State Farm Bank Auto Loan Rates
Used Car Loan APR
New Car Loan APR
With a range of available vehicle loans, State farm offers a lot of options for you. Whether you are refinancing or purchasing a new car, you get the most competitive Annual Percentage Rates with an additional Payoff Protector. State farm offers the payoff protector as a promissory note for a new vehicle loan.
You can refinance, get a new or used car at State Farm bank with low-interest rates.
Maximum loans of about $250,000 and a minimum loan of $5,000 are at your reach at the bank. Depending on your credit scores, you are provided with Annual Percentage Rates (APR) that suit your options.
For new vehicles (2016-2018 models), APRs are as low as 2.54%. Used vehicles on the other hand have an APR of 3.04%.
Refinancing allows you to make more savings as the rates are leveled down.
Application and repayment
Application of the auto loan at bank is online based. You are required to fill an application and submit your social security number including your employment and income. Part of the application requires that a credit check is made which eventually may affect your credit score.
The exciting bit about state farm is that you can make payments of your loan through the online internal transfer service. You can use this feature if you have State farm checking bank, Interest Checking, Savings account or Money market. Loan payments have been made easier with simple transfers from the deposit account to the loan accounts.
The strong team of employees at State Farm offers first class services and advice out of this world. Being online based, interaction with customers and understanding their needs is the priority. For 18 years now, the online based bank together with the competent team has been able to help you realize your dreams and getting on the road without a problem.
Having received fewer complaints, State farm bank is keen on building up on the positive attributes while rectifying the mishaps in the institution submitted by customers. State Farm Bank is a reliable online financial service provider with satisfactory results in its services.