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Car Loan
Routing number: 221571473
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Apply for a mortgage loan online
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Finance My Car
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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
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We are with you during the whole process
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Finance any make or model
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Financing available for up to 84 months
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You choose the terms
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Drive off the same day with your car
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Financing flexibility
Perfect for:
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Fixed interest for the life of your loan
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Buying a new or used car
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Lease buyouts
CALCULATOR
An auto loan is waiting for you.
Find out your estimated monthly payment with our payment calculator.
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, 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.
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 |
|---|---|
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Conventional up to 72 months
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Starting at 6.25%
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Conventional up to 84 months
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Starting at 7.15%
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Conventional used up to 84 months
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Starting at 7.55%
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FREQUENTLY ASKED QUESTIONS
The process takes a maximum of five (5) working days after the request. For in-person pickups, the customer must bring a current valid ID with photograph. Otherwise, the designated person must bring a written authorization from the customer, with a copy of the customer's identification as well as their own. This is free of charge.
· 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.
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
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Lower monthly payments
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Payment flexibility
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You can upgrade to a new car
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An executive will be with you at all times
Perfect for:
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Changing your car frequently
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Enjoying a new car
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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 |
|---|---|
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Lease up to 60 months ²
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Starting at 6.25%
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Lease up to 66 months ²
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Starting at 6.35%
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Lease used up to 66 months ²
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Starting at 6.75%
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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.
HOW TO APPLY
Ready to apply?
Make sure you have the following documents readily available.
- 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.
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Valid driver’s license.
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Proof of income: last two (2) pay stubs, or financial statements if you are self-employed.
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If employed: last two (2) pay stubs
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If self employed: financial statements
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If retired: proof of Social Security, pension or bank statements reflecting deposits
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Evidence of physical address (water or electric bills)
With these documents in hand, apply here.
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.