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Flagstar Bank Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 5 Sep 2023
Fact checked

A quick review of Flagstar Bank auto loans

Flagstar Bank logo

Flagstar Bank has 435 branches across the Northeast, Midwest, Southeast, and West Coast. You can secure auto financing for multiple vehicles – cars, light trucks, SUVs, minivans, RVs, motorcycles, boats, and snowmobiles. In addition, you can enjoy rate discounts and no prepayment penalties.

Want to see what a Flagstar auto loan will cost? Try the Flagstar Bank auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key Flagstar Bank auto loan features

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: Up to 110% of car value.
  • Interest rates: Undisclosed.
  • Loan terms: Undisclosed.
  • Loan fees: $100 origination fee.
  • Discounts: Rate discount with autopay and for eligible borrowers.

FLAGSTAR BANK LOAN OPTIONS

New and used auto loans

Flagstar Bank has up to 110% financing choices for pre-owned and new cars, light trucks, SUVs, and minivans. Plus, you can refinance your current loan to lower your monthly payments.

Motorcycle and snowmobile loans

You can also buy a new motorcycle or snowmobile through Flagstar Bank. To know the interest rates and loan terms you qualify for, get in touch with the bank.

RV and boat loans

If you want to hit the road or waves, you can pick from Flagstar’s RV and boat loans, too. This loan allows you to finance up to 100%. Boat loans are available for models 5 years old and newer, while RV loans are open to new and used RVs.

Flagstar Bank auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

Change
Flagstar Bank

Flagstar Bank auto loan

Flagstar Bank auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Flagstar Bank auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a Flagstar Bank auto loan

Eligibility criteria

  • 18 years old or older
  • U.S. citizen or permanent resident alien
  • Individual borrower
  • Resident in California, Indiana, Michigan, Ohio, or Wisconsin

It also pays to know how to get an auto loan. The market is wide and competitive, so comparing different banks and other lenders can help you weigh your options. Through this, you can pick a loan you can manage and maintain.

What you’ll need to have ready

When you apply for auto financing with Flagstar Bank, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status
  • A list of monthly expenses

You may need to provide Flagstar with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

Each financial institution requires different auto loan documents. That said, preparing beforehand can make the process smoother and help you get a loan faster.

Ways to apply for a Flagstar Bank auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 877–281-9510

Additional Flagstar Bank auto loan details

  • Automatic payment: Available.
  • Loan approval times: Undisclosed, but it may be 1 business day to a few weeks depending on your application.
  • Rate discounts: 0.25% APR off for borrowers who set up autopay from a Flagstar bank deposit account. Also, a 0.25% rate discount with a Flagstar checking, savings, CD, or money market account.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: $0.
  • Co-borrowers allowed: No.
  • Co-signers: Undisclosed.
  • Ways to repay: Online banking, by mail, in a branch, and over the phone.
  • Hardship program: Undisclosed.

Vehicle restrictions and limitations

  • Maximum vehicle age: Used vehicles should be up to 7 model years old.
  • Maximum vehicle mileage: Undisclosed.
  • Other vehicle restrictions: Classic vehicles and tractor-trailers are ineligible.

PROS AND CONS

Pros

  • Borrow up to 110% of car value.
  • No prepayment penalties.
  • 0.25% rate discount with automatic payments.
  • 0.25% rate discount with a Flagstar checking, savings, CD, or money market account.
  • Borrowers with high credit scores may get lower APRs.
  • Autopay available.
  • Fixed rates for easier budgeting.
  • Purchase and refinance available.

Cons

  • Undisclosed rates and loan terms.
  • $100 origination fee.
  • Motorcycle and snowmobile loans only available to new models.
    Lack of online application.

Frequently asked questions

Does Flagstar Bank refinance car loans?

Yes. You can move forward with your existing loan and refinance it for lower monthly payments.

How to apply for a Flagstar Bank auto loan?

You can reach out to 877–281-9510 or visit a Flagstar branch to apply for vehicle financing.

Are Flagstar Bank car loan interest rates fixed or variable?

Flagstar offers fixed-rate vehicle loans.

Are there early repayment fees on Flagstar Bank vehicle finance?

None. The bank doesn’t charge prepayment penalties.

How do I qualify for an auto loan at Flagstar?

You should be at least 18 years, a U.S. citizen or permanent resident, and an individual borrower. Plus, you need to be a California, Indiana, Michigan, Ohio, or Wisconsin resident.

Will applying for vehicle finance with Flagstar Bank affect my credit score?

Flagstar will make a hard inquiry when you submit your application, which then temporarily lowers your score. But you can boost your credit score by consistently meeting your monthly payments.

How long does it take for a Flagstar auto loan to be paid into my account?

You will get the funds at the time of closing.

Video: Working with you to achieve your financial goals | Flagstar Bank

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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