Auto Loans


	If you're ready for a new or used car, pull up to Sovereign for personal service and fast approvals that can put you in the passing lane in no time. With a completed loan application, a copy of a Dealer Purchase Order (if applicable) and written verification of income/employment, Sovereign can give you a green light in 24 hours or less.


	At this time we do not offer this loan product to residents of your home state.


	Competitive Rates We're pleased to offer our customers some of our best auto rates ever. Rates are based on your credit history, vehicle age, down payment (if any), loan amount as a percentage of vehicle value, loan term and the payment option you select.^* Financing up to 100% of NADA Retail value. New Vehicle Loans Terms up to 72 months No down payment plans Loan amounts up to $75,000 Used Vehicle Loans^** Terms up to 60 months ('09—'10 vehicles) Terms up to 60 months ('04—'08 vehicles) Terms up to 48 months ('03 vehicles) No down payment plans Loan amounts up to $75,000

	Auto Loan Topics in Tools & Planning Is an auto loan the best way to hit the road? Or should you use a home equity loan instead? For helpful information, use our calculators below:

			What vehicle can I afford?

			Which is better: a new or used vehicle?

			What term of vehicle loan should I choose?

			How much will my vehicle payments be?

			Should I lease or purchase a vehicle?

			Should I finance or pay cash for a vehicle?

			Should I use a home equity loan instead of an auto loan?

			Which is better: a rebate or special dealer financing?

			How long should I keep a vehicle?

			How much should depreciation cost me?

	Additional products you may be interested in

*	To get a Sovereign Bank automobile loan, you must reside in MA, RI, CT, NH, NJ, PA, NY, MD, DE, or VA and must have or must open a Sovereign deposit account. If you have or open a Sovereign checking or money market savings account and authorize automatic payment from that account, your interest rate will be reduced by .25 percentage points. Minimum loan amount is $5,000. Maximum loan amount is $75,000. Loans are available to finance up to 100% of the value of the vehicle offered as collateral. The monthly payment amount on a $25,000 loan secured by a new vehicle with a 60-month term and 3.75% APR is $457.60. Terms and conditions are accurate as of July 1, 2010, and are subject to change thereafter. All applications are subject to credit approval.

**	2009-2010 vehicles with 5,000 miles or more are considered used. Subject to credit approval, Sovereign Bank will also make loans secured by vehicles having model years from 2003 to 2008.

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