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US Bank Auto Refinance
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| Loan Amount | $3,000 - $100,000 |
| APR (Fixed APR) |
Starting at 3.59% (Verified 08/04/2023)
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| Loan Term (Months) | 12 - 72 months |
| Credit Score Range | 650 - 850 |
US Bank Auto Refinance Review
US Bank auto refinance is an auto loan refinance offering by U.S. Bank, based in Minneapolis, MN. Founded in 1863, U.S. Bank offers auto refinance loans in 16 states across the USA.
Key Takeaways
- APRs starting at 3.59%. There are average starting rates for an auto refinancing loan. If you have good credit you may qualify for a loan with better rates.
- Fair credit accepted. The credit score needed for US Bank Auto Refinance is relatively low. Borrowers with a credit score as low as 650 may qualify for US Bank Auto Refinance.
- Vehicle requirements. Vehicles must have less than 100,000 miles.
- Refinancing for large loan amounts. You can refinance auto loans of up to $100,000 with US Bank Auto Refinance.
- Fast process. In some cases you can refinance your auto loan within 1 business day.
- Hard credit pull required. You can't check your rates or see if you prequalify for US Bank Auto Refinance without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the auto refinance loan early.
- Long loan terms. US Bank Auto Refinance offers loan terms of up to 72 months. Most auto refinancing loans have a maximum term of 60 months.
US Bank auto refinance Pros & Cons
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US Bank auto refinance FAQ
How much can you borrow via US Bank auto refinance?
Auto refinance loan amounts start at $3,000 and go up to $100,000.
What are the auto loan refinancing rates offered through US Bank auto refinance?
US Bank auto refinance offers a fixed APR car loan refinancing product that ranges from 3.59% APR.
What is the maximum loan term you can get with US Bank auto refinance?
US Bank auto refinance offers auto refinancing with terms ranging from 12 to 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.
Does US Bank auto refinance charge an origination fee on auto refinance loans?
Yes, US Bank auto refinance charges a loan origination fee.
Does US Bank auto refinance charge a late fee?
Yes, auto refinance loans via US Bank auto refinance are subject to late payment penalty fees.
Does US Bank auto refinance charge prepayment fees?
Yes, US Bank auto refinance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment feees can reduce or even cancel the interest savings of repaying a loan early.
What do you need to qualify for US Bank Auto Refinance?
Applicants with a credit score of at least 650 and up to 850 may be eligible for US Bank Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.US Bank Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement. US Bank Auto Refinance will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.
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 Refinance. Their rates fall within the limits of The Military Lending Act.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Driver's license
- Government issued photo ID
- Proof of identity
- Proof of citizenship or residence permit
What is the maximum mileage to refinance with U.S. Bank?
U.S. Bank is an option for high-mileage vehicles. They will consider car loan applications for vehicles with up to 100000 miles on the odometer.
What is the estimated funding time for a car loan refinance with US Bank auto refinance?
Auto refinance loan applications are typically approved (or denied) within 24 hours and funded within 1 to 7 days of approval.
Is U.S. Bank a legit company?
U.S. Bank was founded in 1863, it is a well-established company with approximately 74,000 employees that has been in business for 160 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
Message From US Bank auto refinance
Contact
- Headquarters
-
800 Nicollet Mall
Minneapolis, MN 55402 USA - (800) 872-2657
- Visit Site
- Email Support
Other Services by U.S. Bank
Availability
- California
- Colorado
- Idaho
- Illinois
- Iowa
- Kansas
- Minnesota
- Montana
- Nebraska
- Nevada
- North Dakota
- Oregon
- South Dakota
- Utah
- Wisconsin
- Wyoming
Feature Breakdown
| Credit Score Range | 650 - 850 |
| Employment Statuses Considered |
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| Immigration Status Considered |
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| Joint Loan Applications Accepted |
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| Maximum Mileage | 100,000 |
| Military Status |
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| Minimum Age | 18 |
| Supported Income Types |
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| Verification Documents Required |
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