BankNewport offers automobile loans to help purchase a new or used car, or to refinance a recent car loan that was first financed elsewhere. BankNewport, was founded in 1819 and is an FDIC-insured savings bank. The bank has twelve bank branches in the region. Along with car loans the bank offers loans for home purchases and refinances, home equity loans and lines of credit, commercial real estate loans and business loans.
Highlights of the car loans offered include a ¼ % reduction with automatic deduction from a BankNewport checking account, purchase and sales agreement and proof of insurance required on all loans, no penalty for early payoff, convenient and flexible terms available and fixed payment amount that help with budgeting.
BankNewport provides the following auto loan products and rates:
New auto loan with a term maximum of 60 months that has an interest rate of 7.75% and is available with no money down.
New auto loan with a term maximum of 60 months that has an interest rate of 7.50% and is available with a 10% down payment.
Used auto loan with a term maximum of 48 months that has an interest rate of 8.75% and is available with a 20% down payment; subject to collateral value determination in accordance with industry standards.
Used auto loan with a term maximum of 36 months that has an interest rate of 9.25% and is available with a 30% down payment; subject to collateral value determination in accordance with industry standards.
Annual percentage rate reflects a .25% rate reduction for having monthly payment automatically deducted from a BankNewport checking account. Automatic payment is not a requirement to obtain a car loan. Other auto loan terms and rates are available.
Auto loan interest rates and APR subject to change without notice. Additional conditions may apply to obtain these auto loan terms and rates. For current auto loan rates and loan application information contact the bank directly at 800-234-8586. Auto loan rates, account information and other disclosures can be found at the bank website, www.banknewport.com.
BankNewport also provides a variety of savings products. For current bank rate information and CD rates visit www.selectCDrates.com.
Tags: auto loan interest rates, auto loan rates, car loans, used auto loan
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