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Fifth Third Bank
Fifth Third Bank: 2023 Auto Loan Review Published 2023-01-01 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 ways and pitfalls of borrowing money to purchase a car.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers gain the confidence to take control of their finances with concise, well-studied data that breaks 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 financial calculators and tools that provide objective and unique content, by enabling you to conduct research and compare information for free - so that you can make informed financial decisions. Bankrate has agreements with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The offers that appear on this site come from companies who pay us. This compensation could affect how and when products are featured on the site, such as the order in which they may appear in the listing categories and other categories, unless prohibited by law. Our mortgage, home equity and other products for home loans. But this compensation does not influence the information we provide, or the reviews that you read on this site. We do not cover the vast array of companies or financial offers that may be open to you.




About our reviews Editorial disclosure Reviewers are supervised by our staff. The opinions expressed are solely those of the reviewer and have not been reviewed nor approved by any advertising company. The information, including rates and fees, presented in the review is accurate as of the date when the review first appeared. Look over the information on the right as well as the lender's website to find the most recent details.








A look 3.6 rating: 3.6 stars out of 5
Score of the Bankrate

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


Check rates for auto loan rates


About Fifth Third Bank Loan amount $2,000-$80,000
Min. credit score 660
APR ranging from 6.41%-10.05 percent
The funds are available on the same day, as close



Fifth Third Bank pros and pros and Fifth Third Bank auto loan application, think about whether the advantages of an in-person transaction is greater than the drawbacks.
PROS Autopay discount
Variety of repayment options
In-person convenience

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





Fifth Third Bank, a regional bank that is headquartered in Cincinnati it offers financing for new and used vehicles and automobile refinancing loans to members who have checking or savings accounts. This, along with its through partnered dealers, make it a fantastic option for drivers who prefer the convenience of in-person communication. 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 credit, on the other hand, is available in all states , excluding Alaska, Hawaii, Louisiana and Wyoming.
Do you qualify? Finance is available only in the states where Fifth Third serves: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina and Tennessee. Indirect lending, on other hand, is available across all states, with the exception of Alaska, Hawaii, Louisiana and Wyoming. Fifth Third Bank does not outline specific requirements outside of having a residence in at least one state served and having a valid credit card if you're seeking direct financing. What we like and don't like Fifth Third Bank offers the accessibility of personal support, however it is only available to drivers in some states.
What we love about the Autopay discount. Customers who borrow can enjoy a 0.25 per cent discount when they are linked to an account with a Fifth Third checking account. Range of options for repayment. Loans can be financed for anything 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 by state. Drivers only in 10 of 50 states are able to apply for an Fifth Third auto loan. Minimum APR of 6.41. A minimum APR of 6.41 percent for purchase by dealers and external refinance is higher than other lenders. There is no prequalification. It's impossible to get an idea of how much you'll pay until you fill out a complete application. Contact details Fifth Third Bank Customer support is available Monday through Friday from 8 a.m. to 6 p.m. ET and Saturday between 10 a.m. until 4 p.m. ET. Help in person at branch locations can assist you in the application process. You can also contact customer service at any time via the internet chat once you are an account holder.
Auto loan types offered Fifth Third Bank offers new and used automobile loans both directly and 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 divulge much on its website about the new and used auto loans, information gathered from a bank representative outlines the specifics. Loans can be financed for up to $80,000 and you are able to choose the 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 existing loan through Fifth Third Bank can be an excellent option to reduce your monthly payments and to alter the rate. The minimum APR for a loan is 6.41 percent. Get the benefit of a .25 percent discount when refinancing a non-Fifth Third auto loan or signing up to have the payments automatically taken from the Fifth Third bank account. Indirect financing
Loan quick facts Amounts: $5,000-$100,000 Terms: Varies by dealer APR: 48-84 month.


Fifth Third Bank also offers through its network of new vehicle franchise dealers. The franchises are available across all states , except Alaska, Hawaii, Louisiana and Wyoming. How do you get a loan with Fifth Third Bank To apply for a Fifth Third Bank auto loan it is possible to go to a branch of the bank in your local area or call 866-671-5353. Unfortunately, you are not able to apply online. However, you can manage your loan by using your online account once you have been approved. Before you visit a bank office, take advantage of an to understand the amount you are able to afford. While there is no charge for application, you will need to pay an origination cost of $165 if you accept the loan terms. After approval, make use of the automated payment option to make sure that you never miss a payment, as there are also late fees.
The required information for applicants Valid form of identification is determined by the results of the underwriter's review process


Third Third Bank FAQs
What rate of interest should you expect with an auto loan from Fifth Third Bank? Fifth Third Bank does not disclose auto loan rates on the internet or over the telephone. You must formally apply for an loan estimate that includes borrowing costs.



Do you require good credit to be eligible for an automobile loan through Fifth Third Bank? You could be eligible even in the absence of perfect credit, because Fifth Third Bank requires a minimum credit score of 666. Keep in mind that the bank will only consider qualified borrowers, therefore it is beneficial to have a better credit score.



Can you apply online to get an auto loan with Fifth Third Bank? Unfortunately, no. It is necessary to make an appointment to talk with a banker or call 1-866-671-5353 in order to apply for an loan.



Which Bankrate Rates Fifth Third Bank
Overall score
3.6
Accessibility
4.0
State availability is limited, but it is compensated by numerous loan terms and generous minimal and maximal loan amounts.
Affordability
3.4
The high APR and unknown features leaves Fifth Third with a middling score.
Customer experience
4.4
Fifth Third allows automatic payments 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 are not disclosed online.


Methodology Bankrate considers 18 data points when deciding on the top auto loans. Criteria for acceptance, whether rates and fees are available and the range of APR all affect lender scores. The scores are divided into four categories. Accessibility: Loan amounts and repayment options, dealership requirements, and state availability all contribute to this section. Affordability: This section houses APR ranges and acceptance criteria, as well as fees and discounts. Customer experience: How long you'll need to shop, the customer service accessibility, whether you have autopay and an app are all covered by this segment. Transparency: This section accounts for the availability of fees and rates along with whether prequalification is available.
Editorial disclosure Reviewers are supervised by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and are not reviewed or acknowledged by any advertising company. The information, including rates and fees provided in the review is correct at the time of the review. Look over the information on the right and the lender's website for 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 with the details of borrowing money to purchase an automobile.
Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers gain the confidence to control their finances by providing precise, well-studied information that breaks down complicated topics into bite-sized pieces.






Auto loans editor










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