Auto Loans

If you’re looking to finance a new or used car, an auto loan can be your ticket to a smooth ride. At Merchants Bank, we make auto financing simple, competitively priced and supported by local, knowledgeable lenders.

With Merchants Bank in the driver’s seat, you get:

  • No bank application fee
  • No pre-payment penalty
  • Financing for up to 100% of purchase price or value
  • Access to loan information and balance via free Online Banking
  • Ability to refinance existing auto loans

You’ll receive personalized service and quick decisions from local lenders with years of experience.

Plus, if you enroll in automatic payments deducted from your Merchants Bank deposit account, you can qualify for a .25% discount off your interest rate.

Current Auto Loan Rates

  • New 2012 and 2013 vehicles, loan terms up to 60 months:
    • 3.90% Annual Percentage Rate (APR). Monthly payment may be estimated at $18.37 per $1,000 borrowed for 60 months.
      Apply Online
  • Used vehicles up to two years old, loan terms up to 60 months:
    • 4.150% APR. Monthly payment may be estimated at $18.49 per $1,000 borrowed for 60 months.  
  • Additional used auto loan rate and term options available, contact your local lender.

To qualify for a Merchants Bank auto loan, you must be:

  • 18 years of age or older
  • Living or working in Vermont or a community in a neighboring state adjacent to one of our branch locations
  • Willing to provide additional information if requested, certify your application information is true and correct, and allow the bank or a credit bureau to verify your information

Loans are subject to credit approval and are secured by the vehicle.

Download and print the Application form.

Call 1-800-322-5222 for more information.

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