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

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers in navigating the ins and outs of securely borrowing money to purchase the car they want.







The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping readers gain the confidence to take control of their finances with clear, well-researched information that breaks down otherwise complicated topics into bite-sized pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by offering interactive tools and financial calculators that provide objective and original content, by enabling you to conduct your own research and compare information for free to help you make sound financial decisions. Bankrate has agreements with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this site are from companies that compensate us. This compensation can affect the way and where products appear on this site, including the order in which they be displayed within the listing categories, except where prohibited by law. Our loan products, such as mortgages and home equity, and other products for home loans. But this compensation does not influence the information we publish, or the reviews appear on this website. We do not contain the universe of companies or financial offers that may be open to you.




About our reviews . Editorial disclosure Reviewers are supervised by our staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed nor accepted by any advertiser. The information that is included, including rates and fees provided in the review is correct at the time that the review was written. Look over the information in the upper right hand corner of the page and the lender's website for the most recent information.








At a glance 3.8 Score: 3.8 stars out of 5
Score of the Bankrate

Rating of Availability 4 five stars out of five
Affordability Rating: 3.6 stars out of 5
Customer Experience Rating 5 stars out 5
Transparency Rating: 2.5 stars out of 5


Check rates for auto loan rates


About Capital One Loan amount Starting at $2,000
Min. credit score Unspecified
APR starting at 6.34%
Funds available in Unspecified



M&T Bank pros and cons M&T Bank auto loans boast extended support and a low minimal loan amount, however it is essential to take into consideration all aspects before applying.
PROS Low minimum loan amount
Discounts for 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 Buffalo-based bank doesn't provide requirements for credit scores or minimum income, but to apply you must be 18 years of age or older and a legal resident. In order to qualify for the most favorable rates, you need to: have an loan duration of 63 months or less. You must also finance a vehicle that is a 2018 model year or newer Have an M&T bank account Arrange for automatic payments

What we like and what we do not like Take a look at the entire of the features M&T Bank has to offer before submitting the loan application. We like the low minimum loan amount. Drivers can finance a vehicle starting at $2,000 which is competitive in comparison to other lenders. Discounts for customers of banks. 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 at all hours of the day and even at night. We are not happy with 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 nonbanking lender competitors, M&T is not able to offer customers the possibility of prequalifying. Information about your vehicle is required to apply. Before applying for an automobile loan you need to know the vehicle you would like to finance -- a rare requirement. Contact information for M&T Bank M&T Bank has 24/7 support for its borrowers over the telephone at 800-724-2440. If you prefer the convenience of in-person assistance you can make an appointment at one of the more than 1,600 locations throughout the United States. To keep up with the status of your application or to manage your loan just log into your account through M&T Bank's website. M&T Bank site.
Auto loan types offered M&T Bank offers financing for used and new vehicles and refinance auto loans.

Used and new vehicle loans Start at $2,000 and extending to 84 months APR 6.34%-15.99 1 % M&T Bank offers new and used auto loans beginning at a lower than the usual minimum of $2,000. But the minimum APR is high, so be careful when you aren't within the criteria mentioned. On top of this the applicant must have your vehicle information.



Refinance Amounts: Beginning at $2,000 Terms: Up to 84 month APR: 6.34%-15.99 Percentage If the credit scores of your clients have improved significantly after you signed off on your loan or you obtained the terms of your loan from a dealer, refinancing with M&T will help you lower your monthly installment. The bank offers a speedy approval process which is especially beneficial for drivers in a financial pinch.



How do you apply for an loan with M&T Bank According to the M&T Bank site, the procedure for applying should take less than a minute and is possible online or at one of its branches. Following the request, you'll have up to 30 days to make the purchase.


Required application information Social Security number Income and employment information. Assets and liabilities. Email address Year, make model, mileage, and VIN number



M&T Bank FAQs
What is the best way to pay off an M&T Bank auto loan? There are many alternatives to pay off your loan using M&T such as online, over telephone, in person or by mail. M&T also provides recurring payments which ensure that you do not be late for a month.




Do you think it is wise to refinance a loan through the bank? Refinancing through a bank can be a good idea when you have an existing connection with that institution since you can get lower rates. Otherwise, it is best to look around at various kinds of lenders to locate the most appropriate loan.




What is the rate at which Bankrate charges M&T Bank Overall score
3.8
Accessibility
4.0
Although loans are only available within 13 states M&T has no dealer obligation and provides a broad range of repayment options.
Affordability
3.6
The low APR increases a lower score based on unknown fees and a high minimum APR.
Customer experience
5.0
M&T has a perfect score for its extended window for shopping and its 24/7 customer support.
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 to identify the top auto loan lenders, Bankrate considers 18 factors. This includes credit requirements, loan amount, APR ranges, window for shopping as well as rate and fee availability. In total, Bankrate reviewed 33 lenders and assigned each one an Bankrate rating. This consists of 4 categories.
Availability. Loan amounts, types and repayment options are considered in this section. A variety of options for financing results in an increase in. Affordability. The interest rates, acceptance criteria and present fees are measured here. Customer experience. This category concerns online access in addition to app availability as well as the hours of customer support. The lenders that offer 24/7 support earn the highest available scores. Transparency. This covers the disclosure of possible fees as well as the possibility to apply for loan prequalification.
Disclaimer The reviews are written by Bankrate.com staff. The opinions expressed in the review are only the opinions of the reviewer and have not been evaluated or acknowledged by any advertising company. The information, including rates and fees provided in the review are accurate up to the date when the review first appeared. Review the data in the upper right hand corner of the page, and the lender's website for the most up-to-date information.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ins and outs of securely borrowing money to purchase an automobile.
Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are dedicated to helping readers gain the confidence to take control of their finances with concise, well-researched, and well-informed information that breaks down otherwise complex topics into manageable bites.






Auto loans editor










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