Finance new vehicles, used cars, or refinance your existing auto loan — with low APRs, flexible terms, and approvals in minutes. Available for all credit profiles.
An auto loan is a secured installment loan used to finance the purchase of a vehicle. You borrow a lump sum from NexaBank, use it to buy the car, and repay the loan in fixed monthly installments over an agreed term — typically 24 to 84 months. The vehicle serves as collateral, which is why auto loans generally carry lower interest rates than unsecured personal loans.
NexaBank auto loans are available for new vehicles purchased from franchised dealerships, used vehicles from dealerships or private parties, and refinancing of existing auto loans from other lenders. All applications are completed 100% online, with most decisions delivered in real time.
Financing a brand-new vehicle from a franchised dealer? NexaBank's new car loan offers our best APRs — starting from just 5.90% for well-qualified borrowers. We finance up to 100% of the MSRP (Manufacturer's Suggested Retail Price), so you can drive off the lot with zero dollars down if you qualify.
Buying a pre-owned vehicle? NexaBank finances used cars up to 10 model years old with fewer than 120,000 miles on the odometer. We lend up to 100% of the vehicle's Kelley Blue Book (KBB) value, and rates start from 7.25% APR. Both dealership and private-party purchases are eligible.
Already have a car loan with a high interest rate? Refinancing with NexaBank could significantly lower your monthly payment or reduce the total interest you pay over the life of the loan. There are no prepayment penalties on your existing NexaBank loan, and the refinancing process is fully online — typically completed in 1–2 business days.
Financing an electric or plug-in hybrid vehicle? NexaBank offers a dedicated EV Incentive Loan with a 0.25% APR discount compared to our standard new car rate, in line with our commitment to sustainable lending. This applies to any EPA-certified EV or PHEV from any manufacturer.
The Annual Percentage Rate (APR) on your auto loan represents the true annual cost of borrowing, including the interest rate and any lender fees expressed as a yearly percentage. Your specific APR is determined by several key factors:
The single biggest factor. A score of 720+ typically qualifies for the best rates. Scores below 600 may still qualify but at higher APRs.
Shorter terms (24–36 months) usually carry lower APRs but higher monthly payments. Longer terms reduce monthly payments but increase total interest paid.
New cars attract lower rates than used vehicles. As a car ages, the lender's risk increases due to depreciation, which is reflected in the APR.
A lower LTV (larger down payment relative to vehicle value) reduces lender risk and can qualify you for a better rate.
| Credit Score | New Car (60 mo) | Used Car (60 mo) | Refi (60 mo) |
|---|---|---|---|
| 720 – 850 (Excellent) | 5.90% – 6.50% | 7.25% – 8.00% | 5.75% – 6.25% |
| 680 – 719 (Good) | 6.50% – 7.50% | 8.00% – 9.50% | 6.25% – 7.50% |
| 640 – 679 (Fair) | 7.50% – 9.99% | 9.50% – 12.00% | 7.50% – 9.99% |
| 600 – 639 (Building) | 9.99% – 12.99% | 12.00% – 15.99% | 9.99% – 12.99% |
Complete our simple online application with your personal details, income information, and vehicle details (if known).
Most applicants receive an instant credit decision. If approved, you'll see your loan amount, APR, and available terms.
Select the repayment term that works for your budget. Use our calculator to preview your exact monthly payment.
Sign your loan agreement digitally. For dealer purchases, NexaBank sends payment directly to the dealer within 1–2 business days.