Savers Bank Indirect Financing
Put Your Customers in the Driver's Seat.
Savers Bank has been offering Indirect Lending for over 20 years and has the expertise and products to meet your customers needs. Serving Massachusetts, Connecticut and Rhode Island customers.
Indirect Financing Benefits
- Risk-based pricing four tiers
- Financing up to 72 months
- Financing available for MA, CT, and RI residents
- 15 min decisioning time (Mon, Tues, Wed, Fri – 8 am-4 pm; Thurs – 8 am-6 pm)
- Funding is processed to a Savers Bank checking account once loan package is received
- Reserve is paid at beginning of the month and deposited into a Savers Bank checking account
- Value on used vehicles is 100% of NADA retail + tax, title, registration and may add warranty (up to $3,500.00) and GAP (up to $800.00)
- Value on new vehicles is determined by MSRP or Sales Price + tax, title, registration, warranty (up to $3,500.00) and GAP (up to $800.00)
- Financing includes non-commercial light duty trucks and cars only
Effective as of January 2, 2024
 | Indirect Auto Loan Rates |
Model Year |
Term |
Tier 1 |
Tier 2 |
Tier 3 |
Tier 4 |
|---|---|---|---|---|---|
Auto (New - under 1,000 miles) |
Up to 84 mos |
7.42% |
8.17% |
8.67% |
10.67% |
Auto (2022 - New) |
Up to 60 mos |
6.97% |
7.72% |
8.22% |
10.22% |
Auto (2022 - New) |
Up to 72 mos |
7.42% |
8.17% |
8.67% |
10.67% |
Auto (2019 - 2021) |
Up to 60 mos |
7.42% |
8.17% |
8.67% |
10.67% |
Auto (2019 - 2021) |
Up to 72 mos |
7.92% |
8.67% |
9.17% |
11.17% |
Auto (2015 - 2018) |
Up to 60 mos |
7.92% |
8.67% |
9.17% |
11.17% |
Auto (2014 - Older) |
Up to 36 mos |
8.42% |
9.17% |
9.67% |
11.67% |
-If a credit score is not available and a co-borrower is required, rate will be based on higher score
-Joint applications: Rates are determined by highest FICO score of primary or co-borrower
-Model Year Term extensions have been eliminated
-Max Advance 100% of NADA retail, plus tax, title, registration, warranty, GAP
-GAP max $800.00, Extended warranty max is $3,500.00 All back-end products must be fully cancellable and refundable and copy of contract must be submitted
-Vehicle eligibility: trucks, cars, cargo vans (no financing for heavy duty Commercial vehicles)
-Proof of Income is waived per borrowers on credit scores of 680 or higher (can be requested at banks discretion)
-Transunion Fico Score 8
-LSI: $60.00
-Financing available for MA, CT, RI residents
-MA Lien Code C01824
 | The buy rate flat payments on dealer auto loans will be as follows: |
| Amount Financed | Reserve Amount |
|---|---|
| Under $5,000 | $100 |
| $5,000 - $7,499 | $125 |
| $7,500 - $9,999 | $250 |
| $10,000 - $14,999 | $450 |
| $15,000 - $19,999 | $550 |
| $20,000 - $29,999 | $550 |
| $30,000 - $34,999 | $700 |
| $35,000 and Up | $750 |
Financing up to $3,500.00 for mechanical care coverage. Reserve is paid the following month after the loan closes. GAP Policy: Savers Bank will finance up to $800.00.
Policy must comply with all State laws and limitations.
Contact our Indirect Lending Specialist:
Steven Carrington
AVP, Consumer Lending & Collections Officer, Savers Bank
Tel: 508-765-7356
Fax: 508-765-2343
scarrington@saversbank.com
Lienholder Address:
Savers Bank
270 Main Street
P.O. Box 250
Southbridge, MA 01550
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