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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.
$5,000
Min. Loan Amount
$15,000
Max. Loan Amount
5.24% to 13.74%
APR
Product Name | BBVA Compass Car Loans |
---|---|
Min. Loan Amount | $5,000 |
Max. Loan Amount | $15,000 |
APR | 5.24% to 13.74% |
Interest Rate Type | Fixed |
Requirements | Live in one of the BBVA Compass’s serviced states, be at least 18 years old, be a US citizen or permanent resident. |
BBVA compass auto loans run higher than your average lender. It also offers lower rates for loans over $15,000, making it a competitive option for buying an exotic or luxury car. Current customers also might want to look closely at this lender, since they can qualify for rate discounts up to 0.5%.
With a BBVA auto loan, you can borrow from $5,000 to $15,000. Terms range from 12 to 72 months with fixed interest rates and no prepayment penalties. Rates are competitive — starting at 13.74% APR for loans starting at $5,000 and 5.24% APR for loans of $15,000 and over. But ultimately depend on your credit, income and state of residence.
Both types of car loans come with the same rates and terms.
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.
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.
BBB accredited | No |
---|---|
BBB rating | A- |
BBB customer reviews | 1 out of 5 stars, based on 88 customer reviews |
BBB customer complaints | 746 customer complaints |
Trustpilot Score | 2.8 out of 5 stars, based on 9 customer reviews |
Customer reviews verified as of | 16 October 2020 |
BBVA Compass has mostly negative online reviews — not uncommon for a bank. It scores a relatively meaningless 7.4 out of 10 on Trustpilot based on one review, as of July 2019. It only scores just over 1 out of 5 stars on the Better Business Bureau (BBB). The bank receives a B- rating for failure to respond to four complaints filed against the business.
The main problem? Slow service. One customer had their car totaled and had a hard time getting their loan paid off through the insurance company. Several other customers complained about the poor quality of customer service.
According to the bank, a 60-month auto loan for $20,000 at the posted 5.24% 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.
To be approved for an auto loan with BBVA Compass, you must:
To apply for a BBVA Signature Express loan be ready to supply:
Once you have your BBVA auto loan, keep up with monthly payments to avoid unnecessary penalties.
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.