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First Internet Bank auto loans review

Last updated:  

A 100% online experience to finance more than just cars.

  • Best for borrowers looking for low starting rates for a used car loan from a private seller.
  • Pick something else if your vehicle costs less than $10,000.


Min. Loan Amount

Starting at 5.04%



Product NameFirst Internet Bank auto loans
Min. Loan Amount$10,000
APRStarting at 5.04%
Interest Rate TypeFixed
RequirementsAges 18+, US citizen or permanent resident

Expert review

Kellye Guinan

Review by

Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

First Internet Bank offers loans with a 100% online process. It has competitive starting rates, especially for buying a used car from a private seller. And unlike some auto lenders, it finances more than just cars — including RVs, boats and motorcycles.

If you’re looking for a lender that services all 50 states and has a quick application process, First Internet Bank may be a good choice to finance your next vehicle. However, loans start at a high $10,000 minimum. If you’re trying to buy a used car at a lower price, compare your other auto loan options instead.

First, am I eligible?

First Internet Bank (FIB) doesn’t list any hard credit or income requirements. However, you’ll need to meet two basic eligibility criteria to apply:

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

What types of auto loans does First Internet Bank offer?

First Internet Bank offers financing for a variety of vehicles, including:

  • Cars, trucks and SUVs. Rates start at 4.75%.
  • Horse trailers. Rates start at 4.74%.
  • RVs. Rates start at 4.74%.
  • Motorcycles. Rates start at 6.6%.
  • Boats. Rates start at 5.04%.

Loan terms typically last anywhere from one to five years for auto or motorcycle loans. Terms for horse trailer, RV and boat loans can span up to 15 years.

FIB offers loans for purchases from a dealership or private party. It also offers refinancing of your current auto loan to help you lower your monthly repayments, score a better interest rate — or both.


  • Loans for multiple types of new and used vehicles
  • Autopay APR discount of 0.25%
  • Coapplicants accepted
  • Available in all 50 states and US territories


  • High minimum loan amount
  • Limited information available online
  • No physical branch locations
  • Minimum $10 fee to pay by phone using your credit or debit card

Compare more car loan options

Data indicated here is updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
No minimum credit score
3.9% to 27.9%
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates. Car Loans
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
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.

Compare up to 4 providers

First Internet Bank reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 4 out of 5 stars, based on 4 customer reviews
BBB customer complaints 5 customer complaints
Trustpilot Score 3.3 out of 5 stars, based on 3 customer reviews
App Store Score 4.8 out of 5 stars, based on 499 customer reviews
Google Play Score 4.3 out of 5 stars, based on 594 customer reviews
Customer reviews verified as of 19 October 2020

First Internet Bank doesn’t have much in the way of online customer reviews. Both its Trustpilot and Better Business Bureau (BBB) pages have less than 10 reviews between them as of October 2020. And none of the reviews address its auto loan product.

How do I apply?

To apply for a vehicle loan from First Internet Bank, follow these steps:

  1. Visit First Internet Bank’s website and navigate to the Auto Loans page, then click Apply Now.
  2. Log in or create an account to begin the application.
  3. Read and agree to First Internet Bank’s disclosures.
  4. Select the loan purpose and vehicle type. If you know the vehicle you want to purchase, enter its make, model, year and mileage.
  5. Enter the vehicle’s estimated value and the amount you can put down, then enter your desired loan term. If you have a trade-in, enter its information as well.
  6. Enter your personal information, including your Social Security number, gross monthly income and monthly expenses.
  7. Review your application and click I Agree under the final disclosures to submit.

Once you submit your application, First Internet Bank will be in touch with you to discuss your next steps.

What documents do I need to apply?

You will need several pieces of information to apply:

  • Vehicle make, model and year (optional)
  • Social Security number
  • Date of birth
  • Government-issued photo ID
  • Gross monthly income

First Internet Bank may also require you to provide proof of insurance to finalize your application.

How do repayments work?

You can repay your loan by mailing a check to First Internet Bank or by setting up automatic transfers from your bank account. As a bonus, you can save 0.25% off your APR if you sign up for automatic transfers from your First Internet Bank checking account.

First Internet Bank also accepts debit or credit card payments by phone, but there’s a 3% transaction fee (minimum of $10) per payment.

Not sold on First Internet Bank? Get a car loan today by comparing rates from other providers.

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