New/Used Vehicles
Whether your next set of wheels will be new or used, we have financing options to suit your payment preferences.
Features
- Flexible financing terms
- Pre-qualify before you test drive
Auto Loan Center
We will help put your vehicle buying plans into motion.
Maine State Auto Advantage
Features
- Low Monthly Payments: Enjoy lower payments compared to traditional loans.
- No Hidden Fees: No acquisition fees, security deposits, prepayment penalties, or early termination fees.
- Flexible Mileage Options: Choose from 7,500 to 18,000 miles per year based on your driving needs.
- End of Term Flexibility: Option to walk away from the final residual payment by surrendering the vehicle.
- Wide Range of Eligible Vehicles: From future models to those up to 5 years old with specified mileage limits.
- Protection Against Excess Wear & Tear: Coverage available for vehicles up to 2 years old, providing up to $5,000 towards excess wear and tear on surrendered vehicles.
Qualifications
- Future year: 30,000
- Current year: 30,000
- 1 year used: 45,000
- 2 years used: 60,000
- 3 years used: 75,000
- 4 years used: 90,000
- 5 years used: 105,000
Keys to Your Future
When you're ready to buy your first set of wheels, we can help. This first-time auto loan program is designed for young adults ages 18-25 and is a great way to build credit.
Keys to Your Future can help you buy your first car and start building your credit history through your own responsible financial behavior. All you need is a year of steady income, and the dedication to stay on the right path. And the program comes with solid car-buying advice that will help you get behind the wheel in a good car that you can afford.
Keys to Your Future also features a super-inviting checking account. There are no fees or minimum balances, offers cash back on transactions, free ATMs, mobile banking, and overdraft forgiveness. It also comes with advice on responsible financial behavior.
Features
- No credit needed
- We'll teach you about credit and why it's important to pay your loans and bills on time so you can build credit for the future
- Option to make payments from a Simply Free Checking Account
Pre-Purchase Checklist
Before you buy, make sure to:
- Research the car you want and how much it should cost:
- Check the history of the vehicle - How many owners has it had? Has it ever been in an accident?
- Take it for a test drive
- Have it checked out by a trusted mechanic (if you are purchasing from a third party - most dealerships offer pre-certified autos)
- Understand what your cost of insurance will be
- Know how many miles per gallon will it get
Additional Considerations
What can you afford? Your auto loan should not exceed 20% of your monthly income. This includes auto payments, gas, insurance, as well as maintenance and repairs.
What type of vehicle do you need? Will you be driving a lot commuting to school or work, or do you just need something to get around town?
Are you prepared for additional expenses? Budget for title, tax, registration and license plates costs.