process that’s friendly to your budget, large purchases like a new automobile can become a financial burden.
BBVA Compass sends consumers looking for a new car in the right direction with a range of lending options designed to fit anyone’s budget. Car shoppers looking for a longer-term loan can seek out BBVA’s 2.99% interest rate for any new car financed up to 72 months, or six years.
Auto Loan Terms and Conditions
Fixed interest and flexible terms are the highlights of BBVA’s auto loan. Borrowers with excellent credit who qualify for the 2.99% APR can rest assured that this rate won’t change for the life of the loan, regardless of the term you choose — from a shorter, one-year period up to six years. There are no prepayment penalties for paying off your car early, and a host of payment options.
According to the bank, a sample 60-month auto loan for $20,000 at the posted 2.99% rate and no money down equates to a $359.28 monthly payment. Put some more money down to lower the fixed payment owed. Customers should note that the minimum loan size is $15,000.
About BBVA Compass
A leading banking franchise with more than 668 branches nationwide, BBVA Compass operates throughout the Sunbelt region and, according to its website, ranks among the 25 largest commercial banks in the country based on deposit market share. BBVA is the fourth-largest bank in Texas.
The best auto loan rate keeps monthly payments low.