Auto Loans, Car Loans & Auto Financing
Eastern Bank offers flexible auto financing options for both new and used cars to get beginners and veterans of our highways and byways out on the road. Whether you’re looking for a new car loan or a used car loan, Eastern Bank can help you get behind the wheel.
With both new and used car loans, qualified customers may finance up to 90% of the vehicle value to potentially include sales tax, warranties and other related costs. At the time of the auto loan application, the customer needs a Sales Agreement with the dollar amount of the transaction listed.
For closing, all applicants need:
- Proof of income for any auto loan request greater than $25,000. Other terms may require income verification.
- RMV-1 for Purchases
- The form for Massachusetts purchases is available from the Massachusetts Registry of Motor Vehicles
How to Apply for an Auto Loan from Eastern Bank
Applying for an Auto Loan from Eastern Bank is easy:
- Call 1-800-EASTERN (327-8376)
- Apply in person at an Eastern Bank branch. Use our branch locator to find one near you.
Check out our New & Used Car Loan Rates and Terms
New Car |
Used Car: 0 to 4 Years Old |
Used Car: 5 to 6 Years Old |
|---|---|---|
7.99% APR1 |
8.49% APR1 |
9.49% APR1 |
|
Terms up to 60 months2 |
Terms up to 60 months2 |
Terms up to 36 months2 |
|
Minimum new car loan: $5,000 |
Minimum used car loan: $5,000 |
Minimum used car loan: $5,000 |
(1) Eastern Bank Premier Checking account, Private Bank Checking account and Select Checking account holders receive a 0.50% discount with auto-pay from their Eastern Bank checking account. Other Eastern Bank customers receive a 0.25% discount with auto-pay from their Eastern Bank checking account.
(2) The minimum term is 12 months.
The annual percentage rate (APR) is what credit costs a borrower each year, expressed as a percentage of the loan amount.
Sales Agreement with dollar amount of transaction is needed at time of application.
Auto Loan Monthly Payment Calculator
How to Apply for an Auto Loan from Eastern Bank
Applying for an Auto Loan from Eastern Bank is easy:
- Call 1-800-EASTERN (327-8376)
- Apply in person at an Eastern Bank branch. Use our branch locator to find one near you.