In this in-depth review, you’ll learn everything you need to know about Citizens One auto loans.
Citizens One is the brand name of Citizens Bank’s lending business. For a little background, Citizens Bank is the 12th largest retail bank in the United States, serving over five million customers and having branches in 11 states.
Citizens One offers a wide range of financial products including credit cards, personal loans, student loans, home loans, and auto loans. The auto loans are provided by Citizens One Auto Finance in partnership with 6,700 dealerships across the country.
Here’s more on how it works and the pros and cons.
Citizens One auto loans offerings
Citizens One Auto Finance offers loans for new and used cars, as well as trucks.
We work with dealerships. As a customer, you can go to the dealership and apply for a loan. If we work with that particular dealership, then your application will be sent to us.”
According to their customer service representative, “We work with dealerships. As a customer, you can go to the dealership and apply for a loan. If we work with that particular dealership, then your application will be sent to us.
We have loan officers who analyze applications to determine if you qualify, and the rates and terms for which you can get. We don’t have any set requirements for credit score or loan amount, but we do evaluate applicants on a case-by-case basis.”
Featured Auto Lenders
|Lending Partner||Minimum APR||Loan Amount|
|3.59% APR (with AutoPay)*||$5K to $100K*||Apply|
|1.99% APR*||$10K to $100K*||Apply|
|5% APR*||$7.5K to $45K*||Apply|
|1.99% APR*||Up to $15K|
Applying with Citizens One
While Citizens One offers an online application for refinancing student loans, no such option is available for auto loans. To apply, you must go to a dealership that works with Citizens One and apply there.
Making payments to Citizens One
Citizens One enables the management of payments through its PayMyLoan service. You can pay online or set up recurring payments from your checking or savings account.
You can also review your payment history, receive electronic receipts, and receive payment reminders online. If you prefer the old-fashioned way, you can pay in a branch, by mail, or by phone. Note that payments over the phone cost $12.50.
When making a payment online, the Citizens One loan login requires your last statement and/or account number and the last four digits of your social security number.
Customers complain about this being tedious, as a username and password would be more convenient, but are only available for bank members. Further, there are many complaints about problems with the payments system malfunctioning and charging late fees even though the customer was not at fault.
Citizens One Auto Finance customer service
The customer service number is 1-877-265-3278, and the payment phone number is 1-888-805-0200. Note the Citizens Bank auto loan payoff phone number is the same as the customer service number.
Citizens One Auto Finance has a less-than-stellar reputation for their customer service. Common complaints involve problems receiving the title after paying off the car (Citizens One uses My Title Support for its title management), settling the payment after insurance covers the cost of an accident, and making arrangements for a late payment.People also complain of a lack of empathy from customer service representatives, along with difficulty getting a straight answer.
While many customers say they were able to get a slightly lower interest rate from Citizens One Auto Finance, the general consensus is that the small discount wasn’t worth the hassle. The poor customer service and behind-the-curve technology end up causing issues and stress that leave customers willing to pay more for a better experience.
To read more about Citizens One Auto Finance, click here.
We encourage you to shop around before deciding on an auto loan lender (here’s how). There are many important factors to consider from beginning-to-end, which include the application process, rate, terms, fees, customer service, title management, and tech savviness.
While applying with the dealer is one option, you should also shop around for companies and banks that lend directly to you.
Bringing your own money to the table when purchasing a car from a dealer can give you more negotiating power. It can also ensure they don’t pull any funny business to increase their commission.
Although you shouldn’t completely rule out dealer financing, be sure to research the company that will be financing you as it is the one you will have to deal with. Further, research other options, get quotes and choose the best lender all-around.
Get competing rates from multiple lenders without hurting your credit score!