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Check for auto loan offers View Estimated Loan Terms What you need to know about Bank of the West auto loansBank of the West is an affiliate of European bank BNP Paribas that offers wealth-management services and personal and business banking products — like credit cards, personal loans and home equity lines of credit — along the West Coast and across the Southwest, Midwest and Rocky Mountain states. If you’re thinking about getting a Bank of the West auto loan, here are some features that stand out. Wide range of vehicle financing optionsBank of the West offers financing for …
Bank of the West also offers other vehicle loans, including new and used loans for motor homes, travel trailers and boats. Rate discounts for electric-vehicle financing and bank customersBank of the West customers can receive a 0.25% interest-rate discount for setting up automatic payments from a Bank of the West checking or savings account. And if you purchase a qualifying electric vehicle, you could get an extra 0.25% interest-rate discount — for a total savings of 0.50%. Not available in every stateYou can only apply for a Bank of the West auto loan in a limited number of states. If you don’t live in one of the 19 states where Bank of the West offers auto loans, you’ll have to find another lender. If you do live in a state where Bank of the West operates, keep in mind that you’ll have to visit a local branch to complete the application process. If you prefer the convenience of applying for and finalizing a loan in the comfort of your home, you might want to look for a different lender. A closer look at Bank of the West auto loansHere are some other things to know about Bank of the West auto loans.
Check for auto loan offers View Estimated Loan Terms Is a Bank of the West auto loan right for you?A Bank of the West auto loan may be a good fit if you’re an existing customer who plans to finance an eligible electric vehicle. It could also be ideal if you recently moved to the U.S. and are struggling to get auto financing because you haven’t built a U.S. credit history yet. But if you’re in the early stages of car shopping and want to shop around and compare loan estimates, Bank of the West may not be right for you. According to a bank representative, the lender doesn’t offer the ability to see if you prequalify for an auto loan, and you’ll need information about the car you want to finance when you apply. Bank of the West may also not be ideal if you have shaky credit. The bank notes on its website that credit scores of 600 or higher are preferred. How to apply for a loan from Bank of the WestTo apply for an auto loan with Bank of the West, you can get started online, over the phone or at one of the bank’s branches — though note that you’ll have to finish your paperwork at a physical branch if you’re approved. It’s a good idea to check your credit and shop around. Understanding your credit can help you figure out what to expect — in general, lower credit scores mean higher interest rates. And shopping around can help you find the best loan rate and terms for your needs. Read our article on how to get a car loan to learn more about the process. Not sure if Bank of the West is right for you? Consider these alternatives.
Check for auto loan offers View Estimated Loan Terms About the author: Ashley Chorpenning is a personal finance writer and content creator. In addition to being a contributing writer at Credit Karma, she writes for solo entrepreneurs and Fortune 500 companies. Ashley has a Bachelor of Bu… Read more. What credit bureau does Bank of the West use?Yes, Bank of the West Line of Credit reports your account activity to the following credit reporting agencies: Equifax. Experian. Transunion.
What kind of credit score do I need to get a Bank loan?Many give preference to borrowers with good or excellent credit scores (690 and above), but some lenders accept borrowers with bad credit (a score below 630). The typical minimum credit score to qualify for a personal loan is 560 to 660, according to lenders surveyed by NerdWallet.
Can I get a personal loan with a 580 credit score?You'll typically need a score of at least 550 to 580 to qualify for a personal loan. You can find personal loans for bad credit, but: You'll likely pay a higher interest rate than other borrowers. You probably won't qualify for larger loan amounts.
Can I get a line of credit with a 600 credit score?Yes, you can get a personal loan with a 600 credit score — there are even lenders that specialize in offering fair credit personal loans.
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