BANKING
Turn the Key on a Car Loan

State Farm Bank deposit accounts are FDIC insured.

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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Features

  • 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.
  • Interest rate 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 origination3.

Notes:
  • Minimum loan amount is $5,000, maximum $250,000.
  • APRs may vary based on loan characteristics, credit history and other factors2.
  • 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.

Current Rates

Loan Type APR2
Cars, light trucks, vans, SUVs
New Vehicles (2015-2017)
As low as 2.49%
Used Vehicles (2014 & Older) As low as 2.91%
Rates effective as of 1/1/2016
Autopay Discount3 of 0.15% available. Restrictions apply.
Vehicle Loan Disclosures [PDF-120KB]

Get a Car Loan Rate Discount

Get an interest rate reduction on your car loan if you set up automatic monthly payments from a State Farm Bank checking, money market, or savings account at origination.3
Checking
Savings
Money Market

1State Farm Bank Payoff Protector is automatically included as a provision of all newly issued vehicle loan promissory notes. Payoff Protector is not an insurance product. Subject to the terms, conditions, and restrictions of the Payoff Protector provision in your State Farm Bank Promissory Note and Security Agreement. Your loan must be in good standing and you must continue to make your monthly payments until your insurance claim is settled in order for Payoff Protector to apply. If your vehicle is determined to be a total loss before the loan is paid off, State Farm Bank will cancel the difference between the insurance payout and the unpaid principal balance due on the loan. Please contact State Farm Bank for additional details.

2Not all applicants will qualify for the "as low as" Annual Percentage Rates (APR) shown. Factors that may impact the final Annual Percentage Rate offered include the applicant(s) Credit Score, Loan Amount, Term, Collateral Model Year, and Loan Type.

3To qualify and receive the additional interest rate 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 interest rate 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 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.

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