Car & Truck Loan Rates
|LTV (Loan to Value*)
|Your Credit Score
|Loans ≤62 month terms**
*LTV (Loan-to-Value) is the ratio of a loan to the value of an asset purchased. For example, if someone borrows $23,000 to purchase a car worth $29,000, the LTV ratio is $23,000 to $29,000 or $23,000/$29,000, or 79%.
**Term length will also affect loan rates. Rates shown in chart above are for terms from 1 to 62 months. Add 0.25% APR to terms of 63 to 84 months; add 0.50% APR to terms of 84+ months. Also add an additional 0.10% APR to all loans that are paid manually. Terms 84 months and above only apply to vehicles whose age is ≤ 2 years from the current model year. Add 0.50% to vehicles 8 years older than current model year.
†APR = Annual Percentage Rate. Maximum terms for each loan type are set in the loan policy. All rates are subject to change without notice. Ask us for details. Rates shown effective as of March 20, 2017 and are subject to change without notice.
Rates shown here are good for all new loans to Meridian Trust, including refinancing of existing loans elsewhere to our lower rates. Meridian Trust loans will be refinanced only if there is a letter grade improvement in the borrower’s credit score, or the remaining principal balance on the loan is increased by 25% or more.