Auto loan rates are climbing again, just like 30-year mortgages on homes, so finding a loan offer below 2.5 percent is a bit like finding gold in the rough. That’s exactly the case with the auto loan offerings available right now from PNC Financial Services. The institution is currently offering a rate of 2.34 percent on a 60-month car loan to borrowers in the Ohio region. Alternatively, those who want a shorter 48-month loan can realize an interest rate of an even lower 2.24 percent. With the average rates currently being offered between 3 and 3.5 percent, PNC’s loan being a full point lower is a serious bargain.
PNC’s loan assumes the purchase will be for a new car or a relatively new one between 2012 and 2014 in terms of year of production. The rate is viable for car purchases up to $50,000.
PNC is a multiple service bank and financial institution that provides customers access to checking accounts, savings, real estate loans, CDs, credit cards, investment brokerage services, asset management and consumer loans. The institution also offers commercial banking services as well. The institution has a fairly wide reach, serving customers in Ohio, Indiana, Maryland, Kentucky, New Jersey, Florida, Washington D.C., Missouri, Pennsylvania, Indiana and Michigan as well as Wisconsin.
So if a borrower is located in Ohio, he should definitely be considering a loan with PNC to save hard-earned cash on lower interest. A loan rate at a full point lower is nothing to ignore.