Car loan guides
- Compare car loans
- Best of 2024
- Personal loans for cars
- Auto refinancing
- Low interest
- Motorcycle loans
- ATV financing
- Monthly payment calculator
We compare the following providers
- Auto Credit Express
- Capital One
- Caribou
- CarsDirect
- Carvana
- Chase
- LendingTree
- LightStream
- USAA
- Wells Fargo
- A-to-Z List of Providers
Buying guides
- How to buy a car
Need car insurance?
- Compare quotes
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Save time and money with an auto loan that comes with competitive rates.
An auto loan with the highly rated U.S. Bank could help you finance that new or used car you’ve been looking at. With a range of auto loan options, including the ability to refinance your existing auto loan, you may find the loan you need without having to search too far.
No reviews yet.Write a review
By
Aliyyah Camp
Updated
Fact checked
$3,000
Min. Loan Amount
$100,000
Max. Loan Amount
Starting at 4.56%
APR
Details
| Min. Loan Amount | $3,000 |
|---|---|
| Max. Loan Amount | $100,000 |
| APR | Starting at 4.56% |
| Interest Rate Type | Fixed |
| Requirements | Be at least 18 years old an legal resident of the US |
- Be at least 18 years old
- Legal resident of the US
What is a U.S. Bank auto loan?
U.S. Bank offers auto loans between $3,000 and $100,000 for new and used cars. The APR you’re quoted can be as low as 4.56%, including a 0.50% autopay discount, and you won’t be required to supply a down payment.
When you’re preapproved for a U.S. Bank auto loan, you’ll know how much you can borrow before you start shopping for your next car. Its online tools can help you calculate your monthly payments based on your purchase price. If you’re looking to lower your monthly payments, U.S. Bank also has refinancing options.
What are the benefits of a U.S. Bank auto loan?
U.S. Bank offers its auto loan customers various benefits including the following:
- Loyalty discounts. Current U.S. Bank customers get 0.50% for signing up with autopay and when financing an EPA-certified SmartWay vehicle.
- Equal rates for new and used. Rates are as low as 4.56% APR for both new and old vehicles.
- No down payment. U.S. Bank requires no money up front when you borrow an auto loan.
- Good financing. U.S. Bank has financing up to 120% to help you cover other expenses, like title and tag registration.
What to watch out for
- Wide ineligibility. You may not be able to get a loan for cars older than six years or with high mileage. Customized cars could also be denied.
- Prepayment fee. While not exactly a penalty, paying your auto loan early could subject you to a closure fee equal to 1% of your original loan amount.
- Online complaints. Some customers complain of unauthorized deductions for things like new fees and early repayment. Discuss any concerns before signing a contract.
Compare more car loan options
1 - 4 of 4
Updated regularly
U.S. Bank reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1 out of 5 stars, based on 293 customer reviews |
| BBB customer complaints | 2,217 customer complaints |
| Trustpilot Score | 1.5 out of 5 stars, based on 87 customer reviews |
| Customer reviews verified as of | 16 October 2020 |
Am I eligible for a U.S. Bank auto loan?
To apply, you must be at least 18 years old and a legal resident of the US. Given the discounts U.S. Bank extends to customers, it helps to open a savings or checking account with the bank before starting the application process.
Many types of vehicles are excluded from a U.S. Bank auto loan, including
- Vehicles with more than 80,000 miles through a dealership.
- Vehicles with more than 100,000 miles when applying directly.
- Salvaged, rebuilt, hail-damaged or branded title vehicles.
What information do I need to apply?
To apply for an auto loan, you’ll need to submit some personal and financial information.
- Your full name and mailing address.
- Your Social Security number and date of birth.
- Government-issued ID for each applicant.
- The year, make, model and estimated value of the car you’re interested in.
- Your requested loan amount.
- Your employer’s name and address.
- Your annual gross income before deductions.
- When refinancing or private purchase, the lienholder’s name and payoff amount.
If you’re approved for an auto loan, you may need to provide proof of car insurance coverage and your income.
I got the U.S. Bank auto loan. Now what?
U.S. Bank will deduct an origination fee depending on your state. It may be a flat fee ranging from $50 to $125 or up to 1% of your loan amount.
Once you get your auto loan, make sure you stay up on your payments. U.S. Bank offers various ways to repay your loan, including online, on the U.S. Bank mobile app, at a branch and by phone.
By signing up for autopay, you can save money on interest and avoid late fees and other penalties.
There is also an early closure fee of 1% of the original loan amount if you choose to repay the full amount of your loan within a year. You’ll have to pay at least $50, but no more than $100.
How to make a U.S. Bank auto loan repayment online
If you don’t already have an account, you need to set one up. You get started on this do this by going to the U.S. Bank website, selecting Personal Account.
Otherwise follow these steps:
- Log in to your online account.
- Enter the repayment amount.
- Pick a payment method. If you’re paying from a bank account, you’ll need the routing accounting number.
- Review your payment information and hit Submit.
- Save your confirmation code for proof of payment.
Bottom line
If you’re in the market for a new or used car, looking to refinance an existing auto loan or want to buy out a vehicle you’re leasing, an auto loan with U.S. Bank could be a good option. While there are some fees involved, U.S. Bank still offers relatively low rates. However, if you’re looking to avoid fees or search for more loan options, you can compare your car loan options before making a decision.
Frequently asked questions
-
You may be able to get preapproved a few hours after applying. Your preapproval will be good for 30 days while you search for a car.
-
A lease buyout loan gives you the money necessary to buy your current leased car. You can get this type of loan either before or at the end of your lease so that you don’t have to return the car, thereby avoiding any penalty fees for wear and tear or exceeding miles.
-
Unlike other banks, U.S. Bank allows you to buy vehicles from both direct and private dealerships.
U.S. Bank auto loans is not currently available on Finder
Have you considered LightStream Auto Loans?
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
- Same-day funding
- Up to 100% financing
- No restrictions to age or mileage
- Secured and unsecured options
- Competitive rates
Learn more
No thanks, compare other auto loan options.
Aliyyah Camp is a SEO content strategist and former publisher at Finder, specializing in consumer and business lending. Her writing and analysis has been featured in CentSai, the Dough Roller and the Chicago Tribune. She holds a BA in communication from the University of Pennsylvania.
Ask an expert
Finder only provides general advice and factual information, so consider your own circ*mstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
2 Comments
david
February 23, 2018
how can I pay off my auto loan?
Reply
joelmarcelo
March 28, 2018
Hi David,
Thanks for leaving a question on finder. Please note that we are a comparison website and we do not represent any of the providers on our page.
If you are looking to pay off your auto loan with US Bank, you can repay online, at a branch, by phone or through U.S. Bank’s mobile app. If you need more help regarding this matter, please send us a message anytime.
Cheers,
Joel
Reply
