Overview
Fifth Third Bank offers auto financing for purchases and refinancing at competitive rates in select states. Its loans stand out for in-person account support.
Key Details
- Loan amounts: Up to $80,000
- Rates: Not publicly disclosed
- Credit requirements: Not specified
- Funding time: Same day as closing
Best For
Fifth Third Bank auto loans are ideal for those who value conducting financing business face-to-face at branches with bankers.
How Fifth Third Bank Auto Loans Work
Fifth Third Bank issues direct auto loans to account holders and indirect financing through affiliated dealerships. Apply in-person at a branch or get pre-approved at the dealer.
Applying at a Branch
Visit one of 1,100+ Fifth Third Bank locations to meet with a banker who gathers your information and submits the application for review.
Pros and Cons of Fifth Third Bank
Pros
- Low auto pay discount rate
- Flexible terms up to 7 years
- Established 100-year-old bank
Cons
- Limited to 10 state footprint
- Rates not disclosed upfront
- No online applications
How Fifth Third Bank Compares to Competitors
How do Fifth Third Bank auto loans stack up to offerings from similar large regional banks?
Fifth Third Bank vs. Regions Bank
- Credit unions: Regions also offers loans to members only
- Loan amounts: Regions financing up to $100,000 available
Fifth Third Bank vs. KeyBank
- Loan terms: KeyBank max term only 60 months
- Discounts: KeyBank offers graduate and military discounts
READ ALSO: Ally 2024 Auto Loan Refinancing Review: Rates, Pros & Cons
Auto Loan Options From Fifth Third
Fifth Third Bank provides financing for purchasing both new and used vehicles, as well as refinancing existing auto loans.
New Car Loans
Finance your new car purchase at competitive rates through Fifth Third and its dealer partners.
- Amounts: Up to $80,000
- Terms: 48-84 months
- Rates: Not disclosed
Used Car Loans
Qualified Fifth Third account holders can finance used vehicles model year 2012 or newer.
- Amounts: Up to $80,000
- Terms: 48-84 months
- Rates: Not disclosed
Refinancing
Lower your rate by refinancing your existing auto loan through Fifth Third Bank.
- Amounts: Up to $80,000
- Terms: 48-84 months
- Rates: Not disclosed
How to Apply for Fifth Third Bank Financing
You can get Fifth Third Bank auto loans by following these steps:
- Visit a branch: Meet with banker to apply in-person for financing.
- Get pre-approved: Apply at the dealer to obtain approval from Fifth Third.
- Supply documents: Provide requested paystubs, tax returns, etc. to verify income.
- Sign your loan: Review terms and sign final loan paperwork.
Fifth Third Bank Auto Loan Fees
Typical fees from Fifth Third Bank include:
- $165 origination fee
- Late payment fees
- Insufficient fund fees
No application or prepayment penalties.
To Recap
For borrowers who prefer to finance a car purchase or refinancing in person with a banker at a branch, Fifth Third Bank delivers. Consumers in its 10-state footprint have access to competitive installment loans backed by personalized service from this established Midwest institution. Just confirm specific interest rates and fees with your banker upfront before signing off.
FAQs
What credit score is needed for Fifth Third Bank?
Fifth Third doesn’t disclose precise minimum requirements. But a good to excellent credit score above 700 gives you the best shot at approval and lowest available rates.
Does Fifth Third Bank offer special financing incentives?
Yes, Fifth Third Bank offers a 0.25% interest rate discount when you enroll in auto pay from a Fifth Third checking account. Recent college grads also get a rate discount.
Can I manage my Fifth Third auto loan online?
Yes. Although you can’t apply online, Fifth Third Bank auto loan accounts can be managed fully through its online and mobile banking platforms once established.
In another related article, RefiJet 2024 Auto Loan Refinancing Review: Rates, How it Works
