Nationwide Bank offers auto loans as part of its banking services. You can get loans for new and used cars as well as refinance an existing loan. Chase and RoadLoans also offer loan refinancing. Nationwide also offers insurance in addition to its banking services.
You can apply for a loan through Nationwide’s website, and you should receive approval within the next business day. The process can be done completely online, and you can even sign your documents online.
If you don’t have a car chosen before you apply, you can use the TrueCar service on Nationwide’s site to search for one. It allows you to search for cars from over 12,000 partnered dealerships.
A loan through Nationwide can be used at franchised and independent dealerships as well as to buy cars from private sellers. Nationwide offers a car search tool through its website to help you find cars in your area to buy. This company has the highest mileage restriction of the services we looked at; you can buy a car with up to 150,000 miles on its odometer.
One advantage of opting for an auto loan through a bank is that they tend to offer lower rates, especially when compared with dealerships. Keep in mind that your rate depends on many factors, including the loan term, your credit score, the type of car you plan to buy and the mileage on that car. There’s an auto loan calculator on Nationwide’s website that can help you estimate the amount of your monthly payments.
Nationwide has a minimum loan amount of $5,000, which places it on the lower end of the services we reviewed. This means you can get a smaller loan, so if you have money saved up for a down payment or have a cheap car in mind, this service may be a good choice. You can set up automatic payments through the company website, and you can typically get a discount if you go this route.
Nationwide Bank offers auto loans in addition to insurance and banking services. Its rates compare favorably when compared to the national average. You can apply online and get pre-approved the same day.