Car Loans from State Farm Bank®
Searching for a new car or refinancing the car you have is hard enough without deciding between lenders and their terms. Make the easy choice with a car loan from State Farm Bank. Besides competitive rates and 24/7 online account access, all vehicle loans feature Payoff Protector®1, which in case of a total loss can help you avoid making principal payments on a car you no longer own.
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- Purchase or refinance a new/used car, SUV or light truck.
- No application fees.
- Payoff Protector1, which in case of a total loss can help you avoid making principal payments on a car you no longer own.
- 24/7 online account access.
- Annual percentage rate (APR) reduction of 0.15% if you set up automatic monthly vehicle loan payments through a State Farm Bank checking, money market, or savings account at loan origination2.
- Minimum loan amount is $5,000, maximum $250,000.
- A pre-payment penalty of $100 will apply when the loan is paid in full within the first 12 months.
- Mileage restrictions: 150,000 miles maximum or driven more than 50,000 miles per vehicle year.
- All applicants must be at least 18 years of age. The lending policy of State Farm Bank permits financing only to persons who are at least 18.
- The individual(s) on the application must have a Social Security Number (SSN), Tax Identification Number (TIN), or Individual Taxpayer Identification Number (ITIN).
2To qualify and receive the additional annual percentage rate (APR) reduction, monthly electronic automatic payments must be set up from a funded State Farm Bank Checking, Money Market or Savings account at loan origination. Rates may increase after origination if customer no longer qualifies for APR reduction.
State Farm Bank, F.S.B., Bloomington, Illinois ("Bank"), is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and may be subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com or by contacting the Bank at 877-SF4-BANK (877-734-2265). Callers who are hearing or speech impaired should dial 711 or use a preferred Telecommunications Relay Service. To apply for a Bank product, you may also see your participating State Farm agent.