Auto
Up2drive.com finances auto loans for as little as 3.29%
Up2drive is offering new auto loans with rates as low as 3.29% APR for up to five years, one of the lowest rates we’ve seen this season.
The company is a division of BMW Bank of North America, a subsidiary of the German auto company, but it offers financing for most brands of car and trucks. Loans are available in all 50 states and the District of Columbia.
The 3.29% rate for new autos is much more affordable than the average cost of five-year, new-car loans, which is 5.34%, according to our latest national survey of lenders.
If you borrow $20,000 for 60 months at the average rate, your payment would be about $381. But if you finance $20,000 at up2drive’s rate of 3.29% APR for a 60-month loan, your payment would be about $362.
So, taking advantage of the more affordable rate can save you $19 a month or $1,140 over the entire loan period.
Use our auto loan calculator to help you budget what your monthly payment could be.
The online lender also offers great used-car financing as well -- as low as 3.34% APR for loans up to 60 months on pre-owned vehicles.
The car or truck must be no older than the 2005 model year, have less than 90,000 miles and be bought from a franchised dealer.
The 3.34% APR is much lower than the national average of 6.34% APR for three-year, used-car loans. And with up2drive, you can borrow for up to five years at the same low rate.
Search our database of the best auto loan rates from several other lenders in your area to see if you can find a better deal.
There is no application fee to apply for a loan from up2drive. The best rates go to those with excellent credit.
The rates also assume use of up2drive’s Easy Pay electronic auto payment plan. If you choose not to enroll in the plan, the APR will be 0.50% higher.
Autos financed through the company must be purchased from franchised dealers but not BMW or Mini dealerships.
Apply online, and if you're approved, you’ll receive a loan packet with instructions and a check that you can take to a dealer. Once you’ve negotiated the price of a car, you can write the loan amount on the check and present it to the dealer.
If you’re in the hunt for a new auto, use our 5 simple steps to the best deal on a new car or truck. You can learn how to shop smart and drive home a real bargain.
If you’re shopping for a pre-owned car, follow our 10 smart moves for buying a used car to help you avoid potential traps.
Twitter
Delicious
Digg
Buzzup