The First is a community bank that is serving customers along the coast of Maine. The First was established in 1864. The bank is the third largest bank headquartered in Maine, with assets of more than $1,250,000,000. The bank has fourteen bank branches in the region. With income of $14,161,000 the bank has remained highly profitable and well-capitalized.
The First remains focused on making sound loans to the people and businesses that live and work in the communities they serve. The bank has not originated sub-prime mortgages nor has it invested in securities collateralized by sub-prime loans. The bank continues to meet the financial needs of the markets they serve and have ample funds available for loans of all types.
The First offers a number of personal loan products including residential mortgage products, home equity loans, secured and unsecured personal loans, RV and boat loans as well as car loans.
The bank car loans have competitive rates and a variety of terms for both new and used cars. Some of the current car loan rates and terms offered by The First include:
New car loans for current and prior model year cars have a term of 60 months and an interest rate of 5.99% on the auto loan.
Used car loans for current and prior model years also have a term of 60 months and have a rate of 5.99%.
Used car loans for 2-3 model years old have loan terms of 48 months and an interest rate of 6.49% on the auto loan.
Used car loans for 4-5 model years old have loan terms of 36 months and a rate on the auto loan of 7.50%.
Used car loans for 6+ model years old cars have a term of 36 months and an interest rate on the auto loan of 10.00%.
All car loans require a minimum 10% down payment. There is a $79.00 document preparation fee on the bank auto loans. Car loan rates, terms and points subject to change and additional conditions may apply.
The primary market area for the First is Mid-Coast and Downeast Maine; therefore, the bank will not accept car loan applications outside the State of Maine.
For additional car loan rates and loan application information, a bank representative can be reached at 800-564-3195. Current savings rates, personal loan rates and car loan rates are also posted on the bank website located at www.the1st.com.
For additional information on CD rates see www.selectCDrates.com. Additional information on mortgage products can be found at www.selectcalculators.com.
Tags: auto finance, auto loans, car loan rates, car loans, Maine car loans, used car loan
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