First Bank and Trust of New Orleans Vehicle Loan Review

First Bank and Trust of New Orleans Vehicle Loan is offered by First Bank and Trust of New Orleans, a bank founded in 1991 and based in New Orleans, LA. First Bank and Trust of New Orleans Vehicle Loan is available in 3 states across the USA.

What APR does First Bank and Trust of New Orleans Vehicle Loan offer on its auto loans?

First Bank and Trust of New Orleans Vehicle Loan offers a fixed APR auto loan product that ranges from 5% APR up to 7.5% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum loan term you can get with First Bank and Trust of New Orleans Vehicle Loan?

First Bank and Trust of New Orleans Vehicle Loan has auto loans with terms ranging from 36 to 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Does First Bank and Trust of New Orleans Vehicle Loan charge an origination fee?

Yes, First Bank and Trust of New Orleans Vehicle Loan may charge a loan origination fee.

Does First Bank and Trust of New Orleans Vehicle Loan charge a late fee?

Yes, First Bank and Trust of New Orleans Vehicle Loan charges borrowers with a late payment penatly fee of up to $35

Does First Bank and Trust of New Orleans Vehicle Loan charge prepayment fees?

Yes, First Bank and Trust of New Orleans Vehicle Loan does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my First Bank and Trust of New Orleans Vehicle Loan loan?

Yes, you can. However, First Bank and Trust of New Orleans charges a prepayment fee if you pay your auto loan early. This fee could reduce or eliminate the savings from paying the auto loan early.

What do you need to qualify for First Bank and Trust of New Orleans Vehicle Loan?

Applicants with a credit score of at least 630 and up to 840 may be eligible for First Bank and Trust of New Orleans Vehicle Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loans with First Bank and Trust of New Orleans Vehicle Loan, applicants need a minimum annual income of $ or higher. First Bank and Trust of New Orleans Vehicle Loan only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via First Bank and Trust of New Orleans Vehicle Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by First Bank and Trust of New Orleans Vehicle Loan. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Proof of income
• Proof of insurance
• Driver's license
• Government issued photo ID
• Proof of identity

Does First Bank and Trust of New Orleans Vehicle Loan report your account activity to credit bureaus?

Yes, First Bank and Trust of New Orleans Vehicle Loan reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.