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BMO Harris Bank auto loans review

Geared up with options to fit your budget — but only in eight states.

  • Best for existing customers who set up autopay from their checking account.
  • Pick something else if you live in a state without a BMO Harris Bank branch office.
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Min. Loan Amount


Min. Loan Amount$10,000
Interest Rate TypeFixed
RequirementsLive in an eligible state, 18+ years old, US citizen or permanent resident Fees — $75 processing fee

Review by

Kathryn Pomroy was a writer for Finder, specializing in loans. She has written for dozens of major publications, small businesses and many well-known personal finance companies, including LendingTree, Money Crashers, Quickbooks/Intuit, BankRate, LendEDU and more. Kathryn holds a BA in Journalism and drinks super bold coffee while eating peanut butter and honey toast.

Expert review

BMO Harris Bank offers rates as low as 5.3% on a $10,000 auto loan, and a range of payment options to help you make timely payments every month. People with good to excellent credit scores of 670 or higher have a better chance of getting approved, and it can help to have an existing banking relationship with BMO Harris.

Financing for both used models from 2013 on and new models are available. APRs are based on a number of factors including the model year you’re buying, your credit qualifications and the loan amount.

But BMO Harris Bank only offers loans where it has branch locations in eight states, and there’s no online application or prequalification available. You’ll also be charged a loan processing fee of $75 that’s included in the APR.

Live outside BMO Harris’s footprint or want to score a lower rate? Use our table to compare more auto loan options and get the best financing for your new ride.

First, am I eligible?

You must meet the following basic requirements to be eligible for a BMO Harris Bank auto loan:

  • At least 18 years old
  • US citizen or a permanent resident

BMO Harris also looks at your income and debt-to-income ratio when considering your eligibility for an auto loan.

Eligible states

You can currently only get a loan from BMO Harris in eight states.

  • Arizona
  • Florida
  • Illinois
  • Indiana
  • Kansas
  • Minnesota
  • Missouri
  • Wisconsin

What types of car loans does BMO Harris Bank offer?

BMO Harris Bank offers several auto loans, plus loans for motorcycles, RVs and boats. 

  • New car loans. Financing for a new car from a dealership.
  • Used car loans. A loan for a used car from a dealership.
  • Private-party car loans. Financing for a car from a nondealership seller or an individual.
  • Lease buyouts. A loan to cover the cost of buying your leased car.

Pros and cons


Besides offering competitive rates and terms to choose from, BMO Harris offers several other perks worth considering.

  • Autopay discount of 0.25% available when you use your BMO Harris checking account
  • Terms up to six years
  • Joint applications are accepted
  • 24-hour customer service and online banking


As with most lenders, there are a few things BMO Harris Bank could do better.

  • APRs include a $75 processing fee
  • No online application available
  • Only available in eight states
  • Limited information available online

See more car loan options

1 – 3 of 3

Name Product Filter Values Minimum credit score APR Loan term Requirements
No minimum credit score
3.9% to 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates.
Monevo Auto Loans
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit. Car Loans
Starting at 2.15%
550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old
Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.

Compare up to 4 providers

BMO Harris Bank reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 1.1 out of 5 stars, based on 73 customer reviews
BBB customer complaints 219 customer complaints
App Store Score 4.7 out of 5 stars, based on 22,238 customer reviews
Google Play Score 4.4 out of 5 stars, based on 4,871 customer reviews
Customer reviews verified as of 19 October 2020

As of October 2020, BMO Harris Bank receives exclusively negative customer reviews on its Better Business Bureau (BBB), save for one positive one from March of 2018. Auto loans aren't brought up much, but when they are customers complain of troubles making payments, lack of an online banking and fees associated with payments.

How do I apply?

You have to visit a BMO Harris Bank branch office to apply for a car loan. Follow these steps to find your nearest branch:

  • Go to the BMO Harris Bank website
  • Select Locations
  • Enter your city and state or ZIP code and click the magnifying glass

Click Call location to make an appointment

What documents do I need to apply?

While BMO Harris doesn't list the required documents on its website, you can expect to need at least the following:

  • Personal information, including Social Security number and driver's license
  • Contact information, including your address, email and phone number
  • Details about your employment, income and expenses
  • Information about the vehicle you're purchasing, including make, model and year

How do repayments work?

BMO Harris Bank offers a range of payment options. If you set up a checking account, you can qualify for a 0.25% rate discount when you opt for autopay. 

  • Use BMO Harris's online banking to pay over the Internet
  • Pay by phone by calling 888-340-2265
  • In person at any BMO Harris location
  • By mail

Taking out an auto loan is a big decision and should be made carefully. Read our guide to car loans to make sure you’re getting the very best deal.

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