PNC Auto Loans Review | Find the best loan for you
PNC Bank offers financing for new and used cars. Applying online allows you to secure financing for purchases from eligible US retailers. Car loans for personal purchases are also available but must be applied for in person at a branch. If you have an existing car loan for a vehicle, you can also refinance your loan with PNC. The bank also conducts lease buyouts.
With PNC, you can apply for auto finance online, over the phone, or in person at a branch. The Check Ready program allows you to secure financing online before purchasing from an authorized retailer. You can negotiate the final price with the merchant and then write the amount on your check up to the approved amount. If you apply online, you will have a decision within a few minutes. The offer remains valid for 30 days.
If you are planning to purchase a used vehicle from a private party, visit a PNC branch. If you provide the required documents and are approved for the loan, you may be able to leave with a check in hand.
Apply for refinance online, over the phone, or in person at a branch. Once approved, you can close at a PNC branch or have the documents sent to your home. Once you return your signed documents, a check will be mailed to the creditor to repay the loan.
PNC offers terms from 12 to 72 months, your interest rate depends on the term and model year of the vehicle. The lowest rates are reserved for applicants with excellent credit ratings and there is no prepayment penalty.
To finance a vehicle, it must be a 2014 model year or newer and have less than 80,000 miles — although some credit ratings may qualify a vehicle for up to 100,000 miles. Some vehicles are not eligible for a PNC car loan, such as: B. commercial vehicles. Other Eligible Vehicle restrictions may apply.
Using the Check Ready service requires borrowers to finance an automobile purchased from an authorized dealer, which includes all US franchised dealerships.
Borrowers receive a 0.25 interest rebate for setting up and maintaining automated payments from a PNC checking account.
Although PNC Bank offices are not located in every state, it offers lending products nationwide. It does not specify minimum creditworthiness requirements and takes into account other factors in addition to creditworthiness, such as: B. Income.
For check-ready loans, the minimum loan amount is $7,500 and the maximum is $50,000. You can borrow more than $50,000, but you won’t get a blank check to buy a vehicle. Instead, you will be issued a check for a certain amount.
PNC Financial Services Group is rated A+ by the Better Business Bureau. PNC Bank has a poor rating of 1.3 stars out of 5 on Trustpilot, based on more than 400 reviews. In 2021, the Consumer Financial Protection Bureau received 87 complaints about PNC Bank related to vehicle loans. Most were related to loan administration or issues at the end of the loan, and all received a response in a timely manner.
You can reach PNC Customer Service by calling 888-PNC-BANK or 888-762-2265. Representatives are available Monday through Friday from 7:00 a.m. to 10:00 p.m. Eastern Time and weekends from 8:00 a.m. to 5:00 p.m. ET. You can also contact the bank on Twitter via @PNCBank_Help.
- People who want to buy a car with secured financing in advance.
- People who want to conveniently apply for a car loan online.