Buy Your Car with Confidence
We offer multiple auto loan options that work with your budget and financing needs.
Applying for an Auto Loan With Us
Whether it's your first time buying a vehicle or a seasoned pro, we are ready to help! Choose an option that works best for you:
Option #1 : Apply for Pre-Approval at First Citizens Bank
This is a great option for an auto loan, especially if you're still shopping around and haven't settled on a particular vehicle yet. With a pre-approval, you'll have a budget and terms taken care of which means you can talk about a vehicle's price rather than monthly payments and financing.
We can give you a letter to take with you to the dealership to offer an added level of comfort and buying power as you move through the buying process.
Option #2 : Find a Vehicle, Then Visit With Us
If you've got a specific vehicle picked out, visit with us! Contact us at 800-423-1602 to make an appointment to visit with our staff about current rates and auto loan options at any of our offices.
Our Auto Loan Process
We work with you to give you confidence and help you through the process of purchasing a vehicle.
- Apply for a loan online or in person
- Loan review
- Conditional approval
- Purchase the vehicle
- Loan closing
Who are you buying from?
Buying from a dealership
We would like to get the purchase agreement or bill of sale.
Purchasing from a private party
We encourage the buyer to see a copy of the title before finalizing the purchase. This helps the buyer know if the title is salvaged or reconstructed.
Our Auto Loan Options
Auto Installment Full AM
Auto Installment Fully Amortized Loan
- You borrow a fixed amount of money to buy a vehicle.
- You repay it through equal monthly payments over a set period of time.
- Each payment includes both principal (the amount borrowed) and interest.
- By the end of the loan term, the balance is completely paid off (loan is fully amortized).
Auto - Single Pay
Single Payment Auto Loan
- You borrow money to purchase a vehicle.
- Instead of making monthly payments, you repay the entire loan amount plus interest in one lump-sum payment on a specified future date.
- There are no regular installment payments during the loan term.
Auto - Balloon
Lower Payment Auto Loan
- You make smaller monthly payments during the loan term.
- The payments usually cover only part of the principal and interest.
- At the end of the loan, a large final payment (balloon payment) is due to pay off the remaining balance.
Loan Calculator
Auto Loan FAQs
How do I get pre-approved for an auto loan?
Simply apply online or in person for an auto loan and give a best estimate of the amount you are looking to spend. From there the lender will review and either approve, counter, or deny the application based on the amount. Final approval will require collateral review, but an initial approval can be offered to allow a customer to go shopping with confidence.
Why is it better to get a loan with First Citizens than with a dealer?
First Citizens Bank will offer you a local personal experience with the entire auto loan purchase and life of the loan. Using the dealer ends when you drive off the lot for most. We will be there for the entire relationship.
What does fully amortized mean?
Scheduled payments that gradually pay both principal and interest over the life of the loan, so the balance is completely paid off by the final payment.
What is a balloon payment?
A balloon payment on an auto loan is a large final payment due at the end of the loan term after making smaller (typically monthly) payments throughout the loan.