Auto & Motorcycle Loans
Interest rates offered are dependent on the borrower’s credit score and other product terms and conditions. Best interest rates typically are available only to borrowers with credit scores of 740 or above. Loans financed over 72 months or greater require a minimum loan amount of $20,000. Loans with a term of less than 72 months require a minimum loan amount of $5,000. Other loan terms and available rates may vary based on whether the vehicle being financed is new or used. Other standard underwriting criteria apply. We reserve the right to withdraw this product and/or adjust available rates at any time without advance notice. Terms and conditions are subject to change without notice.
Payment Example – Auto Loan – New Vehicle
Based on a simple interest calculation using our best rate of 7.05 % for a $20,000 loan, this loan would have 60 monthly payments of $396.50 each at an annual percentage rate (APR) of 7.05 %.
Payment Example – Auto Loan, Used Vehicle
Based on a simple interest calculation using our best rate of 7.95 % for a $20,000 loan, this loan would have 60 monthly payments of $405.05 each at an annual percentage rate (APR) of 7.95 %.
HELOC/SmartLock™
1 Introductory 4.35% Annual Percentage Rate (APR) is effective for initial 6 months of the loan with automatic loan payments from a PeoplesBank checking account. After the introductory period, the rate converts to a variable (“permanent rate”). The permanent rate will vary with Prime Rate as published in the Wall Street Journal (the index) plus or minus a margin. The APR will never exceed 18% or go below 3.25%. As of 7/27/2024, the variable rate is 8.00 % for properties in Pennsylvania; the variable rate is 8.25% for properties in Maryland. APRs advertised are based on a minimum credit score of 740, maximum loan-to-value (LTV) ratio of 80%, and a minimum line of credit amount of $100,000. APRs advertised also include “auto pay” discount of 0.75% for setting up automatic loan payment (at or prior to HELOC account opening) and maintaining such automatic payments from an eligible PeoplesBank deposit account. A higher APR may be applied for loans with lower credit scores, higher LTV ratios, and discontinuance of auto pay.
All SmartLock™ accounts have a 10-year interest-only draw period, followed by a 20-year repayment period. Your monthly payments may increase, possibly substantially, once your credit line transitions into the repayment period. Fixed Rate / Fixed Term Advances under a SmartLock™ account are subject to different pricing. There is a $50 fee for each rate lock and a $75 fee for each unlock. Lock must be in place for a minimum of 12 months before it can be unlocked. This product requires proof of active homeowner’s insurance policy. For properties in Pennsylvania, a recapture fee of $250 applies if you close the account within 24 months of account opening. For properties in Maryland, certain taxes associated with the line will be paid by us at closing; you will be responsible for reimbursement of those taxes if you close your account within the first 24 months of account opening. Other standard underwriting criteria apply. Terms and conditions of this offer are subject to change without notice. We reserve the right to withdraw this offer at any time. Contact us for properties outside this area.