![]() ![]() ![]() Auto loans via dealers are usually serviced by captive lenders that are often associated with each car make. Dealership financing is somewhat similar except that the auto loan, and thus paperwork, is initiated and completed through the dealership instead. Once a contract has been entered with a car dealer to buy a vehicle, the loan is used from the direct lender to pay for the new car. The former comes in the form of a typical loan originating from a bank, credit union, or financial institution. Generally, there are two main financing options available when it comes to auto loans: direct lending or dealership financing. Money borrowed from a lender that isn't paid back can result in the car being legally repossessed. Each month, repayment of principal and interest must be made from borrowers to auto loan lenders. They work as any generic, secured loan from a financial institution does with a typical term of 36, 60, 72, or 84 months in the U.S. Most people turn to auto loans during a vehicle purchase. If only the monthly payment for any auto loan is given, use the Monthly Payments tab (reverse auto loan) to calculate the actual vehicle purchase price and other auto loan information. may still use the calculator, but please adjust accordingly. The Auto Loan Calculator is mainly intended for car purchases within the U.S. The Index is based on the highest Prime Rate published in The Wall Street Journal on the last business day of the month preceding the current calendar quarter.Related Cash Back or Low Interest Calculator | Auto Lease Calculator The margin will be assigned every six months and will remain in effect until the next credit review. ![]() Your margin is based on a six-month review of your credit history. Your variable rate is determined by an Index and a percentage amount above the Index called the margin. The 4.95% APR does not apply to balance transfers of existing Reliant Visa credit card balances. After that date, all balances will be subject to the variable rate. **4.95% APR applies to all purchase, balance transfers, and cash advance transactions completed on accounts opened for six months from the date the account is opened. All Reliant loans are subject to approval and must meet credit-granting terms and conditions. The index is based on the highest Prime Rate published in The Wall Street Journal on the last business day of the month preceding the current calendar quarter.Īll loan terms, conditions, and interest rates are subject to change. Your variable rate is determined by an index and a percentage amount above the index called the margin. The 0.99% APR does not apply to balance transfers of existing Reliant Visa credit card balances. 0.99% APR intro rate applies to all purchase, balance-transfer, and cash advance transactions completed for six months from the date the account is opened. Loan rates are current as of and are subject to change without notice. If payment coupons are requested, rates will increase by 0.50%.Įxisting Reliant loans and mortgage-related products are not eligible for buyout loan rate. Member responsible for anyįees or limitations associated with external accounts. Listed rates require automatic recurring payments from a Reliant account or another institution (external account). Recreational vehicles may be subject to a $20 lien filing fee. GAP coverage is available for new or used vehicles including cars, vans, light trucks, new or used power sport vehicles. All loan rates quoted as annual percentage rates. Your loan rate will be determined by your credit score, model year of vehicle, term of loan, and repayment method. Stated APRs are the lowest available for the model years and terms listed. ![]() Lawn & Garden Equipment, Tractor, and Utility Trailer Loans ![]()
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