Auto loan rates often vary a bit from region to region. So it’s not quite accurate for a car buyer to compare auto loan rates in California with what’s offered in New York. Lenders in these regions compete with each other, generally within a state area’s range, since that more often represents the competition.

For those who are in the Oklahoma state region, for example, rates offered can range from 3 to 4 percent. So finding a loan rate below that middle range represents a good opportunity on what are already historically inexpensive financing rates for car loans.
The Bank of Oklahoma is currently offering a car loan rate deal below 2.75 percent, which is fairly competitive. This rate offering includes two pieces: the base loan rate of 2.97 percent on approval as well as an additional 0.25 percent credit if payments are made through automatic transfer versus paper billing. Normally, per its website, the bank’s 60 month car loan rate is higher, closer to 3.3 percent. So the deal offered currently according to Bankrate.com is a good change for vehicle financing at over a half point lower cost.

The Bank of Oklahoma has been in operation for decades and functions under the corporate umbrella of BOK Financial. Making a point of the fact that it is the largest institution to refuse federal government bailout funding during the 2008 Recession, the Bank offers both consumer and commercial banking services to the Oklahoma region.

Borrowers should expect that the Bank will rate final interest rate approval on applications based on the amount financed as well as the potential borrower's credit history and score. So the rate offered currently is a best-scenario possibility and not a guarantee.