PNC Bank auto loans review
Get up to $50,000 with a competitive rate for the car of your dreams.
If you’re raring to hit the open road with a brand new car but don’t have the cash to cover it, an auto loan could be a practical funding solution.
Whether you’re investing in your future with a car that will grow alongside your budding family or simply want an upgrade from what you’ve been driving the past few years, an auto loan from PNC Bank could help.
Min. Loan Amount
Max. Loan Amount
Starting at 3.69%
|Product Name||PNC Bank Auto Loans|
|Min. Loan Amount||$5,000|
|Max. Loan Amount||$50,000|
|APR||Starting at 3.69%|
|Interest Rate Type||Fixed|
|Requirements||US citizen or permanent resident with a valid driver’s licence and a personal credit score of 630+ purchasing a vehicle that is 8 years old or less.|
Do I qualify?
To be eligible for an auto loan from PNC Bank, you meet the following criteria:
- You must have a valid US driver’s license.
- You must have a personal credit score of at least 630.
- The vehicle you wish to purchase must be no more than eight years old.
- You must be at least 18 years old and a US citizen or permanent resident.
If you’re not a US citizen or permanent resident, you’ll still need a valid Social Security number to apply. Otherwise, you won’t be eligible for this loan.
PNC Bank auto loans overview
PNC Bank is a Pittsburgh-based financial services group that currently operates over 2,500 branches across 19 states and Washington, DC. PNC Bank offers a wide array of banking products and services to its customers, including checking and savings accounts, credit cards, home loans and auto loans.
You can use an auto loan from PNC Bank to purchase a new car from a dealership or private seller as well as buy out a lease or refinance your current loan. It offers the Check Ready Auto Loan to qualifying applicants looking to shop for a new car like a cash buyer with a preapproved PNC Bank check in hand.
5 types of car loans offered by PNC
- New car loans. Enjoy the convenience and ease of shopping for a new car from the dealership with a preapproved check from PNC Bank.
- Used car loans. Use your PNC Bank auto loan at any licensed dealer to purchase a used car with APRs of Starting at 3.69% .
- Auto refinancing loans. Apply for a loan with PNC Bank online to refinance a preexisting loan on your vehicle and potentially lower your monthly payments.
- Private party loans. If the car you want is available from a private seller, use your PNC Bank auto loan to cover the upfront cost.
- Lease buyout loans. Use PNC Bank’s car lease buyout loan to fully purchase the vehicle you’re leasing.
Compare more car loan options
What are the benefits of a PNC Bank auto loan?
- Check Ready Auto Loan. PNC Bank offers borrowers loans that allow you to purchase your vehicle with the flexibility and convenience of a cash buyer with check in hand.
- Convenient online application. There’s no need to book an appointment with a loan specialist to apply for your PNC Bank loan when you can complete your application entirely online.
- Receive a decision in minutes. After filling out your PNC Bank auto loan application, you can expect to receive a decision in as little as 15 minutes.
- APR discount. Receive a 0.25% discount on your APR when you sign up for auto payments from your PNC checking account.
- No prepayment fees. Pay your loan off as soon as you’d like without the hassle of early payment penalties.
What to watch out for
- Limited availability. Currently, PNC Bank auto loans are only available in 19 states and Washington, DC.
- Lack of fee transparency. While PNC Bank provides plenty of information on its application process and funding turnaround, it is woefully lacking in its fee schedule transparency.
- Older vehicles ineligible for funding. PNC Bank doesn’t offer auto loans for vehicles older than eight years.
What do customers say about PNC Bank?
PNC Bank isn’t accredited by the Better Business Bureau, and it has a B- rating on the website with over 95% negative customer reviews. However, some borrowers with PNC Bank say that the its interest rates are competitive and that loan officers are flexible should you run into trouble repaying your loan. They also caution potential applicants against additional fees and charges on loans that can be tedious to negotiate.
How do I apply?
Review your submitted information and PNC Bank’s Loan Application Agreement and Disclosures. Click Submit.
You should hear from a PNC Bank loan specialist within one business day to confirm your submitted information. If approved, your funds may be available as soon as one business day after the submission of your loan documents.
What information and documents do I need to apply?
- Social Security number.
- A valid email address.
- A valid US driver’s license.
- Proof of residence, including government-issued ID with your current address.
- Income and employment information, including recent pay stubs.
- Available assets and liabilities.
- Your most recent tax return.
I got the PNC Bank auto loan. Now what?
Once you have your loan, take these steps to save yourself time and money.
- Sign up for automatic withdrawals. If you have a PNC Bank checking account, you can receive a 0.25% discount on the APR of your loan when you make automatic payments.
- Contact PNC Bank customer service. Should you have any questions or run into difficulty repaying your loan, reach out to PNC customer service.
PNC Bank auto loans can help get you the funds you need when you’re looking to purchase your next vehicle or refinance your loan. Keep your eye out for loan fees and penalties as PNC doesn’t offer this information on its website. If you aren’t a member or want to compare more loan options, your can read our comprehensive guide to car loans.