Open navigation Main Menu Mortgages
Financing a home purchase Refinancing an existing loan Finding the right lender Additional Information
Looking for a financial advisor? Do our 3-minute quiz and connect the advisor you want today.
Main Menu Banking
Calculators to compare accounts Use the calculators and get assistance from Bank reviews
Looking for a financial advisor? Take our 3 minute quiz and match to an adviser today.
Main Menu Credit cards
Compare with other categories Compare using credit Compare with issuers Get advice
Are you looking for the ideal credit card? You can narrow your search using CardMatch(tm)
Main Menu Loans
Personal Loans Student Loans Auto Loans Loan calculators
Find a personal loan in just 2 minutes or less Answer some questions to receive offers with no impact to your credit score.
Main Menu for Investing
Best of Brokerages and robo-advisors Learn the basics Additional information
Looking for a financial advisor? Try our three minute test and then match up the advisor you want today.
Main Menu Home equity
Find the lowest rates Lender reviews Use calculators Knowledge base
Looking for a financial advisor? Do our 3-minute quiz and connect to an adviser today.
Main Menu Real estate
Home selling or buying an investment property Finding the right agent resources
Looking for a financial advisor? Try our three minute test and then match up the advisor you want today.
Main Menu, Food and Insurance
Car Insurance Homeowners insurance Other insurance reviews of the company
Looking for a financial advisor? Try our three minute test and then match up with an advisor today.
Main Menu Retirement
Retirement accounts and retirement plans Learn the basics Retirement calculators Other sources
Looking for a financial advisor? Take our 3 minute quiz and then match up the advisor you want today.
Open search Close search
Submit
Fifth Third Bank
Fifth Third Bank: 2023 Auto Loan Review Published 2023-01-01 00:00:00
Authored by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the ways and pitfalls of using loans to buy the car they want.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers gain the confidence to control their finances by providing clear, well-researched information that breaks down complicated topics into bite-sized pieces.
Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make smarter financial decisions by offering interactive financial calculators and tools as well as publishing objective and original content. This allows you to conduct research and compare information for free and help you make informed financial decisions. Bankrate has partnerships with issuers such as, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The deals that are advertised on this site are from companies who pay us. This compensation can affect the way and where products are displayed on this website, for example, for example, the order in which they may appear in the listing categories in the event that they are not permitted by law. This applies to our mortgage, home equity and other home loan products. But this compensation does have no impact on the information we publish, or the reviews you read on this site. We do not include the entire universe of businesses or financial offers that may be open to you.
About our reviews . Editorial disclosure The reviews are written by staff. Opinions expressed therein are solely those of the reviewer and are not reviewed or acknowledged by any advertising company. The information, including rates and fees provided in the review are accurate as of the date of the review. Look over the information on the right, and the lender’s site for the most up-to-date details.
A look 3.6 rating: 3.6 stars out of 5
Score of the Bankrate
Rating of Availability 4 stars out five
Affordability Rating 4 stars out of 5
Customers Experience Score: 4.4 five stars of 5
Transparency Rating: 2.5 stars out of 5
Find out about auto loan rates
The approximate Fifth Third Bank Loan amount between $2,000 and $80,000
Min. credit score of 660
APR from 6.41%-10.05 percent
Funds available in Same day, as close
Fifth Third Bank pros and cons Before submitting a Fifth Third Bank auto loan application, think about whether the advantages of an in-person transaction overpowers the drawbacks.
PROS Autopay discount
Range of repayment options
In-person convenience
CONS Limited state availability
APR with a high minimum
No prequalification
Fifth Third Bank, a regional bank that is headquartered in Cincinnati it offers financing for new and used vehicles and auto refinance loans to members who have checking or savings accounts. This, together with its through partnered dealers, makes it an excellent alternative for those who want an in-person contact. Financing is only available in the states Fifth Third serves: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina and Tennessee. Indirect credit, on the contrary side, is offered in all states , excluding Alaska, Hawaii, Louisiana and Wyoming.
Do you qualify? Financing is only available in the states that Fifth Third serves: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina and Tennessee. Indirect lending, on other hand, is accessible across all states, with the exception of Alaska, Hawaii, Louisiana and Wyoming. Fifth Third Bank does not outline specific requirements outside of having a residence in one of the states they serve and having a valid credit card if you’re seeking direct financing. What we like and do not like Fifth Third Bank offers the convenience of support in person, but is only available to drivers in some states.
What we love about the Autopay discount. Customers who borrow can enjoy a 0.25 per cent discount when they are linked to an account with a fifth Third check account. A variety of options for repayment. The loan can be financed anything from 12 to 75 months. In-person convenience. Fifth Third Bank operates at more than 1,100 branch locations across 10 states. We are not a fan of the limited state availability. Drivers from only 10 of 50 states are able to apply for an Fifth Third auto loan. High minimum APR. The minimum rate of 6.41 percent for dealer purchases and refinancing externally is greater than other lenders. No prequalification. It’s impossible to know how much you’ll pay until you complete your application. Contact information Fifth Third Bank Customer support is available Monday to Friday from 8 a.m. until 6 p.m. ET and on Saturdays between 10 a.m. until 4 p.m. ET. Assistance in person at branches of banks can assist you in the process of applying. You can also contact customer service 24/7 via online chat after you have become an account holder.
