When you apply for an auto loan you are able to determine how long you want your payback period to be. For auto loans, you are able to select a payback period between 12 and 60 months. For example, in a 12 month payback period, you will make larger monthly payments than a 60 month payback period, but a greater % of your payments will go towards paying down the principal of your auto loan.
In December of 2018, we expanded our auto loan payback period from 45 to 60 months, giving you, the borrower, better payment options over the duration of your auto loan. By increasing the number of terms in your loan, you are able to make smaller monthly payments - a great benefit for some borrowers.
We can finance or refinance auto loans for both new and used vehicles. Our student auto loans begin at $5,000 with terms from 12 to 60 months. Now we offer auto loan products in 31 states. If the customer is not living in those states, he/she can still get a loan with us by visiting any dealerships in those 31 states. Please note: you mush should be 18+ and currently enrolled in a U.S. college or university. The model year of the car must be 2012 or later with 70k or fewer miles, no accident records on CARFAX. Take a look at our Eligibility for more information, and then start your auto loan application here.
Michigan Regulatory Loan License (RL-0020249), effective February 12, 2016,issued by Department of Insurance and Financial Services.Contact info: Office of Consumer Finance, 530 W. Allegan Street, 7th Fl., Lansing, MI 48933-1521