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You buy your new or used vehicle locally–why not finance it locally, too, with a friendly auto loan lender who shares the same roads in the Greater Oklahoma City area? When it comes to the auto loan application process, we offer personalized service from lenders you can trust.

Key Features

  • Competitive Rates
  • Variety of Terms
  • Local Processing
  • Competitive, fixed rates on new or used vehicles
  • A variety of terms to choose from
  • Terms can be customized to meet your needs
  • Local decision-making and loan processing in Central Oklahoma

Setting a budget for how much to spend on your next vehicle often comes down to the monthly auto loan payment. A good rule of thumb is to spend no more than 10%  of your monthly take–home pay on a car payment.

However, it’s best to look at your unique financial situation to determine how much you can comfortably afford to pay each month. Remember, you want to leave room to save for future car repairs as well as other “emergencies” that life brings.

In addition to a down payment, Oklahoma residents can expect to pay an excise tax of 3.25% of the purchase price on a new car and $20 on the first $1,500 of value on a used vehicle plus 3.25% of the remainder. Title and registration fees total are just over $100. For the most current details visit https://oklahoma.gov/tax.html.

Finally, remember that a longer loan term may give you a lower monthly payment, but you’ll pay more in interest over the life of the loan. So, it’s best to choose the shortest loan term you can afford.

Get pre-approved for your auto loan today so you can shop with confidence and enjoy greater bargaining power at the dealership. Our locally-based lenders will sit down with you to help you determine how much you can afford to spend on your next vehicle based on your down payment amount, the interest rate you’re approved for, and your desired loan term or monthly payment.

F&M Bank also offers auto loan refinance to help you get a better rate or term on your current car loan. Has your credit score improved since you got your loan? Have average interest rates fallen? Contact us to find out how you can save money by potentially lowering your auto loan interest rate.

To learn more about our auto loans or start an application, visit your nearest branch location in Edmond, Yukon, Guthrie, Kingfisher, Piedmont, or Crescent, OK. You can also apply online quickly and conveniently from the comfort of your home or office!

All loans are subject to credit approval.