Last Updated: 04/18/2025
Wells Fargo Auto Refinance
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Last Updated: 04/18/2025
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Highlights
Community Rating
Strongly recommended
Amount Range
N/A
APR (Fixed APR)
3.88% - 19.51%(Verified 06/21/2024)
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Credit Score Range
650 - 850
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Loan Term (Months)
Up to 72
Number of Reviews
Wells Fargo Auto Refinance Review
Wells Fargo Auto Refinance is an auto loan refinance offering by Wells Fargo Bank, based in San Francisco, CA. Founded in 1852, Wells Fargo Bank offers auto refinance loans in 50 states (and Washington, DC).
What are the auto loan refinancing rates offered through Wells Fargo Auto Refinance?
Wells Fargo Auto Refinance offers a fixed APR car loan refinancing product that ranges from 3.88% APR up to 19.51% APR.
What is the maximum loan term you can get with Wells Fargo Auto Refinance?
Wells Fargo Auto Refinance offers auto refinancing with a maximum term of 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 Wells Fargo Auto Refinance charge an origination fee on auto refinance loans?
Yes, Wells Fargo Auto Refinance charges a loan origination fee .
Does Wells Fargo Auto Refinance charge a late fee?
Yes, auto refinance loans via Wells Fargo Auto Refinance are subject to late payment penalty fees .
Does Wells Fargo Auto Refinance charge prepayment fees?
Yes, Wells Fargo 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 Wells Fargo Auto Refinance?
Applicants with a credit score of at least 650 and up to 850 may be eligible for Wells Fargo Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Wells Fargo Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Proof of income
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan refinance with Wells Fargo Auto Refinance?
Auto refinance loan applications are typically funded within 1 to 7 days of approval.
Does Wells Fargo Bank perform a hard credit pull?
Yes, Wells Fargo Auto Refinance performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is Wells Fargo Bank a legit company?
Wells Fargo Bank was founded in 1852, it is a well-established company that has been in business for 174 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
Wells Fargo Auto Refinance Disclosure: "Customers who qualified for our lowest APRs have an excellent credit history and a loan amount that’s greater than $22,000 and less than 85% of the car’s value. The APR includes a relationship discount of 0.25%."
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 Wells Fargo Auto Refinance
Message from our editor
What we love about Wells Fargo Auto Loans
Wells Fargo offers flexible auto loans, giving you the option to buy a new or used car from a dealer or in a private transaction. This lack of restrictions makes it very easy for you to shop around to find the best deal on a car. Keep in mind that if you make a private transaction, you have to finalize the loan in-branch.
The bank’s loans are also flexible. You can choose a term up to 72 months and may not need to provide any down payment to secure the loan. Wells Fargo banking customers can also enjoy an interest rate discount that will save them money over the life of their loan.
What could Wells Fargo Auto Loans do better?
Wells Fargo has had some controversy in the past, including a situation where many people had accounts opened without their consent. This has given the company a reputation for poor customer service and left some consumers wary about dealing with the company.
The auto loans themselves are relatively good, giving borrowers lots of options to customize their loans, but these past controversies are something that Wells Fargo has to work to overcome.
Wells Fargo Auto Loans’s backstory
Wells Fargo is an American financial services company that operates globally. It is headquartered in Manhattan and is one of the largest banks in the world. It offers many financial services to its customers including banking, investing, wealth management, and lending.
The Verdict
Wells Fargo’s auto loans are easy to apply for and can be used to purchase almost any type of vehicle. If you’re a Wells Fargo customer already, you can get some perks like an interest rate discount but even people who don’t already bank with Wells Fargo could get a good deal from the bank.
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