Our Verdict
Find out what Fifth Third auto loans have to offer, their benefits, and their potential disadvantages! As one of the leading financial institutions in the United States, Fifth Third Bank provides a range of auto loan solutions to help you achieve your dream of owning a vehicle.
With its headquarters in Cincinnati, Fifth Third Bank gives auto loans for new and used vehicles including auto refinance if you’re a member of the bank and have a checking and savings account. It’s also a great option for you if you value indirect loans through partnered dealers.
This review allows you to explore key aspects such as interest rates, loan terms, application process, and customer services. You also get valuable insights to help you make an informed decision when considering Fifth Third for your auto financing needs.
Before you make any decision, compare other available loan options to see what aligns the most with your needs and budget.
You can reach Fifth Third car loan through the following means:
Phone numbers
- For questions about your existing loan, call: 1-800-972-3030
- Already started the application process, call: 1-886-671-5353
Mailing Address
Fifth Third Bank, N.A.
PO Box 630778
Cincinnati, OH 45263
Or, you can simply fill out the contact form on the website to reach out to one of the customer representatives.
Pros
- Offers co-borrowing option.
- Comes with flexible loan terms.
- Provides autopay discount.
- Provides the opportunity for in-person convenience through its wide network of branches.
- Has a range of repayment options.
Cons
- Offers no preapproval options.
- Comes with a $165 origination fee.
- Does not disclose APRs upfront.
Who Fifth Third Auto Loan Is Best For
Choose Fifth Third auto loan for your vehicle financing needs if you:
- Love In-person Application: Apply for an auto loan with this lending institution if you value in-person application and are not so comfortable with online process. The bank has over 1000 branches across 11 states.
- Are an Existing Fifth Third Customer: If you want to enjoy added benefits such as relationship discounts or simplified processes, you should consider becoming a member of the bank.
- Don’t Need Competitive Rates: If you don’t prioritize competitive interest rates, especially when you have a strong credit profile, Fifth Third auto loan might just be the right option for you. The lender has a high minimum APR which is not so ideal.
- Have Good Credit: Fifth Third auto loan places importance on the state of your financial health. If you have good to excellent credit scores, you may qualify for lower interest rates and favorable terms.
- Don’t Prioritize Online Application: Fifth Third Bank doesn’t offer online application for its auto loan services, making it impossible to apply and manage your car loans from the comfort of your home.
>>>MORE: KeyBank Auto Loan Review
Who Fifth Third Auto Loan Isn’t Right For
Fifth Third auto loan may not be ideal for your vehicle financing needs if you:
- Live Outside the U.S.: Fifth Third auto loan primarily offers loans to people within the United States of America. With over 1000 branch locations across 11 states, you can tell that its service coverage is somewhat limited. If you reside in an area where Fifth Third Bank has limited or no presence, accessing its service might be challenging.
- Have Poor Credit History: In case you have a less-than-ideal credit history, you might not qualify for the most favorable interest rates at Fifth Third. You can explore other lenders specializing in giving out loans to people with bad credit.
- Seek to Know Your APR Upfront: Bear in mind that Fifth Third does not disclose expected APRs before application which makes the process seem risky for hesitant borrowers. You don’t have the privilege to obtain an estimate of your interest rate before submitting a complete application. Unfortunately, this implies that you must undergo a credit inquiry, potentially impacting your credit score, just so you can explore available interest rates.
What Fifth Third Auto Loan Offers

At Fifth Third auto loan, you get a variety of rewards and benefits, comprising:
Car Loan Refinancing Benefits
When refinancing your car loan, Fifth Third Bank allows you to lower your interest rate, reduce your payment, and get a little extra cash monthly. Alternatively, you can pay a similar vehicle loan amount and pay off your loan earlier than scheduled. Each time you refinance a non-Fifth Third auto loan, you receive a 0.25% rate discount.
Wide Range of Car Options
Fifth Third Bank provides you with various car options—new or used cars with amounts up to $80,000 and terms from 48-84 months. Have you spotted the car you want to finance at a dealership? You can simply verify if the dealership already participates in Fifth Third’s lending program. If not, you can apply for a car loan directly from Fifth Third Bank.
Relationship Benefits
If you own a checking account at Fifth Third, you get a 0.25% rate discount when your payment is deducted from your account, using auto payments. Also, you can qualify for additional discounts depending on your checking relationship with the bank.
