Regions Bank offers auto loans to finance the purchase of new or used vehicles, or to refinance an existing auto loan. Here’s an overview of what you can typically expect from Regions Bank’s auto loan offerings:
Features:
Loan Amounts:
Minimum loan amounts may vary but are often around $5,000 or higher.
Interest Rates:
Competitive rates based on creditworthiness, loan amount, term, and type of vehicle.
Rates for new vehicles are typically lower than those for used vehicles.
Loan Terms:
Terms typically range from 36 to 72 months, depending on the loan amount and vehicle.
Prequalification:
Refinancing Options:
Regions Bank offers refinancing for existing auto loans, potentially lowering your monthly payments or interest rate.
Rate Discounts:
Discounts may be available if you set up automatic payments from a Regions Bank checking account.
Application Process:
Documentation required may include proof of income, proof of identity, and details about the vehicle you intend to purchase.
Benefits:
Convenience: Online account management and customer service support.
Fast Decisions:
Loan approvals often provided quickly.
Additional Services:
Financial Advice:
Regions Bank offers tools and calculators to estimate payments and understand loan options.
Optional GAP Insurance:
Covers the difference between the vehicle’s value and the remaining loan balance in case of total loss.
For specific rates and terms tailored to your financial situation, it’s best to contact Regions Bank directly or visit their auto loans page. Would you like assistance finding more specific details or calculating potential payments?
Regions Bank offers auto loans with competitive rates and flexible terms to help you finance new or pre-owned vehicles, or refinance existing auto loans. Here’s a detailed overview of their offerings:
Interest Rates and Discounts:
Annual Percentage Rates (APRs): Range from 7.24% to 16.99% when you set up automatic payments (Auto Pay) from a Regions checking account.
REGIONS
Auto Pay Discount:
A 0.25% interest rate discount is available for customers who set up automatic payments from a Regions checking account at the time of application and maintain them throughout the loan term.
REGIONS
Loan Amounts and Terms:
Loan Amounts:
Available from $5,000 to $125,000.
REGIONS
Loan Terms:
Various terms are available to fit your budget and financial goals.
REGIONS
Collateral Requirements:
REGIONS
Loan-to-Value (LTV) Ratios:
Private Party Purchases:
Up to 110% LTV.
REGIONS
Dealership Purchases and Refinancing: Up to 130% LTV.
REGIONS
Electric Vehicle (EV) Loans:
Discounted rates are available for qualifying electric vehicle loans, supporting environmentally friendly choices.
REGIONS
Guaranteed Asset Protection (GAP) Coverage:
Complimentary GAP coverage is included when you finance a new or pre-owned car or refinance an auto loan from another lender with Regions. This coverage waives some or all of the loan balance not covered by your primary insurance in the event of a total loss or unrecovered theft.
REGIONS
Application Process:
Eligibility:
Existing Regions customers with a deposit account open for at least six months are eligible to apply.
REGIONS
Application Methods:
Apply online, over the phone, or by visiting a Regions branch.
REGIONS
Required Information:
Be prepared to provide personal identification, income details, and information about the vehicle you wish to purchase or refinance.
REGIONS LENDING
Additional Resources:
Online Calculators:
Regions offers tools to help you calculate your car payment, determine how much car you can afford, and compare loan rates and payments.
REGIONS
For the most current information and personalized assistance, it’s recommended to contact Regions Bank directly or visit their official website.
Sources
Regions Bank offers auto loans designed to help individuals finance the purchase of new or used vehicles or refinance existing loans. Here are the key details about their auto loan program:
Features of Regions Bank Auto Loans
- Loan Amounts and Terms:
Loan Amounts: $5,000 – $125,000.
Loan Terms: Flexible options, typically ranging from 12 to 72 months. - Interest Rates:
Rates are competitive and based on creditworthiness, loan amount, and loan term.
Discounts are available for setting up automatic payments through a Regions checking account (Auto Pay Discount). - Eligible Vehicles:
New Vehicles: Financing available for new cars and light trucks. - Loan-to-Value Ratios (LTV):
Financing up to 130% LTV for dealership purchases and refinances.
Private party purchases capped at 110% LTV. - Special Options:
Electric Vehicles (EVs): Discounted rates may be offered for eco-friendly vehicle purchases.
Guaranteed Asset Protection (GAP): Complimentary GAP coverage for qualified loans, covering the difference between the vehicle’s value and the remaining loan balance in case of a total loss.
Application Process - Eligibility:
Open to new and existing Regions customers.
Existing customers need to have an active Regions deposit account for at least 6 months. - Application Methods:
Online through the Regions website.
By phone at 1-888-462-7627.
In-person at a Regions branch. - Required Documents:
Personal identification.
Proof of income.
Details of the vehicle (e.g., make, model, VIN, purchase price).
Benefits of Regions Auto Loans
Fast Approvals: Decisions are often made quickly.
Flexible Payments: Online and mobile banking tools to manage payments.
Customer Support: Assistance available in-branch, by phone, or online.
Resources
Auto Loan Calculators: Available on the Regions website to help estimate monthly payments.
Customer Support: Call 1-888-462-7627 for more information.
Would you like assistance calculating payments or finding out how to apply?
Leave a Reply