PNC offers a wide range of auto loan options for those who are looking to purchase a car. Their loans range from small, private-party transactions to larger, dealer-financed purchases. In addition to financing new and used vehicles, PNC also offers refinancing options for existing loan holders.
The good news is that, overall, PNC auto loan rates are competitive. If you’re in the market for a new or used vehicle, it’s important to shop around before making any financial commitments. You’ll want to compare the rate you can qualify for, as well as any other terms that apply to your situation.
In order to qualify for the best possible PNC auto loan rates, you’ll want to have a solid credit history, and you may want to consider getting a co-signer to boost your chances of approval. This is especially true if you don’t qualify for a traditional loan.
Aside from the loan amount, other factors that can affect your loan approval are your credit history, the type of vehicle you are buying, and the timing of your purchase. To help you out, PNC’s website has a calculator that estimates how much you can borrow. However, it’s worth noting that this calculator is for illustrative purposes.
The calculator doesn’t tell you the rate you can expect to pay, so you’ll have to look elsewhere for that. But the average PNC Bank loan has a starting APR of 3.09%. Unlike many other lenders, it doesn’t come with an origination fee. That means you can save a significant amount of money over the life of the loan.
On top of these discounts, PNC also gives you the option of a 0.25% APR discount for making automatic payments. While this isn’t the biggest deal, it can help you save a couple hundred dollars in interest over the life of the loan.
As with all loans, it pays to shop around. Your lender may be able to offer you a lower rate than your bank’s online calculator, so make sure to get a second opinion. Additionally, you’ll want to read the fine print carefully.
Depending on the lender you choose, you may be required to visit a branch to complete your application. For private-party loans, you’ll need to show proof of income and you’ll need to have your credit score in order.
You’ll also need to be ready to fill out an online application. Once you fill out the online form, you’ll receive a confirmation email within one business day. When you are ready to talk to an auto loan specialist, call the PNC customer service number. Alternatively, you can contact them by mail, phone, or secure messaging center.
PNC Bank is a reputable company that strives to provide the best possible solutions to their clients. They have a solid A+ rating from the Better Business Bureau. Despite the company’s recent scandal, it remains an excellent choice for a bank to do business with.
It’s a good idea to check out the PNC Total Auto program. The program is a convenient way to get a pre-approval for an auto loan before you head to a dealership. Using the program, you can calculate the average price of a car in your area, and you can see what other people paid for cars similar to yours.