A loan, regardless of its purpose, is an investment in a financial institution. Just as they are granting you the privilege of financing, you are giving them a significant, long-term commitment. With that in mind, it is important to find a lender with whom you can have a successful long-term relationship. If you are in the market for an auto loan, this commitment can last for up to seven or eight years in some cases. Currently, Sovereign Bank manages over $63 billion. They employ over 10,000 individuals, and they have nearly 700 local branch locations. With such a pervasive presence, you may want to consider having Sovereign Bank as your source for auto financing.
Sovereign Bank Loan Programs and Qualifications
Sovereign Bank offers a tremendous variety of products and services to their auto loan customers. Whether you are looking to purchase a new or used vehicle, Sovereign Bank has the right loan for you. They offer many different loan terms and specifications that have been designed to suit the needs of just about anyone. Some of their requirements include:
- Loans for amounts up to $75,000
- Vehicle must be seven years old or less
- Terms from 36 to 72 months
Depending on the year of the vehicle, customers can choose from a range of rates and terms that make financing a new or used car simple and affordable. In the event that you are unable to afford a down payment, or if you would like to direct your savings toward consolidating debt, Sovereign Bank offers 100% financing options to customers with special financing needs. These services are available all throughout the mid-Atlantic and northeastern part of the country.
Sovereign Bank Auto Loan Application Process
Many new developments have been made in the lending industry that make applying for an auto loan simple and headache-free. Sovereign Bank has taken advantage of these developments and passed them onto their customers. This means that you can apply for your auto loan from home, without any messy paperwork. Your loan can be approved in less than 24 hours, which makes the entire process efficient, as well. Sovereign Bank even offers special discounts to individuals who choose to pay their auto loan automatically through their automatic debit program.
* Auto Loan Center is not necessarily affiliated with the lender profiled on this page. As such, we cannot guarantee that your request for an auto loan will be matched with any particular lender featured on this website. If you wish to contact this lender directly, we encourage you to visit this lender’s website. All content provided on this site is for informational purposes only. Product and service availability varies by state.