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Fifth Third Bank
Fifth Third 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 specializes in assisting readers to navigate the ways and pitfalls of borrowing money to purchase the car they want.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are committed to helping readers gain confidence to control their finances through providing concise, well-studied facts that break down complicated subjects into digestible pieces.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial decisions by providing you with interactive tools and financial calculators as well as publishing objective and original content. This allows you to conduct your own research and compare data for free to help you make sound financial decisions. Bankrate has partnerships with issuers, including but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The products that appear on this site are from companies that pay us. This compensation may impact how and where products are displayed on this site, including the order in which they may be listed within the categories of listing and other categories, unless prohibited by law for our mortgage, home equity and other home loan products. However, this compensation will have no impact on the information we publish, or the reviews that appear on this website. We do not include the entire universe of businesses or financial offerings that could be accessible to you.




Reviewer's disclosures Reviewers are supervised by our staff. Opinions expressed therein are solely the opinions of the reviewer and have not been reviewed or acknowledged by any advertising company. The information, including rates and fees, presented in the review is correct up to the date of the review. Look over the information at the top of this page as well as the lender's site for the most recent information.








A glimpse 3.6 Rating: 3.6 stars out of 5
Score of the Bankrate

Availability Rating: 4 stars out five
Affordability Rating: 4 .
The Customer Service Rating is 4.4 5 stars from 5
The Transparency Score: 2.5 stars out of 5


Check auto loan rates


Around Fifth Third Bank Loan amount $2,000 to $80,000
Min. credit score 660
APR from 6.41%-10.05 10.0
Funds available in Same day as the day of closing.



Fifth Third Bank pros and cons before submitting a Fifth Third Bank auto loan application, consider whether the advantages of an in-person transaction outweighs its drawbacks.
PROS Autopay discount
Range of repayment options
In-person convenience

CONS Limited state availability
APR at a minimum of high
No prequalification





Fifth Third Bank, a regional bank with its headquarters in Cincinnati it offers financing for new and pre-owned vehicles as well as car refinance loans to its customers who have savings and checking accounts. This, together with its partnered dealers, makes it an excellent option for drivers who prefer having the comfort of face-to-face communication. Financing is only available in the states Fifth Third serves: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina and Tennessee. Indirect credit, on the contrary hand, is accessible across all states, with the exception of Alaska, Hawaii, Louisiana and Wyoming.
Do you qualify? Financing is only available in the states that Fifth Third serves: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina and Tennessee. Indirect lending, on the contrary, is available in all states , excluding Alaska, Hawaii, Louisiana and Wyoming. Fifth Third Bank does not specify specific requirements, other than residing in one of the states served and having a valid credit card directly-financed loan. What we like and what we don't like Fifth Third Bank offers the accessibility of personal support, however it is only available to drivers who reside in certain states.
What we love about the Autopay discount. Customers who borrow can enjoy an 0.25 per cent discount when they are linked to the fifth Third check account. Range of options for repayment. Loans can be financed for anywhere from 12 to 75 months. In-person convenience. Fifth Third Bank operates at more than 1,100 branches in 10 states. We don't like the limited availability in states. Drivers only in 10 of 50 states are able to apply for a Fifth Third auto loan. Minimum APR of 6.41. A minimum APR of 6.41% percent for purchase by dealers and refinance to the external is more than other lenders. No prequalification. It's impossible to determine how much you'll pay until you complete your application. How to contact Fifth Third Bank Customer support is available Monday through Friday, from 8 a.m. to 6 p.m. ET and on Saturdays between 10 a.m. until 4 p.m. ET. Help in person at branch locations will assist you with the process of applying. You can also contact customer service 24 hours a day via live chat after you have become a member.
Auto loan types available Fifth Third Bank offers new and used automobile loans either directly or through dealerships, as well as loan refinancing.
Used and new auto loans
Loan quick facts Amounts: $2,000-$80,000 Terms: 12-75 months APR: 6.41%-10.05%


Although Fifth Third Bank does not provide much information on its website concerning its used and new auto loans information, the information provided by bank representatives outlines the details. The loans can be financed up to $80,000, and you are able to choose a term that ranges from 12 months to 75 month. Refinance
Loan quick facts Amounts: $2,000-$80,000 Terms: 12-75 months APR: 6.41%-10.05%


Refinancing your current loan with Fifth Third Bank can be an excellent option to reduce your monthly payments and to alter the rate. The APR for the minimum for a loan is 6.41 percent. Receive an .25 percent discount when refinancing an unrelated Fifth Third auto loan or enrolling to have your payments automatically deducted from the fifth Third bank account. Indirect financing
The loan amount is $5,000-$100,000. The terms vary by dealer APR: 48-84 month.


Fifth Third Bank also offers through its network of new vehicle franchise dealers. These are available in all states , except Alaska, Hawaii, Louisiana and Wyoming. How to get a loan with Fifth Third Bank To apply for a Fifth Third Bank auto loan You can visit a banking branch in your local area or contact 866-671-5353. Unfortunately, you are not able to apply online. But you can manage your loan by using your online account once you have been approved. Before you visit a bank office, make use of an opportunity to know how much you are able to afford. While there is no charge for application, you will need for an initial cost of $165, if you are willing to accept the loan terms. Following approval, take advantage of the automated payment option to ensure you never fail to make a payment as there are also late fees.
Required application information Valid form of identification varies based on the findings of the underwriter during the review process


Fifth Third Bank FAQs
What interest rate should you anticipate when you take out your auto loan from Fifth Third Bank? Fifth Third Bank does not reveal auto loan rates online or via phone. You must apply for a loan in writing to receive a loan estimate that includes borrowing costs.



Do you require a good credit score to be able to get the auto loan from Fifth Third Bank? You may qualify even if you don't have perfect credit, as Fifth Third Bank requires a minimum credit score of at least 660. Keep in mind that the bank will only consider qualified borrowers, therefore it's helpful to have a better credit score.



Are you able to get preapproved via the web in order to apply for an auto loan through Fifth Third Bank? Unfortunately, no. It is necessary to make an appointment with a banker or call 1-866-671-5353 to formally apply for the loan.



How Bankrate rate Fifth Third Bank
Overall score
3.6
Accessibility
4.0
Limited state availability is offset by a variety of loan terms , as well as ample limits on loan amounts.
Affordability
3.4
An APR that is high as well as unidentified features leave Fifth Third with a middling score.
Customer experience
4.4
Fifth Third offers automatic payment as well as online access to customer service 24 hours every day of the week.
Transparency
2.5
Fifth Third does not allow the loan prequalification, and rates and fees aren't disclosed on the internet.


Methodology Bankrate considers 18 data points when deciding on the top auto loans. Criteria for acceptance, whether fees and rates are offered and the range of APR all affect lender scores. The scores are divided into four categories. The availability of loans as well as repayment options, dealer requirements and state availability all play a role in this section. Affordability: This section contains APR ranges and acceptance criteria, as well as fees and discounts. Customer experience: The length of time you have to spend shopping, customer service availability, and whether there's autopay and an app are all covered in this section. Transparency: This category is responsible for the availability of rates and fees as well as whether prequalification is available.
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 reviewed nor acknowledged by any advertiser. The information such as rates and charges provided in the review is accurate as of the date of the review. Look over the information at the top of this page and the lender's site for the most up-to-date 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 details of borrowing money to purchase 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 feel confident to manage their finances by providing precise, well-studied information that breaks down complicated topics into bite-sized pieces.






Auto loans editor










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