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With APRs starting as low as 3.99%, you could be approved for financing in as little as 24 hours.
It’s important to look for the most competitive rates to keep your monthly payments down. We look at one of your auto loan choices with M&T Bank to help narrow down your options.
|Product Name||M&T Bank Auto Loan|
|Min Loan Amount||$2,000|
|Interest Rate Type||Fixed|
|Maximum Loan Term||7 years|
- US Drivers License or non-state ID and a Social Security Card
- Age 18 years or older
- Reside in an eligible state
First, do I qualify?
M&T Bank doesn’t offer any eligibility criteria on its site, so to find out whether you qualify for an auto loan with M&T Bank, you’ll need to go through its application process.
What makes an M&T Bank auto loan unique?
With 775 branches spread across nine states, M&T Bank is a large institutional lender with a variety of loan options and terms at its disposal. It offers competitive APRs and even a discount for current customers with a savings account or certificate of deposit.
In addition to its auto loans, M&T Bank offers home loans, business loans, personal loans and education financing options.
What types of car loans does M&T Bank offer?
- New car loans
- Used car loans
- Private party loans
- Dealership loans
What are the benefits of M&T Bank auto loans?
- Quick and convenient application. You can complete an application for an auto loan with M&T Bank online in just a few minutes.
- Fast approval. Once your information is verified, you can be approved in as little as 24 hours.
- APR discount for M&T customers. If you have a savings account or certificate of deposit with M&T Bank, you could qualify for a discount on your APR.
What to watch out for
- Limited state availability. Auto loans with M&T Bank are only available in Connecticut, Delaware, District of Columbia, Maryland, New Jersey, New York, Pennsylvania, Virginia and West Virginia.
- No refinancing option. If you already have an M&T auto loan, you can’t refinance for a lower rate.
- Lack of fee transparency. M&T doesn’t provide information about potential fees or loan costs on its site, so be wary of hidden penalties and fees.
Compare car loans
What do other customers have to say about M&T Bank?
M&T Bank is accredited with the Better Business Bureau, which gives it an A rating. Borrowers with this lender praise its knowledgeable and responsive customer service staff and enjoy online access to manage their accounts. However, borrowers with M&T Bank criticize the lender’s many services fees and warn potential borrowers of hidden penalties and loan charges.
Trustpilot doesn’t have sufficient information to conduct a review of M&T Bank.
What other types of vehicle loans are available with M&T Bank?
In addition to its auto loans, M&T Bank offers loans for other recreational vehicles, including:
- Jet skis
Snowmobile, jet ski and ATV loans could qualify for terms of up to 36 months, while RV and boat loan terms extend up to 240 months.
How do I apply?
Review the Terms and Conditions and submit your online application. If you prequalify for a loan, an M&T Bank loan officer will contact you to verify your submitted information.
- Social Security number
- A valid email address
- Income and employment information
- Available assets and liabilities
- The year, make, model, mileage and VIN number of the vehicle you’d like to purchase
M&T certificate of deposit or savings account number, if applicable
I got the M&T Bank auto loan. Now what?
- Set up automatic withdrawals. Log in to your online account with M&T Bank and set up automatic loan payments to make sure you never miss a payment.
- Review your loan information. Stay on top of potential fees and penalties by carefully reviewing your loan terms.
- Reach out to M&T customer service. Contact M&T’s customer support team but visiting a branch or calling 800-724-2440 from 6 a.m. to 9 p.m. or Saturdays and Sundays, 9 a.m. to 5 p.m. Eastern time.
M&T Bank is a large financial institution with several auto loan types and terms to choose from. With competitive APRs starting at 3.99% and additional APR discounts available for M&T Bank customers, this could be a good choice for those in need of auto financing.
Unfortunately, M&T Bank’s services are limited to only nine states. Make sure you compare your other car loan options with additional lenders, as you may be able to find a loan that better suits your needs.