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What's the minimum amount I can borrow for a new car loan?
At Washington Financial, the minimum amount for a loan on a new or used car is $2,500.
How much can I borrow?
For a new car loan, Washington Financial will lend up to 100% of the Manufacturer's Suggested
Retail Price (MSRP). For used cars, we will lend up to 100% of the NADA
Retail Value listed for the make and model year of the car you are buying.
What are your current rates?
Rates and repayment terms can vary depending upon a variety of factors,
including whether you're buying a new or used car, the make and model year
of the car and the length of the loan. For example, $10,000 borrowed at
8.99% APR for 48 months results in a monthly payment of $248.80. For current Bank rates and sample payments on vehicle loans, click
here.
What are my repayment choices?
For a new auto loan, repayment terms at Washington
Financial run from 6 to 60 months.
On a used vehicle, your choices will vary based on the model year of the
car you're buying.
How do I make payments?
For a new or used auto loan, we'll send you a coupon book in the mail.
With the coupons, you may make monthly payments by check through the mail.
Or you can use automatic deduction from your checking account.
What fees will I pay?
A lien recording fee, currently $5.
What type of insurance is required?
Washington Financial requires collision
and comprehensive insurance coverage with a $500 maximum
deductable, listing Washington Financial as the loss
payee, on all new or used auto loans.
What are the collateral requirements?
Washington Financial will be listed as the first lien
holder on the Title.
My existing car loan is at 12%. Does
Washington Financial offer refinancing for existing
car loans?
Yes, Washington Financial offers refinancing and dealer purchases.
Who must own the car to finance a car loan at
Washington Financial?
The car must be registered to you, the borrower and/or your co-borrower.
Home Equity Glossary and FAQs
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