After buying a home, the second largest purchase that most people will ever make is the purchase of a car. Since cars can cost tens of thousands of dollars, most car buyers will want to take out a car loan to finance the majority of the purchase. When looking for a car loan, a good lender to consider is SunTrust Bank.
SunTrust Bank is one of the largest consumer banking brands in the United States. The company currently has over 1,400 branches, many of which are in the southeaster part of the country. As SunTrust is one of the largest retail and consumer banks in the country, it is also one of the largest providers of car loans.
SunTrust is a very popular choice with consumers due to its convenience of applying for and being approved for a loan and its low interest rates. For car buyers that have a good credit score and are buying a new car with a repayment term of less than sixty months, it is very common to receive the best interest rate available of 1.74%. Those that are looking to purchase a used car or have a less than perfect credit score will likely still receive loan approval, but may have to pay a higher rate.
While the costs of the loan are attractive, the convenience of the loan is also well regarded by consumers. Many consumers have cited that easy online application process as being a big advantage of taking out a car loan from SunTrust Bank. Consumers that choose to get the loan online will normally receive an initial loan approval within just a few hours. Once approved for a loan, a consumer will essentially have a blank check to buy a car that fits the agreed upon parameters in the loan application. This can make it very easy to execute on the purchase of a car once you have found a car that you are interested in.
For consumers that did not like the online application process, the high quantity of retail branches seemed to be very helpful. For consumers in the southeast United States, the number of retail branches made it simple to meet with an auto loan specialist face-to-face in a branch location.