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National Bank of Arizona

The National Bank of Arizona is a division of the Zions Bancorporation and is the largest bank in Arizona. To apply for its auto loans, you must be a resident in Arizona.

National Bank of Arizona
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    How do the National Bank of Arizona auto loans work?

    The National Bank of Arizona’s auto loans can be a little more restrictive than some other auto loan lenders.

    You’ll be committed to minimum repayment terms of at least 36 months and are given a maximum of 72 months to pay.

    Interest rates can start from 4.10%, but upper limits aren’t disclosed.

    However, the bank states that it will use your FICO (Fair Isaac Corporation) score to primarily determine rates. The loan term and amount financed will also affect rates, but the bank does not give details.

    Credit score

    No minimum credit score is disclosed by the Bank of Arizona. You’ll have to complete the application process to see if you’re eligible.

    How Much Can You Borrow?

    You must borrow a minimum of $2,500. You may apply for a maximum of $250,000.

    What types of vehicles are eligible for financing?

    Only automobiles and recreational vehicles are covered.

    How do I qualify?

    You must be in full time employment and be a resident in Arizona.

    What documents do I need?

    You’ll need proof of employment and proof of identity, such as a passport or driving license.

    You’ll also need to submit personal details including social security number, date of birth, and proof of address.

    What are the fees?

    You may be charged some Motor Vehicle Department fees when your loan is closed.

    Other fees will be made clear on the application.

    How long does the loan process take?

    The application can be completed online in just 10 minutes. In some cases, your auto loan may be approved in minutes.

    However, some applications require further review and could take several business days.

    How to apply for an auto loan?

    You can fill in the short online application form, call customer services, or make an appointment to apply directly in-branch.

    What payment methods are supported?

    The National Bank of Arizona doesn’t disclose which payment methods are supported.

    However, the most common type of repayment for auto loans is via direct monthly payments from your bank account.

    Pros and Cons

    Pros

    • Fast online application. Approval may be within minutes
    • Low starting interest rates

    Cons

    • Auto loans are only available to residents of Arizona
    • Fees and charges are not made clear

    Is the National Bank of Arizona right for you?

    If you live in Arizona and are looking for a quick auto loan application, then the National Bank of Arizona could work for you.

    However, the interest rates aren’t the lowest out there and the repayment terms can be a little restrictive for some customers.

    Other auto loan providers, such as Capital One and Open Road, offer more choices and can put you in touch with multiple lenders.

    They may also be able to help you out if you have bad credit, whereas the National Bank of Arizona isn’t 100% clear on credit requirements.

    Your credit score may also be subject to a hard pull should you complete an application.

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