Close
Car Loan
Routing number: 221571473
Close
Personal
Digital Banking
Not enrolled? Sign up here.
Apply Online:
Apply for Personal Loan
Manage your products and services:
Business
Business Digital Banking
Not enrolled? Request more information.
Blocked? Contact us at 1-866-939-8039
Apply Online:
Manage your products and services:
-
Finance My Car
-
Lease
I want to finance my car
Conventional Loan
We offer conventional vehicle financing so you can have the peace of mind of owning your car.
Details
Interest rates from
6.25% APR to 7.55% APR
Terms up to
84 months
Benefits
-
We are with you during the whole process
-
Finance any make or model
-
Financing available for up to 84 months
-
You choose the terms
-
Drive off the same day with your car
-
Financing flexibility
Perfect for:
-
Fixed interest for the life of your loan
-
Buying a new or used car
-
Lease buyouts
CALCULATOR
An auto loan is waiting for you.
Estimate your monthly payment
Estimated monthly payment¹
$
1The monthly payment calculated is an estimate, and the final amount to be paid will depend on the total amount financed through FirstBank from January 1, 2024 to December 31, 2024. The first payment is assumed to be made within 30 days. The first payment will be higher because it includes the regular registration fee. Not all models qualify for 84 months. The MSRP may vary based on the auto manufacturer and/or dealer selected.
Certain restrictions apply. Subject to credit approval and other parameters established by FirstBank. Your interest rate may vary based on your credit history and other key financial factors, including but not limited to the amount approved for financing and rate of payment per income.
| Loan¹ and Term | APR |
|---|---|
|
Conventional up to 72 months
|
Starting at 6.25%
|
|
Conventional up to 84 months
|
Starting at 7.15%
|
|
Conventional used up to 84 months
|
Starting at 7.55%
|
START THE PROCESS WITH US
- Licencia de conducir vigente
- Evidencia de ingresos: últimos dos (2) talonarios o estados financieros, si trabajas por cuenta propia.
- Evidencia de seguro social / pensión o estados bancarios que reflejen el depósito, de ser aplicable.
- Recibo de agua o energía eléctrica.
Make sure you have the following documents readily available.
-
Valid driver’s license.
-
Proof of income: last two (2) pay stubs, or financial statements if you are self-employed.
-
If employed: last two (2) pay stubs
-
If self employed: financial statements
-
If retired: proof of Social Security, pension or bank statements reflecting deposits
-
Evidence of physical address (water or electric bills)
FREQUENTLY ASKED QUESTIONS
- Valid driver's license
- Proof of income: last two (2) pay stubs, or financial statements if you are self-employed
- Proof of Social Security / pension, or bank statements reflecting such deposits, if applicable
- Water or power utility bills
At least ten (10) business days must have passed since the settlement. If the settlement was made in cash, certified check, or money order, you may request it immediately.
Conventional Loan
At least ten (10) business days must have passed since the settlement. If the settlement was made in cash, certified check, or money order, you may apply immediately. You may request the Certificate of Title at the Auto Customer Service Center or the First Line Customer Center, by calling at 787-725-2511 or 1-866-690-2511, at any time, seven days a week.
You must specify whether you wish to receive the title by mail or pick it up at the Auto Customer Service Center or the Auto Center in Mayagüez (located at Mayagüez Town Center).
The title will be processed as requested by the customer, within no more than five (5) business days after the request is submitted.
For in-person pickups, customers must come in and show a photo ID. Alternatively, the designated person must bring a written authorization signed by the customer, including a copy of the customer's ID and the designated person's ID. This service is provided at no cost.
Leasing Loan
At least ten (10) business days must have passed since the settlement.
Auto Transfers – Active Loan
- You must be of legal age.
- The car must be registered at the Department of Transportation and Public Works.
- You must fill out a credit application, including the loan number.
- Copy of your photo ID, Social Security card, and vehicle license.
