Looking for a new car, your child's first car or the car of your dreams? We can get you behind the wheel of one with rates as low as 2.99% APR* on a new auto loan and 3.09% APR* on a used car loan. With a Sovereign checking account, you could qualify for these great rates.
And we can help you refinance if you have an auto loan with another lender. With rates as low as 3.09% APR* and flexible terms, we're confident we can save you money.
Great refinancing options
Up to 100% financing
Terms up to 72 months for new vehicles and 60 months for used
To get the APRs shown, you must reside in CT, DC, DE, MA, MD, ME, NH, NJ, NY, PA, RI or VT, have or open a Sovereign checking account and elect automatic payments from that account. If these automatic payments are discontinued, your APR will increase by 0.25 percentage points and your monthly payment will increase. The rates shown are Sovereignâ€™s lowest standard rates. If you qualify for an auto loan from us, your rate will be based on your credit history, payment option, loan term, vehicle age, down payment (if any) and loan amount as a percentage of vehicle value. You may finance up to 100% of the value of your vehicle. Minimum and maximum loan amounts are $5,000 and $75,000 respectively. The monthly payment on a $25,000 new auto loan with a 60-month repayment term and 2.99% APR is $449.11 and on a $15,000 used auto loan with an identical term and 3.09% APR is $270.13. Your vehicleâ€™s age affects the repayment term you may select. 60-month terms are available on loans secured by 2007 through 2013 model year vehicles. 72-month terms are available only on loans secured by 2012 and 2013 model year vehicles with 5,000 or fewer miles and do not qualify for our lowest rates. Applications are subject to approval. Rates and other terms are accurate as of 4/29/13 and may change thereafter.
The Plan is not an automatic feature of any loan or line of credit. It must be separately requested and purchased by the borrower at an additional cost. Eligibility requirements, benefit limitations, exclusions and other terms and conditions apply. Ask for details.