Auto Loan Calculator
Fifth Third Bank provides an auto loan calculator that enables you to input your car purchase price, loan term, down payment, and interest rate so you can have an estimate of how much you are paying monthly.
Fifth Third Auto Loan Details
Fees and Terms
Origination Fees: While Fifth Third Bank does not charge an application fee for its auto loan services, be prepared, however, to pay a $165 origination fee.
Loan Types: You have access to different loan types from new to used auto loans through the bank, or directly from a dealership. Also, Fifth Third provides car refinancing services. The loan amount is up to $80,000 with terms ranging from 48-84 months
APR: The lowest APR starts from 8.34%.
Loan Amounts: Funds are available from $2,000 – $80,000.
Minimum Credit Score: Fifth Third does not disclose its minimum credit score requirement for obtaining a loan.
Loan Terms: Loan term spreads across 12 to 84 months.
Relationship Benefits: If you own a checking account at Fifth Third, you get a 0.25% rate discount when your payment is deducted from your account, using auto payments. Also, you can qualify for additional discounts depending on your checking relationship.
Where Fifth Third Auto Loan Stands Out
Check out some of the ways Fifth Third auto loan differs from other lenders:
Autopay Discount
Enjoy a 0.25% discount on interest rates if you’re a refinance customer who signs up for autopay.
External Refinance Discount
If you’re refinancing a loan from a different lender other than Fifth Third, you may qualify for a 0.25% rate discount.
Relationship Benefits
Your checking relationship may qualify you for additional discounts. Fifth Third offers 0.25 percent rate discounts on checking accounts when payments are automatically deducted.
Co-borrowing Option
Fifth Third’s co-signer allows you to share a loan with another person which impacts your credit score and provides potential for higher loan amounts.
>>>PRO TIPS: How to Get an Auto Loan From a Bank
Where Fifth Third Auto Loan Falls Short
Check out some of the ways Fifth Third auto loan falls short:
No Preapproval Available
Fifth Third doesn’t allow you the opportunity to get preapproved for a car loan, unlike most auto lenders.
High Minimum APR
With an unfavorable minimum APR starting from 8.34%, accessing loans at Fifth Third becomes less attractive. Chances are, you may pass over to another lender who has a favorable minimum APR.
No Online Application
Fifth Third doesn’t offer online applications for car loans. Auto loan applications are done in person. You have to visit any of Fifth Third’s physical branches or apply over the phone.
$165 Origination Fee
If you’re not comfortable with paying extra fees, you may find the origination fee repulsive, especially if you have other lenders who do not charge the same fee on their loans.
Auto Loan Calculator
Fifth Third Bank provides a loan calculator where you enter your car purchase price, down payment, loan term, and interest rate to evaluate your monthly payment.
How to Qualify for Fifth Third Auto Loan

To qualify for a Fifth Third auto loan, you have to meet the following criteria:
- Have a minimum FICO score of 670 just in case.
- Have a proven source of income.
- Be a U.S. citizen or permanent dweller.
- Provide information about yourself, such as legal name, Social Security Number, contact information, and so on.
- Have your driver’s license handy.
- Make available your proof of insurance.
- Provide information about the vehicle you plan to purchase, such as make, model, and mileage.
While it is important to meet all requirements, you should bear in mind that approval is not certain. The lender also considers your personal credit history along with other factors when deciding your application.
How to Apply for Fifth Third Auto Loan
You can apply for a Fifth Third auto loan either by visiting a banking branch in your locale or by phone. Remember, there’s no provision for you to apply online. However, following your approval, you have access to an online account where you can manage your loan.
Here are the steps involved in applying for a Fifth Third car loan in person:
- Visit a Fifth Third banking branch (preferably, in your area, for convenience).
- Speak with a customer representative.
- Inform customer support about your need for a car loan.
- Provide answers to questions the banker may require from you during the inquisition stage.
- Provide copies of all the necessary documentation (if required).
- Forward your application to the banker who in turn forwards your submission for review and possibly, approval.
Here are the steps involved in applying for a Fifth Third car loan by phone:
- Call Fifth Third Bank at 866-671-5353.
- Speak with customer support about your need for a car loan.
- Give answers to questions the helpline may require from you, including your financial health, income source, and other relevant details.
- Get all necessary documentation handy.
