PNC Auto Loan Review | Find the best loan for you
PNC Bank offers financing for new and used vehicles. By applying online, you can get financing for purchases at eligible US dealers. Auto loans for private purchases are also available, but you must apply in person at a branch. If you have an existing auto loan for a vehicle, you can also refinance your loan with PNC. The bank also makes purchases of leases.
PNC allows you to apply for auto financing online, over the phone, or in person at a branch. Their “Check Ready” program allows you to secure financing online before you buy from an eligible dealer. You can negotiate the final price with the dealer and then write the amount on your check, up to the approved amount. If you apply online, you’ll have a decision in a few minutes. The offer remains valid for 30 days.
If you plan to buy a used vehicle from a private party, visit a PNC branch. If you provide the necessary documents and are approved for the loan, you may be able to walk away with a check in hand.
To refinance, apply online, by phone, or in person at a branch. Once approved, you can close at a PNC branch or have the documents sent to your home. Then, once you return the signed documents, a check will be sent to the creditor to pay off the loan.
PNC offers financing terms from 12 to 72 months, and your interest rate depends on the length of the term and the model year of the vehicle. The lowest rates are reserved for applicants with excellent credit and there is no prepayment penalty.
To finance a vehicle, it must be a 2014 model year or newer and have fewer than 80,000 miles, although some credit scores may qualify for a vehicle with up to 100,000 miles. Some vehicles are not eligible for a PNC auto loan, such as commercial vehicles. Other restrictions may apply to eligible vehicles.
If using the Check Ready service, borrowers must finance a car purchased from an eligible dealer, which includes all US franchise dealers.
Borrowers receive a 0.25 interest rate reduction for setting up and maintaining automatic payments from a PNC checking account.
Although PNC Bank branches are not located in every state, it offers loan products nationwide. It does not disclose a minimum credit score requirement and considers factors other than credit score, such as 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 specific amount.
PNC Financial Services Group has an A+ rating with the Better Business Bureau. PNC Bank has a poor rating of 1.3 stars out of 5 on Trustpilot based on over 400 reviews. In 2021, the Consumer Financial Protection Bureau received 87 complaints about PNC Bank related to vehicle loans. Most involved loan servicing or end-of-loan issues, and each received a timely response.
You can contact PNC customer service by calling 888-PNC-BANK or 888-762-2265. Representatives are available from 7 am to 10 pm ET Monday through Friday and 8 am to 5 pm ET on weekends. You can also contact the bank on Twitter using @PNCBank_Help.
- People who want to buy a car with financing secured in advance.
- People who want the convenience of applying for an auto loan online.