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  US Bank Auto Loan

US Bank Auto Loan

in Auto Loans from US Bank

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US Bank Auto Loan

Unaffiliated

in Auto Loans from US Bank

SuperMoney Net Recommendation Score 0

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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2 users don't recommend
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Highlights
Community Rating Mostly recommended
Credit Score Range 650 - 850
Loan Amount $3,000 - $100,000
APR  (Fixed APR) 2.84% - 7.64%
Loan Term (Months) 12 - 72 months
Number of Reviews 5

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.

US Bank auto loan FAQ

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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From US Bank

Making our communities stronger is at the heart of everything we do. At U.S. Bank, we can be part of the solution in closing racial wealth gaps, creating greater financial wellness and addressing climate change. We support causes that strengthen our communities in areas related to work, home, and play. We’re helping to provide a social and economic foundation for achieving affordable housing, productive small businesses and culturally vibrant communities.

Hit the road with the right financing. Compare your auto financing options. Maybe you’re looking for a new or used car, or you want to refinance the one you’re currently driving. Drive away with competitive rates and flexible terms on a new car. Enjoy more buying power with our competitive used car interest rates. Refinance your car loan with terms and rates that work for you.

Message From Our Editor

What We Love About U.S. Bank Auto Loans

In addition to providing financing for used and new vehicles, U.S. Bank also offers the option to refinance an existing car loan. The loans available range in size from $3,000 to $100,000, and some consumers can finance up to 115% LTV without needing to make a down payment. Discounts are also available if you meet certain requirements, such as having a U.S Bank checking account with autopay and purchasing an EPA-Certified SmartWay vehicle.

What Could U.S. Bank Do Better?

Those who don’t have the best credit will need to pay a down payment to get an auto loan with U.S. Bank. Also, U.S. Bank often receives less than excellent ratings on its customer satisfaction and service. The company requires a large amount of information to get an auto loan, which can make the application process tedious and frustrating for some people. This is a massive bank that may not be the right choice for someone who prefers a more personal connection with a lender.

U.S. Bank Backstory

As the seventh-largest bank in the United States, U.S. Bank offers trusts, banking, investment, mortgage, and payment services. The bank serves individuals as well as businesses, other financial institutions, and various government entities. As one of the largest banks in the country, U.S. Bank has a division specifically designed to offer auto loans called U.S. Bank Auto Loans. Most people will have a U.S. Bank in their vicinity if they wish to visit a physical location.

The Verdict

Those with good credit who don’t mind working with larger banks may be happy with the auto loans from U.S. Bank. Others may find that a smaller bank is a better fit. Individuals who have spotty credit may also want to choose a bank or credit union that offers lower rates to borrowers with poor credit. But some will appreciate the rates at U.S. Bank and the discounts available for opening a bank account or choosing an eco-friendly vehicle.

When choosing an auto loan provider, make sure you know all of your options so you can get the best rate and terms. Click here to read reviews and ratings of many auto loans available today.

Availability

  Available in 49 states
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Origination Fee (%) Up to 1%
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
Minimum Age 18
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Credit Score Range 650 - 850
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
Loan Amount $3,000 - $100,000
APR (Fixed APR) 2.84% - 7.64%
Loan Term 12 - 72 months

US Bank Auto Loan Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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