PNC Bank auto loans review April 2018 | finder.com

PNC Bank auto loans review

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Get up to $50,000 for the car of your dreams with APRs as low as 2.5%.

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. We investigate your auto loan options with PNC Bank to help you decide if this is a suitable lender for you.

Product NamePNC Bank Auto Loans
Min Loan Amount$5,000
Max. Loan Amount$50,000
APRas low as 2.5%
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term6 years
RequirementsUS 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.
  • Vehicle must be 8 years old or less
  • Credit score of 630+
  • Valid driver’s license
  • US citizen or permanent resident

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.

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.

PNC Bank’s auto loans can be used to purchase a new car from a dealership, refinance an auto loan, purchase a car from a private seller or purchase a vehicle you’ve been leasing. 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

  1. New car loans. Enjoy the convenience and ease of shopping for a new car from the dealership with a preapproved check from PNC Bank.
  2. Used car loans. Use your PNC Bank auto loan at any licensed dealer to purchase a used car with APRs as low as 2.5%.
  3. Auto financing loans. Apply for a loan with PNC Bank online to refinance a preexisting loan on your vehicle and lower your monthly payments.
  4. 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.
  5. Lease buyout loans. Use PNC Bank’s car lease buyout loan to become the proud owner of the vehicle you’re leasing.

What are the benefits of a PNC Bank auto loan?

  • Check Ready Auto Loan. PNC Bank offers borrowers check ready 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.

Compare more car loan options

Rates last updated April 27th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Term of Loan Requirements
car.Loan.com Car Loans
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
300
Varies by lender
Must be at least 18 years old, a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Auto Credit Express Car Loans
Get connected with an auto lender near you, even if you have bad credit.
300
Typically 3 to 6 years
Must be at least 18 years old and a current resident of the US or Canada. Must be employed full-time or have guaranteed fixed income of at least $1,500/month.
myAutoloan.com Car Loans
Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.
550
24 to 84 months
Must be at least 18+ years old; have a Social Security number; make $24,000+/year; have no open bankruptcies.
LendingTree Auto Loans
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
Good to excellent credit
Typically 1 to 7 years
Must be a US citizen and 18+ years old. Must have good to excellent credit.
Capital One Auto Financing
You could qualify for a car loan of up to $40,000, but not all dealers accept this bank's financing.
Good to excellent credit
36 to 72 months
At least 18 years old, have a valid street address, have existing Capital One accounts in good standing. Car must be a 2006 model or newer with less than 120,000 miles.
Wells Fargo Auto Loans
Auto loans with high loan amounts to cover your car purchase or refinancing needs.
Good to excellent credit
1 to 6 years
Your income and assets must support your existing debt obligations and the desired loan amount.

Compare up to 4 providers

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 will become available one business day following 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 licence.
  • 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?

  • Sign up for automatic withdrawals. Not only will automatic withdrawals of your loan payments help streamline your repayment process, but should you choose to have your payments taken from your PNC Bank checking account, you’ll receive a 0.25% discount on the APR of your loan.
  • Contact PNC Bank customer service. Should you have any questions or run into difficulty repaying your loan, reach out to PNC customer service. Visit a branch during business hours to speak to a loan representative in person, email customer service for online support or call 888-762-2265 to speak to a PNC Customer Care Consultant, Monday through Friday, 7 a.m. to 10 p.m. and Saturdays and Sundays, 8 a.m. to 5 p.m. Eastern standard time.

Bottom line

Whether you’re purchasing a new or used vehicle from a licenced dealership or a private seller, PNC Bank auto loans can help get you the funds you need. Use your PNC auto loan to refinance an existing loan, purchase a leased vehicle or pick up a brand new car off the lot, check in hand.

Keep your eye out for loan fees and penalties, however, as PNC doesn’t offer this information on its website. Explore your additional financing options with other loan providers near you with our comprehensive guide to car loans.

Frequently asked questions about PNC Bank

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