As a community bank that serves the greater New York region as well as Florida state, TrustCo Bank and Company surprises folks that it's not a bigger institution than it is. However, since 1903 TrustCo has been in the business of banking, offering members and community residents traditional banking services as well as loans for a variety of consumer needs.
Currently, TrustCo Bank is offering a very competitive auto loan rate, which makes it the deal of the week. The institution is currently offering an auto financing package with an interest of 2.12 percent for a 60-month car loan. Further, the loan rate involved can be lowered even further by 0.125 percent if the borrower agrees to automatic payment withdrawals from his bank account versus traditional paper invoice processing. Even with today's competitive rates, a flat 2 percent auto loan is hard to beat anywhere else.
Trustco Bank dubs itself a hometown bank and makes every effort to be a community lending institution in both New York and Florida. The bank's auto loans are available for new and used cars, trucks and vans as well as recreational vehicles including boats, snowmobiles, campers and motor homes. Used vehicles and recreational vehicles will usually have higher rates than new vehicle financing, however. For example, used car purchases are currently receiving approved financing from TrustCo Bank at 2.99 percent.So if you're looking for a new car and need an auto loan with one of the least expensive interest rates, it's a good idea to have a discussion with a Trustco Bank branch in New York or Florida. The auto loan rate being offered by them is one of the best on the market right now as of March 2013.