US Bank Auto Loan Review

US Bank Auto Loan is offered by US Bank, a bank founded in 1863 and based in Minneapolis, MN. US Bank Auto Loan is available in 49 states across the USA.

How much can you borrow via US Bank auto loan?

US Bank auto loan loan amounts start at $3,000 and go up to $100,000.

What APR does US Bank auto loan offer on its car loans?

US Bank auto loan offers a fixed APR car loan product that ranges from 2.84% APR up to 7.64% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with US Bank auto loan?

US Bank auto loan has car loans with terms ranging from 12 to 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does US Bank auto loan charge an origination fee?

Yes, US Bank auto loan may charge a loan origination fee up to 1% of the auto loan amount.

Does US Bank auto loan charge a late fee?

Yes, US Bank auto loan charges borrowers with a late payment penatly fee

Does US Bank auto loan charge prepayment fees?

Yes, US Bank auto loan does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my US Bank auto loan loan?

Yes, you can. However, US Bank auto loan charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for US Bank Auto Loan?

Applicants with a credit score of at least 650 and up to 850 may be eligible for US Bank Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

US Bank Auto Loan does not have or does not disclose a minimum annual income eligibility requirement. US Bank Auto Loan will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via US Bank Auto Loan. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a car loan via US Bank auto loan?

US Bank auto loan will typically approve (or deny) a car loan application within 24 hours and fund the car loan within 7 business days of approval.

Does US Bank Auto Loan report your account activity to credit bureaus?

Yes, US Bank Auto Loan reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.