SunTrust Bank, based out of Atlanta, currently has some decent auto loan products for both new and pre-owned vehicles. If you happen to be in the market for an auto loan you may want to visit one of their local branches (application not available online).
Auto Loan Rates through SunTrust Bank:
- New Vehicles: Rates as low as 4.10% APR depending on credit history.
- Used Vehicles: Rates as low as 4.20% APR depending on credit history.
The lowest APR of 4.10% is for a maximum term of 72 months and you may reduce your annual interest rate by 0.25% off the standard rate with a qualifying SunTrust Bank deposit relationship, a 0.25% interest rate deduction off the standard rate if the payment is automatically deducted from a SunTrust checking, savings, or money market account and a 0.25% interest rate reduction off the standard rate with a qualifying mortgage from SunTrust Mortgage, Inc. and a Maximum discount is 0.75%. These interest rate reductions are for new consumer loans only and do not apply on existing loans.
Related: Check out SunTrust Bank’s $150 checking account promotion.
Payment Example: $20,000/6-year term loan at a rate of 4.10% APR would result in 72 monthly payments of $313.79 , and includes a $150 financed loan processing fee. Your APR may differ based on your SunTrust relationship, loan amount, repayment period, and other factors. Standard rates range from 4.85% to 13.93% APR.
Terms and Conditions:
- Minimum loan amount is $3,000 in TN, AL, MS, FL, VA, MD, DC, NC, and WV; minimum loan amount is $3,001 in GA and AR; $3,301 in SC.
- Minimum dealer invoice or NADA Clean Trade-In value of $12,000 required for 72 month term.
- Pre-owned vehicles are defined as vehicles previously titled with the D.M.V. or untitled vehicles from model years prior to the current calendar year.
- Pre-owned vehicles must have a model year between 2008 and 2010 to qualify for advertised rate.
- Offer and rates are subject to change without notice. Exclusions and limitations may apply.
- To get the most competitive rate compare SunTrust Bank’s products with other auto loan rates.
About SunTrust Bank:
SunTrust Bank is the fourth largest bank in the United States with total assets topping $171.8 billion (as of March 2010). They provide certificates of deposit, credit, trust, and investment services to a broad range of retail, business, and institutional clients. Other subsidiaries provide mortgage banking, brokerage, investment management, equipment leasing, and investment banking services.
They operate regionally (southeast USA) and have branches in Alabama, Arkansas, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington DC, and West Virginia.