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Mt Bank
M&T Bank: 2023 Auto Loan Review Released 2023-01-01 at 00:00:00
Authored by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ins and outs of securely using loans to buy an automobile.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers gain confidence to manage their finances with concise, well-studied and well-researched content that breaks down otherwise complex topics into manageable bites.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by offering interactive tools and financial calculators, publishing original and objective content. This allows you to conduct your own research and compare data for free - so that you can make financial decisions with confidence. Bankrate has agreements with issuers such as, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this website are provided by companies that compensate us. This compensation could affect how and when products are featured on this website, for example for instance, the order in which they appear within the listing categories in the event that they are not permitted by law. Our loan products, such as mortgages and home equity, and other home lending products. But this compensation does not influence the information we provide, or the reviews that you see on this site. We do not include the vast array of companies or financial deals that could be accessible to you.




About our reviews Editorial disclosure: All reviews are prepared by staff. The opinions expressed are only the opinions of the reviewer and have not been reviewed or acknowledged by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Review the data at the top of this page and the lender's website for the most up-to-date details.








A look 3.8 rating: 3.8 stars out of five
Score of the Bankrate

Available Rating 4 5 stars out of 4
Affordability Rating: 3.6 stars out of five
Customer Experience Rating: 5 stars out 5
The Transparency Score: 2.5 stars out of 5


Check auto loan rates


About Capital One Loan amount starting at $2,000
Min. credit score not specified
APR as low as 6.34%
Funds available in Not specified



M&T Bank pros and cons M&T Bank auto loans boast extensive support and a lower minimal loan amount, but it is important to consider all aspects before applying.
PROS Low Minimum loan amount
Discounts available to M&T Bank customers
24/7 support

CONS Limited availability
No prequalification
The information about your vehicle is needed to apply





Do you qualify? The bank based in Buffalo does not provide requirements for credit scores or minimum income, but to apply you must be at least 18 years old or older and legally resident. To be eligible to receive the best rates, you must have an loan period of 63 month or less Finance a vehicle that is model year or greater M&T bank account Arrange for automatic payments

What we like and what we do not like Think about the full range of the features M&T Bank has to offer prior to submitting an loan application. What we like is the low the minimum loan amount. The ability to finance a car for as little as $2,000, which is competitive in comparison to other lenders. Discounts are available for customers who bank. Current customers who have the M&T bank account will benefit from the lowest interest rates. 24/7 support. M&T offers support via phone throughout the day and even at night. We don't like the limited availability. M&T Bank only serves drivers in the following states: Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia and West Virginia along with Washington, D.C. No prequalification. Contrary to other non-banking lender rivals, M&T is not able to offer applicants the chance to prequalify. Information about your vehicle is required to apply. Before applying to get the auto loan you need to know the car you wish to purchase -- an uncommon requirement. How do you contact M&T Bank M&T Bank has 24/7 support for its borrowers by telephone at 800-724-2440. If you prefer support in person it is possible to schedule an appointment at one of its more than 1,600 branches across the nation. To track your application or manage your loan just log into your account on the M&T Bank site.
Auto loan kinds available M&T Bank offers financing for used and new cars as well as refinancing auto loans.

New and used car loans Amounts: Starting at $2,000 and extending to 84 months APR 6.34%-15.99% M&T Bank offers new and used auto loans beginning at a lower than usual minimum amount of $2,000. The minimum APR however is high, so be cautious if you do not fall within the criteria mentioned. In addition the applicant must already have the vehicle information.



Refinance Amounts: Starting at $2,000 Terms: Up to 84 month APR: 6.34%-15.99% If your credit score has significantly improved after you signed off on the loan or you got your terms from a dealership Refinancing through M&T could help reduce your monthly payments. The bank offers a speedy approval procedure that is particularly advantageous for those who are who are in financial straits.



How do you apply for a loan with M&T Bank According to the M&T Bank site, the application process will take only just a few minutes. It is possible via the internet or at any of the branches in its office. After submitting your request, you'll have until 30 days to finish the purchase.


The information required to apply for a job Social Security number Income and employment information Assets and liabilities Address for email: Year, make model, model, miles and VIN number



M&T Bank FAQs
How can you pay off an M&T Bank auto loan? There are a few alternatives to pay off your loan using M&T such as online, over telephone, in person or by mail. M&T also offers recurring payments which ensure that you do not miss one month.




Do you think it is wise to refinance with a bank? Refinancing through a bank is recommended if you have a previous association with this institution, as you may receive better rates. In other cases, it's better to compare different types of lenders to find the best new loan.




How does Bankrate rate M&T Bank Overall score
3.8
Availability
4.0
While loans are available only in 13 states, M&T has no dealer requirement and offers a wide selection of payment options.
Affordability
3.6
The low APR increases a lower score based on the unspecified fees as well as the high minimum APR.
Customer experience
5.0
M&T is a top choice for its extended shopping window and 24/7 customer service.
Transparency
2.5
In the absence of the option for loan prequalification and only some rates made public, M&T receives a low score.


Methodology In order to determine the most suitable auto loan lenders, Bankrate considers 18 factors. These include credit requirements, loan amount, APR ranges, shopping window along with rate and fee availability. In total, Bankrate reviewed 33 lenders and awarded each one an Bankrate rating. This consists of four categories:
Availability. The types, amounts and repayment options are considered in this category. A variety of financing options leads to an improved score. Affordability. The rates of interest as well as acceptance criteria and current fees are calculated here. Customer experience. This category concerns online access in addition to app availability as well as the hours of customer support. Lenders with 24/7 support carry the top marks. Transparency. This covers the disclosure of possible fees, as well as the option to request loan prequalification.
Editorial disclosure Reviewers are supervised by Bankrate.com staff. The opinions expressed in the review are only those of the reviewer and have not been evaluated or accepted by any advertising company. The information that is included, including rates and fees provided in the review are accurate as of the date of the review. Review the data at the top of this page and the lender's website to find the most current information.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers to navigate the ins and outs of securely using loans to buy an automobile.
The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are dedicated to helping readers gain confidence to control their finances by providing precise, well-researched and comprehensive information that breaks down otherwise complex topics into manageable bites.






Auto loans editor










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