Vehicle rates

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Auto Rates

Offering great rates for all your lending needs!

New Auto Rates 2023 & 2024

Term Loan to Value Ratio Rate APR
72 Months* Up to 110% of Purchase Price 6.99% 6.99%
66 Months* Up to 110% of Purchase Price 6.74% 6.74%
60 Months* Up to 110% of Purchase Price 6.49% 6.49%
48 Months* Up to 110% of Purchase Price 6.24% 6.24%
36 Months* Up to 110% of Purchase Price 5.99% 5.99%

*Subject to Credit Approval. Your Rate may be higher. Additional terms may apply. Rate includes 0.25% preferred rate reduction with auto debit from an Andover Bank checking account. $200 loan fee waived. For a limited time only.  

Example 1: If you borrow at 6.99% (6.99% APR) for 72 months the monthly payment will be $170.49 per $10,000 borrowed.

Example 2: If you borrow at 6.74% (6.74% APR) for 66 months the monthly payment will be $181.80 per $10,000 borrowed.

Example 3: If you borrow at 6.49% (6.49% APR) for 60 months the monthly payment will be $195.66 per $10,000 borrowed.

Example 4: if you borrow at 6.24% (6.24% APR) for 48 months the monthly payment will be $236.00 per $10,000 borrowed.

Example 5: If you borrow at 5.99% (5.99% APR) for 36 months the monthly payment will be $304.23 per $10,000 borrowed.

Used Auto Rates

Year Max Term Rate APR
2022-2023* 60 Months 6.99% 6.99%
2021* 60 Months 7.49% 7.49%
2020* 54 Months 7.74% 7.74%
2019* 48 Months 8.49% 8.49%
2018* 36 Months 8.99% 8.99%

*Subject to Credit and Collateral Approval. Your Rate may be higher. Additional terms may apply. Rate includes 0.25% preferred rate reduction with auto debit from an Andover Bank checking account. $200 loan fee waived. For a limited time only.

Example 1: If you borrow on a 2022-2023 vehicle at 6.99% (6.99% APR) for 60 months the monthly payment will be $198.02 for a $10,000 loan.

Example 2: If you borrow on a 2021 vehicle at 7.49% (7.49% APR) for 60 months the monthly payment will be $200.39 for a $10,000 loan.

Example 3: If you borrow on a 2020 vehicle at 7.74% (7.74% APR) for 54 months the monthly payment will be $219.95 for a $10,000 loan.

Example 4: If you borrow on a 2019 vehicle at 8.49% (8.49% APR) for 48 months the monthly payment will be $246.50 for a $10,000 loan.

Example 5: If you borrow on a 2018 vehicle at 8.99% (8.99% APR) for 36 months the monthly payment will be $318.04 for a $10,000 loan.

*Please contact your nearest Andover Banking Center location for current rates on auto refinances.

How much can you afford?

Use our handy calculators to find out.

Got Additional Questions?

If you have questions about any of our deposit or loan programs, feel free to get in touch. We'll be happy to talk with you further and help you select the product that's right for your financial needs.

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