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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 specializes in assisting readers with the details of using loans to buy the car they want.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers gain confidence to control their finances through providing clear, well-researched information that reduces 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 decisions by providing you with interactive financial calculators and tools as well as publishing quality and impartial content, by enabling you to conduct your own research and compare information for free to help you make financial decisions with confidence. Bankrate has agreements with issuers, including but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that appear on this site are from companies that pay us. This compensation could affect how and where products appear on this site, including, for example, the order in which they be listed within the categories of listing in the event that they are not permitted by law. Our loans, mortgages, and other home loan products. This compensation, however, does have no impact on the content we publish or the reviews you see on this site. We do not cover the vast array of companies or financial offerings that could be accessible to you.




Reviewer's disclosures The reviews are written by our staff. The opinions expressed are only the opinions of the reviewer and have not been reviewed or accepted by any advertising company. The information such as rates and charges that are included in the review are accurate as of the date when the review first appeared. Check the data in the upper right hand corner of the page as well as the lender's website to find the most up-to-date details.








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

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


Find out about rates for 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 Unspecified



M&T Bank pros and cons M&T Bank auto loans boast extended support and a low amount for a minimum loan amount, but it is essential to take into consideration all aspects before applying.
PROS Low minimum loan amount
Discounts available to M&T Bank customers
24/7 support

CONS Limited availability
No prequalification
Vehicle information needed for application





Do you qualify? The Buffalo-based bank does not make public the requirements for credit score or minimum income, but for you to be eligible, you must at least 18 years old or older and be a resident of the state of New York. To qualify for the best rates, you must: have an loan duration of 63 months or less Finance a vehicle that is model year or later Have an M&T bank account Arrange for automatic payment

What we like and what we don't like Consider the whole of what M&T Bank has to offer prior to submitting the loan application. We like the low minimal loan amount. The ability to finance a car for as little as $2,000 which is competitive when compared with similar lenders. Discounts for customers of banks. Current customers who have an M&T bank account will benefit from the lowest rates. 24/7 support. M&T provides support via telephone at any time of the day and even at night. We don't like the limited availability. M&T Bank only serves drivers within the states of Connecticut, Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia and West Virginia along with Washington, D.C. There is no prequalification. In contrast to some of its nonbanking lender competitors, M&T is not able to offer customers the possibility of prequalifying. Information about your vehicle is required to apply. Before you apply for the auto loan you must know what car you wish to purchase -- a rare requirement. How to contact M&T Bank M&T Bank has 24/7 support for its borrowers over the 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 locations across the country. To keep up with the application process or manage your loan just log into your account on M&T Bank's website. M&T Bank site.
Auto loan kinds available M&T Bank offers financing for used and new vehicles as well as refinancing auto loans.

New and used car loans Beginning at $2,000 Terms: Up to 84 months APR 6.34%-15.99 percent M&T Bank offers new and used automobile loans starting at a less than the usual minimum of $2,000. However, the minimum APR is high, so be careful when you aren't in the above criteria. In addition for you to be eligible, you must have your vehicle information.



Refinance Amounts: Beginning at $2,000 and extending to 84 months APR 6.34%-15.99 Percentage If you have a credit rating that has improved significantly following the approval of your loan or you received your terms from a dealership, refinancing with M&T could help lower your monthly installment. The bank features a fast approval procedure that is particularly advantageous for those who are who are in financial straits.



How do you apply for an loan through M&T Bank According to the M&T Bank site, the procedure for applying should take just a few minutes. It is possible via the internet or at one of its office branches. After submitting your request, you'll have up to 30 days to complete your purchase.


Information required for application Social Security number Income and employment information Assets and liabilities Email address Year, Make model, mileage, and VIN number



M&T Bank FAQs
How do you pay off the M&T Bank auto loan? There are many alternatives to pay off your loan through M&T: online, by phone, in person or via mail. M&T also offers recurring payments which ensure that you do not skip a month.




Should you refinance through a bank? Refinancing with a bank is a good idea if you have a previous association with this institution, as you may receive higher rates. Otherwise, it is best to shop around at different kinds of lenders to locate the most suitable loan.




What is the rate at which Bankrate charges M&T Bank Overall score
3.8
Accessibility
4.0
Although loans are available only in 13 states, M&T has no dealer requirement and offers a wide range of payment options.
Affordability
3.6
The low APR increases an overall score that is lower due to the unspecified fees as well as the high minimum APR.
Customer experience
5.0
M&T scores perfectly for its extended shopping window and 24/7 customer support.
Transparency
2.5
With no option for loan prequalification, and with only a few rates are disclosed, M&T receives a low score.


Methodology To determine the best auto loan lender, Bankrate considers 18 factors. They consider the requirements for credit, loan amount, APR ranges, window for shopping together with fee and rate availability. In all, Bankrate reviewed 33 lenders and gave each an Bankrate rating. This consists of 4 categories.
Availability. Loan amounts, types and the repayment options are all considered in this section. A broad range of financing options results in a higher score. Affordability. The rates of interest as well as acceptance criteria and current fees are analyzed here. Customer experience. This category concerns online access as well as app availability and the hours of support for customers. The lenders that offer 24/7 support earn the top scores. Transparency. This is the requirement to disclose potential fees and the ability to apply for loan prequalification.
Editorial disclosure The reviews are written by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer , and are not reviewed or approved by any advertising company. The information, including rates and fees provided in the review is correct as of the date of the review. Review the data at the top of this page and the lender's site for the most recent information.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers with the details of taking out loans to buy 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 late 2021. They are passionate about helping readers gain the confidence to manage their finances with precise, well-researched and comprehensive information that breaks down otherwise complex topics into manageable bites.






Auto loans editor










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