Purchase a used or new car with flexible terms, competitive rates and fixed, predictable payments.
Among the nation’s top 25 largest banks, BBVA Compass is a Sunbelt bank with some 700 locations in seven states. Among its suite of loan options are competitive rates when you’re ready to finance your next set of wheels.
What is a BBVA Compass auto loan?
With a BBVA auto loan, you can borrow from $5,000 to $15,000 to pay for your next new or used vehicle. Terms range from 12 to 72 months with fixed interest rates and no prepayment penalties. Rates are competitive — starting at 4.99% APR for $5,000 and 3.49% APR for up to $15,000 — but ultimately depend on your creditworthiness and state of residence.
|Product name||BBVA Auto Loan|
|Repayment type||Fixed rate|
|Minimum term||12 months|
|Maximum term||72 months|
|Minimum income requirement||Not listed|
|Credit score range||Not listed|
|Late fee or penalty||Not listed|
|Returned check fee or penalty||Not listed|
|Restricted uses||Car loan|
|States available||Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas|
Compare BBVA auto loans to other car loans
What are the benefits of a BBVA auto loan?
Recognized as a leading lender by the SBA, BBVA Compass could be a place to turn when you’re looking to fund your next vehicle.
- Easily apply online. Apply online and you’ll typically hear back from a banker the same day.
- Rate discounts. Save more with autopay from a BBVA Compass checking account, which knocks 1% off your APR, by enrolling in Premier Personal Banking, Everyday Heroes, Workplace Solutions or Global Wealth for 0.25% off the base rate.
- No prepayment penalties. Unlike other auto loans, you can pay off this one early without unexpected fees.
- Higher loans come with lower rates. Get a lower rate on loans of $15,000 or more.
What to watch out for
Fixed interest and flexible terms make BBVA Compass a solid choice for auto loans. But you’ll want to look out for a few things before applying.
- Potentially high APR. If you have poor credit, you could face an APR as high as 12.49%.
- Limited services. Loans are available in Alabama, Arizona, California, Colorado, Florida, New Mexico or Texas only.
How much can I expect to pay for an auto loan with BBVA Compass?
According to the bank, a 60-month auto loan for $20,000 at the posted 3.49% APR and no money down will result in 60 monthly payments of $359.28 each. Note that the minimum loan size for this rate is $15,000.
Am I eligible for a BBVA Compass auto loan?
To be approved for an auto loan with BBVA Compass, you must:
- Be at least 18 years old and a US citizen.
- Live in one of the seven states where BBVA Compass offers loans: Alabama, Arizona, California, Colorado, Florida, New Mexico or Texas.
What do I need to apply?
To apply for a BBVA Signature Express loan be ready to supply:
- Your personal contact information.
- Employment and financial information.
- Property and collateral information.
Complete the seven steps required for the online application to be contacted by a banker with BBVA Compass’s decision.
I got a BBVA Compass auto loan loan. Now what?
Once you have your BBVA auto loan, keep up with monthly payments to avoid unnecessary penalties.
- Set up autopay. Avoid late payment fees and save on your rate by setting up automatic withdrawals from a BBVA Compass bank account.
- Customer service. If you need support, call BBVA Compass loan support at 800-239-1996, send a secure form online or request for customer service contact you online. Connect on Facebook at BBVACompass or on Twitter @BBVACompass.
BBVA auto loans get you the money you need quickly with competitive fixed APR and flexible terms.
But if you’re not in BBVA Compass’s seven-state service area, you’ll need to compare your other car loan options.