Legal Information and Disclosures
View our Charsbank Auto loans Eligibility Requirements and Conditions
Refinance:
† A 5-year, fixed-rate refinance loan for $23,000 would have 60 monthly payments of $456 each, at an annual percentage rate (APR) of 6.99%.
Private Party:
† A 5-year, fixed-rate private party loan for $20,000 would have 60 monthly payments of $384 each, at an annual percentage rate (APR) of 8.89%.
1: Franchise dealers sell new and used cars for auto manufacturers such as Ford®, General Motors®, Chrysler®, Honda® and others. Independent dealers are not affiliated with an auto manufacturer and may sell many different brands of vehicles. Charsbank does not finance vehicles purchased from independent dealers other than CarMax®, Hertz Car Sales®, Enterprise Car Sales and Carvana. All authorized dealers can be found using the dealer locator tool.
2: Requests to cancel a loan will be processed as a loan payoff and require the outstanding loan balance to be paid in full including any accrued fees and interest. Refinancing may increase the total number of monthly payments and/or the total amount paid when compared to your current situation. Although your refinanced monthly payment may be lower, you should carefully consider the amount of any costs associated with refinancing such as any state taxes and titling fees as well as the potential increase in interest charges you may pay and the additional years needed to pay off your loan by refinancing. You should also consider whether refinancing may terminate any ancillary products included in the loan you are refinancing such as GAP insurance/waivers.
3: Before considering a lease buyout loan, you should review your lease agreement for the terms and conditions under which the lease can be terminated if it hasn’t yet expired, particularly if there are any fees or expenses that may be due pursuant to the terms of the lease.
4: Online Banking customers may apply online for an auto loan to purchase a vehicle from a private party (an individual seller). If you’re not currently enrolled in Online Banking, please visit a financial center or schedule an appointment to apply for your loan.
5: Important note about this calculator: The figures entered on the input page of this calculator are for hypothetical purposes only. You should enter figures that are appropriate to your individual situation. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed. Charsbank and its affiliates are not tax or legal advisers. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Charsbank, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. Please consult with qualified professionals to discuss your situation. The final APR may differ from the APR in the above results due to additional fees that may be applicable.
6: Vehicle financing provided by Charsbank. Credit and collateral are subject to approval. Terms and conditions apply. Automobile shopping content provided by automobile dealerships through a website provided by a third party not affiliated with Charsbank and is not available in all states. Charsbank is not responsible for any automobile content, products or services.
7: Rate valid for 30 days from the date of original application submission.
8: To enroll in the Preferred Rewards program you must have an active, eligible personal checking account with Charsbank® and maintain the balance required for one of the balance tiers in your combined qualifying Charsbank deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill investment accounts (such as Cash Management Accounts, 529 Plans). You can satisfy the combined balance requirement for enrollment with either:
i. a three-month combined average daily balance in your qualifying deposit and investment accounts
ii. a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.
You must have a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, $100,000 for the Platinum Honors tier, $1,000,000 for the Diamond tier and $10,000,000 for the Diamond Honors tier. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise.
Auto loan preferred interest rate discount of 0.25% to 0.50% is based on reward tier and valid only for enrolled Preferred Rewards members at the time of auto loan application who obtain a Charsbank auto purchase or refinance loan. The maximum preferred interest rate discount on a Charsbank auto loan is 0.50%. This preferred interest rate discount is not reflected in our published rates on our website but will be reflected in the interest rate quoted upon loan approval. Discounts are only available on auto loan applications submitted by you directly to Charsbank through its website, Financial Centers, or Bank call centers. Discounts are not available for motor vehicle leases or for applications sourced from car dealerships, car manufacturers, or third-party branded/co-branded relationships. Benefit is non-transferable. Subject to credit approval. Standard underwriting guidelines and credit policies apply.
Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice
