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First National Bank of Waseca
Lady purchasing an automobile

Consumer

First National Bank offers loans that fit any need and budget. Whether you're looking to buy a new car, take your dream vacation, or consolidate existing debt, First National Bank has a payment plan that fits your budget. Visit with any of our experienced loan officers about options that work for you.
 
We offer the following consumer loan products:
 

Auto Loans

We offer competitive auto financing rates whether you are purchasing a new or used vehicle from a franchise dealer or an individual. 
 
Loan amounts and rates are all based upon on the age of the vehicle and value of the car and the amount borrowed.
 
To complete your auto loan application, you will need the following:

  • Year, make, model and mileage and any additional features that would add value to the vehicle.
  • Purchase price (If purchasing from dealer a copy bring in a copy of your sales receipt)
  • Vehicle identification number or VIN, which is located on the left dashboard
  • If refinancing a vehicle with First National Bank please provide name, phone number and mailing address of current lender who has loan and amount of loan balance (for payoff)
  • Be prepared to maintain full coverage on any vehicle loans obtain. Shop local insurance agents and be prepared to give us your agent name and phone number. 
 

Recreational Loans

First National Bank offers loans for recreational vehicles. The amount we are able to borrow relies heavily on how much money you have contributed as a down payment and what type of vehicle you are looking at buying. 
  • Snowmobile
  • Motorcycle
  • Boat
  • Personal Watercraft
  • Motor Homes & Campers
 

Overdraft Protection 

Overdraft Protection provides a revolving line of credit available through your checking account that enables you to write yourself a loan or protect your account from an overdraft. Once approved you are able to request a loan under this plan whenever you draw your transaction account below a zero balance. You can draw against your account and obtain a loan by the following methods:
  • You write a check.
  • You make a purchase or make a withdrawal with your Debit Card.
  • You make a purchase or make a withdrawal with your ATM Card.
  • You authorize us to make a payment to a third person or another person.
 


Helpful Tips & Links

Helpful Links

 
Kelley Blue Book
www.kbb.com
 
FREE Annual Credit Report
www.annualcreditreport.com
 
Q & A: Credit Reports and Credit Scores
www.federalreserve.gov
 


Buying or Selling a Motor Vehicle: Tips for Title Transfer

Minnesota titles cars, trucks, motorcycles, buses, vans and large trailers. Except in special situations, the transfer of ownership must take place on the certificate of title. Minnesota does not title utility, boat, or snowmobile trailers with a gross vehicle weight less than 3,000 pounds unless there is a lien on the vehicle or the vehicle has been previously titled.
 

Where Do You Go to Transfer Vehicle Ownership?

You many transfer the ownership of a motor vehicle at any of the nearly 200 deputy registrar offices located throughout the state. You will find the office locations and hours online at Minnesota Department of Public Safety or by calling 651-297-2005.
 

Titled Vehicles

  • If you are the buyer, make sure you have the vehicle title before taking possession of the vehicle and that the owner's name printed on the front of the title is the person selling the vehicle to you.
  • Verify that the vehicle identification number (VIN) on the dashboard matches the number printed on the title.
  • Be sure you have a signed lien release card or notarized lien release form for all secured parties (lien holders). The name of the first secured party is printed on the front of the title, as is the total number of liens on the vehicle.

Seller

All sellers must hand print their name and sign in the assignment area of the title.
 
The seller must list the sales price of the vehicle in the sales tax description area on the back of the certificate of title.
 
The seller must enter the date of sale and complete any disclosure statements that apply:
  • Odometer Disclosure - Required for all vehicles except those that are ten years old or older, vehicles with a gross vehicle weight rating of more than 16,000 pounds, or vehicles that are not self-propelled
  • Damage Disclosure - Required for all vehicles except those that are six years old or older, and commercial vehicles with a gross vehicle weight of 26,000 pounds or more

Buyer

All buyers must complete the assignment and application portions of the title:
  • Full name, date of birth and signature is required for all buyers
  • If there is more than one buyer, the new owners may indicate rights of survivorship by using the conjuction "OR" between their names
  • The first owner on the application must list his/her residential address. If the post office will only deliver to a post office box, the applicant must submit a written statement attesting to that with the transfer
  • Buyers must indicate whether the vehicle is subject to a security agreement (loan) and all buyers must sign the application area
  • For motorcycles, the buyer must write the engine number on the face of the title
  • If the vehicle is operated commercially and the gross weight is more than 10,000, a USDOT number is required
 

Non-Titled Vehicles

  • If the vehicle has been issued a title, the transfer must take place on that title. If the title has been lost, the titled owner of the vehicle must obtain a duplicate title
  • If the vehicle has never been titled, the Minnesota registration card is acceptable proof of ownership
  • A foreign state registration card is not acceptable proof of ownership, even if the state that issued it does not issue a title to that particular type or model year vehicle. Please refer to "No Proof of Ownership"
 

Transfer of Vehicle Not Subject to Titling

  • The seller may assign ownership on the back of the Minnesota registration card, on an application for Minnesota registration (PS2000) or on a bill of sale that identifies the vehicle being sold and includes the date of sale and the name of the buyer
  • All buyers must complete an application to register a motor vehicle (PS2000)Full name, date of birth and signature is required for all buyers
  • If there is more than one buyer, the new owners may indicate rights of survivorship by using the conjunction "OR" between their names
  • The buyers must list their residential address. If the post office will only deliver to a post office box, the buyer must provide a written statement attesting to that 
  • Buyers must indicate whether the vehicle is subject to a security agreement (loan) and all buyers must sign the application area
  • For motorcycles, the buyer must write the engine number on the face of the title
    If the vehicle is operated commercially and the gross weight is more than 10,000, a USDOT number is required
 

No Proof of Ownership

When tangible proof of ownership for a vehicle cannot be established, Minnesota has no record of the vehicle, and the owner is not aware of any registration or title issued in another state, the vehicle may be issued a title if certain criteria are met. 
 
For more information about this process, please contact Driver and Vehicle Services or your local deputy registrar office.
 

Typical Fees

Typical transfer fees for a titled vehicle are:
  • $8 title fee
  • $2 for each lien recorded
  • $10 transfer tax
  • $3.50 Public Safety vehicle fee
  • $8.00 filing fee
  • Sales Tax - six and a half percent of purchase price
 

Questions?

Call DVS at 651-297-2126 or email motor.vehicles@state.mn.us 
 

Office Location Information 

By phone: 651-297-2005
Online: Minnesota Depart of Public Safety

- Minnesota Department of Public Safety, Driver and Vehicle Services Division
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