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FirstMerit Auto Loan Rates and Calculators | How to Apply

FirstMerit offers to its users a calculator to help you determine your monthly car loan payment or purchase price. Enter your current information, calculate and analyze the graphs. You can change down payment amount  and loan term to see how they can impact your monthly payment.

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Auto Calculator

Fill in with the information bellow and see the results by clicking on ‘Calculate’:

firstmerit-auto-loan-calculator-1

Car Financing

  • Start by choosing the type of calculation between Monthly Payment or Purchase Price
  • Total Purchase Price (sales tax will be automatically calculated)
  • Loan Term
  • Interest Rate

Down Payment

  • Rebates and Cash Down
  • Trade Allowance
  • Amount Owed on Trade

Taxes and Fees

  • Fees (non taxable)
  • Fees (taxable)
  • Sales tax rate (%)

The calculator is the same as the image above, notice that you can click on your spacebar in order to view the full report with graphics and the whole amortization schedule.

Enter the following;

firstmerit-bank-auto-loan-vs-home-equity-loan

 

  • Total Purchase Price Before Tax
  • Term in Months
  • Auto Loan Interest Rate (%)
  • Home Equity Interest Rate (%)
  • Home Equity Closing Costs
  • Federal Tax Rate
  • State Tax Rate

After entering the applicant will be instructed to write the downpayment and the taxes/fees. A chart will pop-up with any savings and/or waste.

How to Apply

There are three (3) ways to apply;

Applying Online

Step 1 – Go to This WebPage

The following must be entered about the applicant;

About the Loan

  • Amount
  • Type
  • Description

About Yourself

  • First Name
  • Middle Initial
  • Last Name
  • Jr/Sr
  • Street
  • Apt #
  • City
  • State
  • Zip Code
  • Date of Birth (DOB)
  • Social Security Number (SSN)
  • Contact Phone
  • Email

About Your Income

  • Source of Income
  • Current Employer
  • Years with Employer
  • Position or Title
  • Street
  • City
  • State
  • Zip Code
  • Work Phone
  • Gross Monthly Income
  • Other Income
  • Other Sources of Income

Previous Employer

  • Previous Employer
  • Years at Job
  • Street Address
  • City
  • State
  • Zip Code

Click the Next button on the bottom of the page and you will be brought to the residency page which will verify that you are located in an area that FirstMerit serves. Once complete the loan review will take anywhere from 24 hours to 5 days to complete.

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