Auto Loans
Welcome to Andalusia Community Bank! We strive to provide our customers with the best financial solutions and services to meet their changing expectations and needs. We understand that buying a car is a significant investment for our customers. That is why we offer Auto Loans to make it easy for you to get the vehicle of your dreams. Our auto loans are designed to provide you with flexible and affordable financing options to help you own your dream car.
What Are Auto Loans from Andalusia Community Bank?
Auto loans are loans that are taken out to purchase a vehicle. With an auto loan, you can finance your car purchase over a set period, usually up to 60 months. The loan is secured by the vehicle, and the lender (Andalusia Community Bank) retains a lien on the car until the loan is paid off in full. Once you have paid off the loan, the car is entirely yours.
Terms & Conditions
- Down payment: up to 10%
- Loan amount: $5,000 to $50,000
- Loan term: up to 84 months
- Interest rates: Range between 4% and 16% and are based on the borrower's creditworthiness, the amount of down payment, car year, degree of wear, and your loan term
- Fees: There are no application fees or prepayment penalties. Late fees may apply if you miss a payment
Who Can Get an Auto Loan at Andalusia Community Bank?
The applicant must:
- Be at least 18 and no more than 65 years old (at the end of the loan tenure)
- Be a permanent US resident
- Have a steady income (salary or self-employment)
- Have strong credit
Additionally, the vehicle must be registered in the applicant's name and be comprehensively insured.
How to Apply?
You can apply for an auto loan online or in person at one of our branches. To apply, you will need to provide personal and financial information, including your income, employment status, and credit score. You will also need to provide information about the vehicle you wish to purchase, including the make, model, and year. Once you submit your application, we will review it and get back to you with a decision within a few business days.
