BBVA Compass auto loans review November 2018 | finder.com
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BBVA Compass auto loans review

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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 over 700 locations across 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 credit, income and state of residence.

Compare BBVA auto loans to other car loans

Rates last updated November 21st, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Term of Loan Requirements
car.Loan.com Car Loans
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
300
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Auto Credit Express Car Loans
Get connected with an auto lender near you, even if you have bad credit.
300
Typically 3 to 6 years
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
LightStream Auto Loans
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Good to excellent credit
Flexible terms
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
RateGenius Auto Loan Refinance
Connect with a network of over 150 lenders to refinance your car loan.
510
Varies
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
LendingClub Auto Refinancing
Lower your monthly car payments and save on interest through a fast and easy online application process.
Fair or better credit
Minimum of 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
MotoRefi Car Loan Refinancing
A car loan connection service for borrowers looking to refinance.
525
1–6 years
Must have an income of at least $2,000/month and have a vehicle with less than 100,000 miles.
LendingTree Auto Loans
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
Good to excellent credit
Typically 1 to 7 years
Must be a US citizen and 18+ years old. Must have good to excellent credit.

Compare up to 4 providers

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 and enroll 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 extra 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 only available in Alabama, Arizona, California, Colorado, Florida, New Mexico or Texas.

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 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:

  • Live in one of the BBVA Compass’s serviced states.
  • Be at least 18 years old.
  • Be a US citizenor permanent resident.

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.

How to apply with pictures

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.

Bottom line

When you’re looking for a car loan, it can be as easy as visiting your local bank. 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 to find the right financing for you.

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2 Responses

  1. Default Gravatar
    ShawnMarch 19, 2018

    I got a vehicle loan currently, and i am making pymts. My credit score not so good. I am wanting to trade my car for a new one. Will the bank do another loan or am i outta luck??

    • finder Customer Care
      JoshuaMarch 25, 2018Staff

      Hi Shawn,

      Thanks for getting in touch with finder.

      If you are still making monthly repayments on your car and planning to trade it, please note that you still have to pay off the remaining balance. However, if the value of your car is higher than the money you owe, then that should not be a problem.

      Now, if want to trade your car for a new one and you have a bad credit score, your options might be limited. But if you can prove to your lender that you can make the repayment, then they will most likely approve your application.

      To explore your options, please go to this page. On that page, you will be able to compare and apply for a car loan.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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