- Self-employed customers must include a certified copy of the most recent tax return, or a copy including a stamp from the Department of the Treasury, or a copy of the most recent financial statements prepared by a duly licensed CPA.
- Corporations must include the corporate resolution authorizing the applicant to sign the transaction.
- Applicable service charge.
- If you already own the car, include copies of the money orders or checks used to make your payments.
- Set up an appointment to make the transfer.
- Both parties must bring their original photo IDs (including signature) and Social Security cards. The loan must be in good standing and have no unpaid amounts.
- The applicant must submit evidence of the endorsement of their current insurance policy or proof that they own a new, equivalent policy (with the same terms and coverage) to the one that has been in force until then. Said policy must be paid in full, without financing. If the required evidence is not submitted, FirstBank will acquire a single interest insurance, as provided in the sales or lease agreement, and will add this amount to the loan balance. This could entail an increase in the monthly payment. If the customer subsequently decides to replace the single interest insurance, only a double interest policy will be accepted for the remaining term of the loan.
- For lease loans, a public liability insurance policy will be required, with limits of $100,000/$300,000/$50,000.
- If the vehicle has an extended warranty contract, the original owner must comply with the provisions in said contract in order to notify that the car has been transferred.
- The original customer must ask the bank to cancel the Easy Payment service, if applicable.
- Bring all internal revenue stamps, as applicable.
- Have the original vehicle license (conventional loan) with a current vehicle tag. If the vehicle tag expires within the next thirty days, it must be renewed before the transfer.
- Bring a certification from the Department of Transportation and Public Works attesting that there are no pending fines.
- Bring a copy of the most recent water, power, or telephone bill.
Important Notes:
- If either of the parties (seller or buyer) cannot be present for the transfer on the day of the appointment, they must designate a representative through a Power of Attorney drafted by a notary lawyer. This document must then be certified by the Notarial Inspection Office of the Supreme Court. If the power of attorney is drafted in the United States, it must first be notarized by a notary lawyer in Puerto Rico and then submitted to the Notarial Inspection Office. Then, the designated person may go to the transfer appointment. They must bring all the original copies of the legal documents required. In this case, the endorsement of the Title and the license must be performed before a notary lawyer.
- If the original customer is deceased, their representative must submit a Declaration of Heirs and, if they are not the universal heir, an affidavit from the heirs relinquishing the sale or purchase of the vehicle. The customer must also bring a copy of the Death Certificate and a Certification of Debt or Estate issued by the Department of the Treasury.
While a conventional loan incurs daily interest charges for 15 days after your payment is due, a lease incurs no fees during this period. However, you will need to pay a fee for every payment that is late for more than 15 days.
If you want to switch your car frequently, it is more convenient to do it with a lease. Every year, new and more advanced models are released to satisfy customers. Besides, continuing to drive new cars helps reduce your mechanic workshop expenses, which are inevitable over time. If you lease a car and wish to make an upgrade, you can do it without incurring penalties. If there is a residual after this term, we help you find the appropriate financing option to handle it. The above is subject to credit approval.
Contrary to conventional loans, when you lease a car, you can set aside up to 35% in residual value, depending on the car’s make and model. The residual value is a portion of the principal value whose payment is postponed until the end of the lease term. At the end of the financing term, you have the option of acquiring the vehicle by financing it or paying the residual in full. You may also change your vehicle again, getting the most convenient financing alternative for the residual value. This results in a lower monthly payment to better fit your budget.
Also, it is important to note that the insurance policy is not part of the lease financing, further reducing your monthly car payment. In addition, if you have other cars with separate insurance policies, you can ensure your leased car as part of the master policy you already have.
- Service available at all FirstBank branches.
- The loan must be in good standing.
- The customer must bring the original vehicle license corresponding to the vehicle tag to be acquired and show a photo ID. Alternatively, the designated person must bring a written authorization signed by the original customer, including a copy of the customer's ID and the designated person's ID.
- No inspection certificate is required if the vehicle is a current year model or a model from the previous year.