- Wait for the representative to submit your application and inform you if you’re approved.
>>>GET SMARTER: Wells Fargo vs. Bank of America Auto Loan
Alternatives to Fifth Third Auto Loan
Huntington Bank
If you’re seeking an alternative route to obtaining a car loan, Huntington Bank might be your catch as it comes with flexible terms, competitive rates, and a preapproval option.
Huntington has quite a limited branch locations comprising Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia, Wisconsin, Minnesota, South Dakota, and Colorado residents.
The lender provides “auto loans that fit your budget with flexible payment terms up to 72 months and loan amounts up to $100,00.” With Huntington auto loan, you can:
- Purchase new or used cars from a dealer or individual seller.
- Get preapproval when buying.
- Buy out a lease.
- Obtain a lower monthly payment by refinancing your existing loan or reducing your borrowing costs altogether.
To get help on issues about loan application, preapproval, or general enquiry, you can call: (800) 628-7076.
First National Bank
Whenever you’re evaluating your options for purchasing a car, be sure to include First National Bank as one of your top choices.
Whether you’re in the market for a new or used vehicle, FNB can help you with your auto loan. You can set up automatic payments from an FNB Deposit Account to receive a rate discount on repayment terms.
You get to enjoy discounted rates with automatic payments and also borrow from $7,500 – $100,000.
For assistance with the auto loan application, preapproval, or enquiry, call: 1-800-555-5455.
Wells Fargo
Think of Wells Fargo as your next “run to” when it comes to getting an auto loan. This lender allows you to manage your auto loan from almost anywhere within the United States, using online banking to make payments, access monthly statements, and view loan activity.
You can get a wide range of loan options with amazing interest rates, along with dedicated customer support. You also have 24/7 access to your account for online payment, getting online statements, viewing loan activity, and more.
Note that Wells Fargo does not directly offer loans, except through dealerships. So, you might want to consider this before getting married to their loan terms, to avoid divorce.
For further inquiry, do call: 1-800-289-8004.
Customer Reviews
When it comes to sentiments, Fifth Third Auto Loan holds quite a handful of feedback from different customer review platforms. For instance, CreditKarma holds a 1.6-star rating out of every 5 reviews from 34 reviewers; this is a not-so-good customer review.
Further looking at the 1200+ reviews coming from ConsumerAffairs, you can see that Fifth Third Auto loan review is performing poorly. The lender has a 1.9-star rating out of every 5 reviews. Not so much of an encouragement for a first-timer.
With a total of 140 reviews, TrustPilot holds a 1.3-star rating out of every 5 reviews. That’s quite bad.
Judging from all the reviews so far, you can tell that most customers aren’t happy with the lender’s offerings. Most complaints from the three review platforms hinge on bad customer experience, poor and online account management.
Nevertheless, it’s a good idea to do your findings, shop around, and get quotes from several lenders before making your decision. This way, you snag the best available rate and get the most appropriate loan terms for your car needs.
Pro Tips
- Understand how much you can afford using an auto loan calculator before visiting or calling the lender for an application.
- Leverage the automatic payment option so you don’t miss a payment, being that there are late fees.
- Prepare to pay an origination fee of $165 if you’re comfortable with the loan terms.
- Bear in mind, before refinancing, that the loan payoff statement is not your outstanding balance. The loan payoff statement gives you a summary of the following key indicators:
- The due date until the validity of your payoff.
- The daily interest on your loan accumulates.
- Your account number for the payoff.
- The place to address the payoff check.
- Obtain a copy of your credit report and check your score, if necessary, improve your credit score as it plays a crucial role in determining the interest rate you’ll get.
- Consider getting a preapproval for a loan to understand the loan amount you may be eligible for, and smoothen your car buying process.
- Ask questions about any aspect of the loan agreement you’re not sure of.
- Prepare the required documentation before initiating the application process so you don’t experience hitches along the way.
Recap
Exploring and choosing the best-suitable offer for your auto loan needs is paramount. Fifth Third car loan offers a not-so-good minimum APR, and flexible loan terms with online platform features tools like loan calculators, empowering you to estimate monthly payments.
You can also get other features such as co-borrowing, and in-person customer assistance.
If you’re on the fence thinking about choosing between Fifth Third Auto loan and any alternative, chances are, you may easily pass over for another lender considering Fifth Third’s lack of transparency, preapproval, and high starting APR.
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