Wells Fargo auto loans review April 2019 | finder.com

Wells Fargo auto loans review

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete.
  • Conditional approval will typically happen within 1 business day after submitting your application. In many cases, you will have your funds within a week.
Click here to start your application >>

If you’re in the market for a new car or want to refinance an old one, Wells Fargo can help.

finder.com’s rating: 3.4 / 5.0

★★★★★

There’s a lot of loan companies out there. But with more than 65 years of auto loan experience, Wells Fargo offers competitive rates and quick credit decisions. Explore the auto loans they can offer.

Product NameWells Fargo Auto Loans
Min. Loan Amount$5,000
Max. Loan Amount$300,000
APRStarting at 7%
Interest Rate TypeFixed
RequirementsYour income and assets must support your existing debt obligations and the desired loan amount.
Go to site

What are Wells Fargo auto loans?

Wells Fargo offers financing for used, new and private purchases as well as lease buyouts and refinancing. No matter what kind of auto funding you’re looking for, there’s likely one to meet your needs.

While you can apply for many loans online, financing a private purchase requires a visit to a Wells Fargo branch to speak to a lender.

In any case, if you need funding in a hurry, you can often get a decision in as little as 15 minutes, with terms that range from 12 to 72 months.

Wells Fargo auto loans are offered in all states except Louisiana.

How can I benefit from an auto loan from Wells Fargo?

Whether you’re looking to finance a purchase or refinance a loan you already have, Wells Fargo offers a number of features:

  • Fast financing. While most funding is received within a few days, same-day disbursements are available in some cases. Credit decisions can be reached in as little as 15 minutes.
  • Customer discounts. Existing Wells Fargo customers who qualify can earn discounts on the APR by signing up for automatic payments.
  • Credit score access. When you sign up for a Wells Fargo loan, you gain access to an online account manager. This tool includes the ability to check your FICO score, use financial tools and make payments on your balance.

What to watch out for

  • High loan amounts. With limits of up to $300,000, it can be tempting to borrow more than you need when it comes to financing your purchase. Getting a larger loan than necessary carries the risk of defaulting on payments and can hurt your creditworthiness. Make sure that whatever amount you finance, you can repay.
  • Interest influence. If you’re purchasing a used car with over 100,000 miles or that’s eight years or older, you may be met with higher interest rates. When setting an APR, Wells Fargo considers your credit history, the amount financed, your loan amount versus the car’s value and your banking relationship.
  • $5,000 minimum. If you are looking to make a purchase or refinance a loan for less than $5,000, Wells Fargo may not be your best option.

Compare more options for online car loans

Updated April 26th, 2019
Name Product Filter Values Minimum Credit Score Loan Term Requirements
300
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.
300
Varies by lender
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.
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Fair or better credit
From 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
510
Varies
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
Connect with a network of over 150 lenders to refinance your car loan.
Good to excellent credit
Varies by lender
Must be a US citizen and 18+ years old. Must have good to excellent credit.
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.

Compare up to 4 providers

Am I eligible for an auto loan with Wells Fargo?

Does an auto loan with Wells Fargo seems like a good fit? Here’s the basic criteria you’ll need to meet in order to be eligible:

  • You must have good to excellent credit.
  • You must be at least 18 years old.
  • You must be an American citizen or a permanent resident of the US.
  • Your income and assets must support your existing debt obligations and the desired loan amount.

What information do I need to apply?

If you’re ready to get financed and you meet the minimum requirements, have the information below handy when you apply:

  • Your full name, date of birth, Social Security number and a valid form of ID, such as your driver’s license or passport.
  • Your home address, email address and phone number.
  • Details about your employment, income and expenses.
  • Details about your current vehicle.

A selection of other Wells Fargo loans you could apply for

NameMin Credit ScoreMax Loan AmountAPR
Wells Fargo Personal LoansVaries$100,000 6.99% to 23.99% Read review
Wells Fargo Business LoansVaries$100,000 8% to 22.99% Read review
Wells Fargo Student LoansVaries$120,000 4.8% to 11.26% Read review
Wells Fargo Auto Loans680$300,000 Starting at 7% Read review

I got an auto loan from Wells Fargo. Now what?

If you’re an existing customer and looking to cash in on that APR discount, you’ll want to set up your automatic payments. Because payments begin 19 to 51 days from funding, choose a date — typically your payday — when you know you’ll regularly have funds in your account. That way, you can avoid account overdraft penalties.

If you won’t be using automatic payments, budget a repayment plan. You can make one-time payments online, over the phone, by mail or in person at your local Wells Fargo branch. Be sure those payments are on time to avoid late fees.

Bottom line

If you qualify for an auto loan from Wells Fargo, it can give you the financing to meet your needs. All loan products come with service and support along with free materials that explain vehicle financing.

Taking out a loan is a big decision and should be made carefully. Consider exploring your other options for auto loans to make sure you’re getting the best deal.

Have some more questions about Wells Fargo auto loans?

Loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate loan providers.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

  1. Default Gravatar
    wayneJuly 2, 2018

    how do I obtain a letter indicating that my Well Fargo auto loan has been paid off.?

    • Default Gravatar
      joelmarceloJuly 3, 2018

      Hi Wayne,

      Thanks for leaving a question on finder.

      The time it takes to receive your title or its equivalent varies. Generally, they release their lien on the vehicle in 3-10 calendar days. If you paid your balance with guaranteed funds, such as a bank issued Cashier’s Check, it could be released in as little as three calendar days.

      Your state’s processing requirements also affect the timeline, as some states process titles electronically, while others do not. Contact your local titling or registration authority to determine its title transfer process.

      For more detailed information on your Wells Fargo auto loan, you can call customer service at 1-800-559-3557, Monday – Friday, 8 am to 6 pm, Local time.

      Cheers,
      Joel

Go to site