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  State Farm Vehicle Loans

State Farm Vehicle Loans

in Auto Loans from State Farm

Unaffiliated

State Farm Vehicle Loans

Unaffiliated

in Auto Loans from State Farm

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Credit Score Range 700 - 850
Loan Amount $5,000 - $250,000
APR Starting at 2.54%
Loan Term (Months) Up to 84 months

State Farm Vehicle Loans Review

State Farm Vehicle Loans is offered by State Farm, a financial services company founded in 1922 and based in Bloomington, IL. State Farm Vehicle Loans is available in 48 states across the USA.

State Farm Vehicle Loans FAQ

How much can you borrow via State Farm Vehicle Loans?

State Farm Vehicle Loans auto loan amounts start at $5,000 and go up to $250,000.

What APR does State Farm Vehicle Loans offer on its auto loans?

State Farm Vehicle Loans offers an auto loan product that ranges from 2.54% 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 State Farm Vehicle Loans?

State Farm Vehicle Loans has auto loans with a maximum term of 84 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 auto loan, the more interest you will pay.

Does State Farm Vehicle Loans charge an origination fee?

Yes, State Farm Vehicle Loans may charge a loan origination fee.

Does State Farm Vehicle Loans charge a late fee?

Yes, State Farm Vehicle Loans charges borrowers with a late payment penatly fee

Does State Farm Vehicle Loans charge prepayment fees?

Yes, State Farm Vehicle Loans 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 State Farm Vehicle Loans loan?

Yes, you can. However, State Farm 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 State Farm Vehicle Loans?

Applicants with a credit score of at least 700 and up to 850 may be eligible for State Farm Vehicle Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

State Farm Vehicle Loans does not have or does not disclose a minimum annual income eligibility requirement. State Farm Vehicle Loans only considers borrowers who are employed. 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 State Farm Vehicle Loans. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

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

  • Recent pay stubs
  • Driver's license
  • Proof of citizenship or residence permit

What is the estimated funding time for an auto loan via State Farm Vehicle Loans?

State Farm Vehicle Loans will typically approve (or deny) an auto loan application within 48 hours and fund the loan within 7 business days of approval.

State Farm Vehicle Loans Disclosure: "Not 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."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 48 states
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Application Fee $0
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Immigration Status Considered U.S. Permanent Resident
Joint Loan Applications Accepted Cosigner
Maximum Vehicle Age 15
Military Status
  • Active Duty Military
  • Non-Military
Minimum Age 18
Verification Documents Required
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Credit Score Range 700 - 850
Loan Amount $5,000 - $250,000
APR Starting at 2.54%
Loan Term Up to 84 months

State Farm Vehicle Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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