Bank of the West was established in 1874 as a gold national bank. Headquartered in San Francisco, California, Bank of the West has locations and ATMs across the Western United States.
APRs for auto loans start as low as 4.49% for a 60-month term. Loan fees apply and differ per state.
How do Bank of the West Auto Loans Work?
Those who are interested in applying for an auto loan need to be 18 years or older, must be a U.S. citizen or Resident Alien and live in the 19 states where Bank of the West has offices. Depending on your credit history, asset information may be required such as two years of income history.
Applications for auto loans can be done via the bank’s online form, over the phone, and at the local branch. Regardless of how you apply, you need to provide information on income, debt, assets, and liability.
No information was found on the Bank of the West website to determine how fast applications are approved and funds are delivered. There are no loan fees to apply if you live in Colorado or Montana. Fees do apply for the remaining 17 states in the bank’s area and range from $50 to $150.
What are Bank of the West’s Interests Rates?
APRs begin at 4.49% for auto loans with a five-year term. These APRs differ between states with percentages as high as 5.50%.
Interest rates across all 19 states are 4.49%.
There is no prepayment penalty for auto loans. Applicants receive a 0.25% discount should they apply for automatic deduction of payments from their bank accounts.
How Much Can I Borrow From Bank of the West
There is no maximum limit to how much you can borrow on a secured loan. The minimum amount begins at $5,500.
For unsecured loans, the amount you can obtain is between $2,000 and $5,499.
What Other Offerings do Bank of the West Auto Loans Have?
*A co-signer is permitted on both secured and unsecured auto loans
*Tax, titling and licensing fees can be included in the finance package but are subject to Loan To Value (LTV) ratios
*Lease buyouts are offered by Bank of the West. This option needs to be discussed in person.
*Bank of the West offers numerous finance calculators to determine the vehicle you can afford, the term of vehicle loan, and depreciation rate.