Purchase a used or new car with flexible terms, competitive rates and fixed, predictable payments.
We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.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.