Here’s a look at some recent auto loan programs:
Bank of America has hooked up with Tesla Motors Inc. to finance the company’s $109,000 flagship electric sports car.
Details: BofA will finance as much as 75% of the purchase price. A five-year loan — the maximum term — at 5% interest would translate to a $1,700 monthly payment after putting down $27,500 (though buyers would receive a $7,500 tax credit).
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Lockheed Federal Credit Union
Program: Summer Loan Sale, through Aug. 31
Details: Rates for new and used car loans have been slashed by 0.5%. During the sale, new vehicle loan rates are as low as 4.49% APR.
Extra: LFCU has a best-rate guarantee — it will beat any approved auto loan rate offered by another lender, up to a maximum discount of 0.5% off the standard rate for which the buyer qualifies.
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And overseas, Emirates NBD has a new program, as well.
Details: Zero-down across all key car brands, with interest rates starting from 4.50%. The new program is applicable to both old and new car brands, as well as flexible payment terms that stretch up to 60 months.
Extra: 24/7 on-road service assistance in case the car breaks down.
