Conventional Loan
We offer conventional vehicle financing so you can have the peace of mind of owning your car.
Interest rates from
Terms up to
We are with you during the whole process
Finance any make or model
Financing available for up to 84 months
You choose the terms
Drive off the same day with your car
Financing flexibility
Fixed interest for the life of your loan
Buying a new or used car
Lease buyouts
1The monthly payment calculated is an estimate, and the final amount to be paid will depend on the total amount financed through FirstBank from January 1, 2024 to December 31, 2024. The first payment is assumed to be made within 30 days. The first payment will be higher because it includes the regular registration fee. Not all models qualify for 84 months. The MSRP may vary based on the auto manufacturer and/or dealer selected.
Certain restrictions apply. Subject to credit approval and other parameters established by FirstBank. Your interest rate may vary based on your credit history and other key financial factors, including but not limited to the amount approved for financing and rate of payment per income.
Loan¹ and Term | APR |
---|---|
Conventional up to 72 months
|
Starting at 6.25%
|
Conventional up to 84 months
|
Starting at 7.15%
|
Conventional used up to 84 months
|
Starting at 7.55%
|
Con esos documentos a la mano,
accede aquí.
Valid driver’s license.
Proof of income: last two (2) pay stubs, or financial statements if you are self-employed.
If employed: last two (2) pay stubs
If self employed: financial statements
If retired: proof of Social Security, pension or bank statements reflecting deposits
Evidence of physical address (water or electric bills)
At least ten (10) business days must have passed since the settlement. If the settlement was made in cash, certified check, or money order, you may request it immediately.
Conventional Loan
At least ten (10) business days must have passed since the settlement. If the settlement was made in cash, certified check, or money order, you may apply immediately. You may request the Certificate of Title at the Auto Customer Service Center or the First Line Customer Center, by calling at 787-725-2511 or 1-866-690-2511, at any time, seven days a week.
You must specify whether you wish to receive the title by mail or pick it up at the Auto Customer Service Center or the Auto Center in Mayagüez (located at Mayagüez Town Center).
The title will be processed as requested by the customer, within no more than five (5) business days after the request is submitted.
For in-person pickups, customers must come in and show a photo ID. Alternatively, the designated person must bring a written authorization signed by the customer, including a copy of the customer's ID and the designated person's ID. This service is provided at no cost.
Leasing Loan
At least ten (10) business days must have passed since the settlement.
Auto Transfers – Active Loan
Important Notes:
While a conventional loan incurs daily interest charges for 15 days after your payment is due, a lease incurs no fees during this period. However, you will need to pay a fee for every payment that is late for more than 15 days.
If you want to switch your car frequently, it is more convenient to do it with a lease. Every year, new and more advanced models are released to satisfy customers. Besides, continuing to drive new cars helps reduce your mechanic workshop expenses, which are inevitable over time. If you lease a car and wish to make an upgrade, you can do it without incurring penalties. If there is a residual after this term, we help you find the appropriate financing option to handle it. The above is subject to credit approval.
Contrary to conventional loans, when you lease a car, you can set aside up to 35% in residual value, depending on the car’s make and model. The residual value is a portion of the principal value whose payment is postponed until the end of the lease term. At the end of the financing term, you have the option of acquiring the vehicle by financing it or paying the residual in full. You may also change your vehicle again, getting the most convenient financing alternative for the residual value. This results in a lower monthly payment to better fit your budget.
Also, it is important to note that the insurance policy is not part of the lease financing, further reducing your monthly car payment. In addition, if you have other cars with separate insurance policies, you can ensure your leased car as part of the master policy you already have.
Automobiles
Repaired Automobile
Boats
A lease gives you the flexibility to have a loan on your own terms: a lower monthly payment and payment flexibility among other benefits.
Interest rates range from
Terms up to
Lower monthly payments
Payment flexibility
You can upgrade to a new car
An executive will be with you at all times
Changing your car frequently
Enjoying a new car
Spending less time and money in maintenance and repairs
1The monthly payment calculated is an estimate, and the final amount to be paid will depend on the total amount financed through FirstBank from January 1, 2023 to December 31, 2023. The first payment is assumed to be made within 30 days. The first payment will be higher because it includes the regular registration fee. Not all models qualify for 84 months. The MSRP may vary based on the auto manufacturer and/or dealer selected.
Loan¹ and Term | APR |
---|---|
Lease up to 60 months ²
|
Starting at 6.25%
|
Lease up to 66 months ²
|
Starting at 6.35%
|
Lease used up to 66 months ²
|
Starting at 6.75%
|
2With a maximum residual value of 35%. Does not apply to all makes and/or models.
***Subject to credit approval. Certain terms apply.
If you want to change your car frequently, it is more convenient to do so with a lease. New and more advanced models are released every year to meet consumer tastes. In addition, driving a new car reduces repair costs that are unavoidable over time. If you have a leased car and wish to upgrade, you can do so with no penalties. If there is a residual at the end of the lease term, we will help you obtain the appropriate financing for it. All subject to credit approval.
While with a conventional loan you incur daily interest charges during the 15-day period following your payment due date, with a lease you do not incur any charges during that period, but you will pay a charge for each installment that is more than 15 days late.
Certain restrictions apply. Subject to credit approval and other parameters established by FirstBank. Your interest rate may vary based on your credit history and other key financial factors, including but not limited to the amount approved for financing and rate of payment per income.