- You must bring evidence issued by the general agency or insurance company, including proof of the annual policy renewal and the payment certificate stating it has been paid in full without financing, as well as public liability coverage with limits of $100,000/$300,000/$50,000.
- If you renew your vehicle tag at one of our branches, you may pay in cash, money order, or check drawn from any FirstBank account, for the amount indicated in the notice we sent, plus applicable service charges. If you do this process at the Auto Customer Service Center, you may pay with a money order, check drawn from a FirstBank account, ATH, Visa, MasterCard, or American Express. Cash payments are not accepted.
Automobiles
- Service available at all FirstBank branches. Customers must come in person. Alternatively, the designated person must bring a written authorization signed by the customer, including a copy of the customer's ID and the designated person's ID. The customer must endorse the insurance company's check on the back.
Repaired Automobile
- The check will be endorsed after the customer brings in their car for inspection.
- The loan must be in good standing.
- Non-Repaired Automobile
- Endorsement of checks up to $800.00, with account in good standing.
- Endorsement of checks from $801 to $1,500, after 12 payments have been made, with account in good standing and an excellent credit score.
- Checks from $1,501 to $4,000 will be replaced with a commercially endorsed check made out to the customer and the workshop that will repair the unit, provided that the loan is in good standing and at least 12 payments have been made.
- For checks in excess of $4,000, 50% will be withheld, and a check for half the amount will be made out to the customer and the workshop. Once the car has been repaired, the customer must bring it in for inspection and to receive the amount withheld, provided that the loan is in good standing.
Boats
- The customer must submit a letter from the workshop certifying that the craft's repair was duly completed.
- The customer must come in person and bring a photo ID. Alternatively, the designated person must bring a written authorization signed by the customer, including a copy of the customer's ID and the designated person's ID.
- If the account is in arrears, the customer should call 787-282-2888 for guidance.
I want to lease, then decide whether to buy the car.
A lease gives you the flexibility to have a loan on your own terms: a lower monthly payment and payment flexibility among other benefits.
Details
Interest rates range from
6.25% to 6.75% APR
Terms up to
72 months
Benefits
-
Lower monthly payments
-
Payment flexibility
-
You can upgrade to a new car
-
An executive will be with you at all times
Perfect for:
-
Changing your car frequently
-
Enjoying a new car
-
Spending less time and money in maintenance and repairs
CALCULATOR
There's an auto loan waiting for you.
Use our payment calculator to get your estimated monthly payment.
Calculate your monthly payment
Estimated monthly payment¹
$
1The monthly payment calculated is an estimate, and the final amount to be paid will depend on the total amount financed through FirstBank from January 1, 2023 to December 31, 2023. The first payment is assumed to be made within 30 days. The first payment will be higher because it includes the regular registration fee. Not all models qualify for 84 months. The MSRP may vary based on the auto manufacturer and/or dealer selected.
| Loan¹ and Term | APR |
|---|---|
|
Lease up to 60 months ²
|
Starting at 6.25%
|
|
Lease up to 66 months ²
|
Starting at 6.35%
|
|
Lease used up to 66 months ²
|
Starting at 6.75%
|
2With a maximum residual value of 35%. Does not apply to all makes and/or models.
***Subject to credit approval. Certain terms apply.
FREQUENTLY ASKED QUESTIONS
If you want to change your car frequently, it is more convenient to do so with a lease. New and more advanced models are released every year to meet consumer tastes. In addition, driving a new car reduces repair costs that are unavoidable over time. If you have a leased car and wish to upgrade, you can do so with no penalties. If there is a residual at the end of the lease term, we will help you obtain the appropriate financing for it. All subject to credit approval.
While with a conventional loan you incur daily interest charges during the 15-day period following your payment due date, with a lease you do not incur any charges during that period, but you will pay a charge for each installment that is more than 15 days late.
Certain restrictions apply. Subject to credit approval and other parameters established by FirstBank. Your interest rate may vary based on your credit history and other key financial factors, including but not limited to the amount approved for financing and rate of payment per income.