Auto loan types available Fifth Third Bank offers new and used automobile loans through direct and dealerships, along with loan refinancing.
Used and new auto loans
Loan quick facts Amounts: $2,000-$80,000 Terms: 12-75 months APR: 6.41%-10.05%
While Fifth Third Bank does not divulge much on its website regarding its used and new auto loans information, the information provided by an agent from the bank outlines details. Loans are able to be financed up to $80,000 and you can choose the term of between 12 to 75 years. Refinance
Loan quick facts Amounts: $2,000-$80,000 Terms: 12-75 months APR: 6.41%-10.05%
Refinancing your existing loan with Fifth Third Bank can be a great option to lower the monthly cost of your loan and also to adjust your rate. The minimum APR is 6.41 percent. Receive a .25 percent discount when refinancing a non-Fifth Third auto loan or enrolling to have your the payments automatically taken from a 5th Third bank account. Indirect financing
Loan quick facts Amounts: $5,000-$100,000 Terms: Varies by the dealership’s APR, which ranges from 48 to 84 months.
Fifth Third Bank also offers through its network of new franchise dealerships for vehicles. They are available in every state, with the exception of Alaska, Hawaii, Louisiana and Wyoming. How do you apply for a loan through Fifth Third Bank To apply for a Fifth Third Bank auto loan, you can either visit a banking branch within your region or call 866-671-553. Unfortunately, you are not able to apply online. However, you can manage your loan by using your online account once you have been approved. Before visiting a bank branch, use an opportunity to know what you can manage. While there is no charge for application, you will need the payment of an origination charge of $165, if you are willing to accept the loan conditions. After approval, make use of the option to pay by automatic to ensure you never miss a payment, as there are additional late fees.
The required information for applicants Valid form of identification Varies by the findings of the underwriter during the review process
Third Third Bank FAQs
What rate of interest should you expect with an auto loan from Fifth Third Bank? Fifth Third Bank does not provide auto loan rates online or via telephone. It is necessary to apply in writing to receive a loan estimate that includes borrowing costs.
Do you require good credit to qualify for an automobile loan at Fifth Third Bank? You may qualify even if you don’t have perfect credit, because Fifth Third Bank requires a minimum credit score of 666. Be aware that they only accept well-qualified borrowers, so it is beneficial to have a better credit score.
Can you apply on the internet for an auto loan with Fifth Third Bank? Unfortunately, no. You’ll need to schedule an appointment to talk with a banker , or call 1-866-671-5353 to formally apply for the loan.
Which Bankrate rates Fifth Third Bank
Overall score
3.6
The availability
4.0
The limited state availability is offset by numerous loan conditions and ample minimum and maximum loan amounts.
Affordability
3.4
The high APR, as well as unknown includes leave Fifth Third with a middling score.
Customer experience
4.4
Fifth Third allows for automatic payments, online access and support for customers seven days seven days a week.
Transparency
2.5
Fifth Third does not allow the loan prequalification and rates and fees are not disclosed online.
Methodology Bankrate considers 18 data points when selecting top auto loans. Acceptance criteria, whether rates and fees are available and the APR range are all factors that affect lender scores. These scores are broken up into four categories. Availability: Loan amounts and repayment options, dealership requirements, and state availability all play a role in this section. Accessibility: This section includes APR ranges and acceptance criteria, along with discounts and fees. Customer experience: The length of time you’re required to spend shopping, customer service availability, whether there’s an app and autopay availability are covered in this section. Transparency: This category is responsible for the availability of rates and fees and the availability of prequalification.
Disclaimer Reviewers are supervised by Bankrate.com staff. The opinions expressed in the review are only those of the reviewer and have not been reviewed nor accepted by any advertiser. The information such as rates and charges that are included in the review is correct at the time when the review first appeared. Check the data in the upper right hand corner of the page as well as the lender’s website to find the most current information.
Written by
Rebecca Betterton
Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the details of borrowing money to purchase the car they want.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers feel confident to take control of their finances with clear, well-researched information that breaks down complex topics into manageable bites.
Auto loans editor
About
Help
Legal Cookie settings Don’t sell my personal information
How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated for placement of sponsored products and services or when you click on certain links posted on our site. Therefore, this compensation may affect the way, location and when products appear within listing categories in the event that they are not permitted by law for our loan products, such as mortgages and home equity and other home loan products. Other factors, like our own proprietary website rules and whether a product is available in your area or at your self-selected credit score range may also influence the way and place products are listed on this website. Although we try to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
|
(c) 2023 Bankrate, LLC. A Red Ventures company. All Rights Reserved.
In the event you loved this short article and you wish to receive more info regarding payday loans online same day florida i implore you to visit our own web-site.