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Apply For A Car Loan |
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Auto Loans » Apply For A Car Loan |
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These days, as cars are becoming more and more expensive, applying for a car loan is not a bad idea after all. With banks offering car loans as low as 5.59 %, it is a win-win situation for the customer. Moreover, with the coming of various banks and financial agencies into the business of car loans, the competition has heated up. As a result of this, the customer is really emerging as the king, getting the best of both the worlds. At carloanshub.com, we have listed some of the leading banks in US who offer the best car loans for new as well as used cars. The details of their rates of interest along with their terms and conditions are as follows:
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Name of the Bank: Bank of America
Loan range: $7,500 - $100,000
Annual Percentage Rates (APR)
Loan Type |
Up to 60 Months (%) |
61 - 72 Months (%) |
New car |
5.59 % |
6.29 % |
Used car (franchise dealer) |
6.39 % |
7.04 % |
Used car (independent dealer) |
6.84 % |
7.54 % |
Used car (private party) |
7.19 % |
7.89 % |
Lease buyout |
7.99 % |
8.69 % |
Name of the Financial Agency: Capital One
Loan range: $7,500 - $100,000
Annual Percentage Rates (APR)
Loan Type |
30–36 Month (%) |
37–60 Month (%) |
61–72 Month (%) |
New (Dealer Purchase) |
6.09 % |
6.35 % |
6.79 % |
Used (Dealer Purchase) |
6.65 % |
6.95 % |
7.59 % |
Used (Person-to-Person) |
8.75 % |
8.95 % |
9.75 % |
Lease Buyout |
8.25 % |
8.75 % |
9.35 % |
Name of the Bank: Wells Fargo Bank
Loan range: $3,000 - $125,000
Annual Percentage Rates (APR)
Loan Type |
24-36 Month (%) |
42-60 Month (%) |
66-72 Month (%) |
New/Used Car (dealer) |
5.99% |
6.24 % |
6.59 %
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New/Used Car (private party)
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N.A |
8.38 % |
8.34 % |
Other than the above mentioned banks, some of the other major players in this field are Flagstar Bank, Key Bank and US Bank. Most of these banks have online application facilities on their respective websites to apply for a car loan. One can also call the toll free numbers of theirs to apply for a car loan just sitting at home. The eligibility conditions to avail of the car loans vary from one bank to another, with some banks offering loans in certain states of the US only.
To know more on car loans, keep browsing through the pages of www.carloanshub.com.
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