With APRs starting as low as 3.99% to 8.24% , you could be approved for financing in Up to 1 business day .
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|
|APR||3.99% to 8.24%|
|Interest Rate Type||Fixed|
- 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 Up to 1 business day .
- 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% to 8.24% 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.