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Wells Fargo offers auto loans in addition to its many other banking services. You can apply online and get preapproved the same day. Getting a car loan through a bank offers you the opportunity to get a lower rate than you would from a dealership.

Wells Fargo offers loans for new and used cars, as well as refinancing and loans for private purchases. Private purchase loans have much higher interest rates than a loan for a new car, but many lenders don’t offer them. Loan terms range from 12 months up to 72 months, though we recommend avoiding loans that last longer than 60 months so you don’t owe more than your vehicle is worth.

Interest rates on a Wells Fargo auto loan depend on current credit transactions and your credit history. If you have a Wells Fargo checking account and make automatic payments on your loan from it, you may be eligible for a discount on your loan.

Wells Fargo lists sample rates on its website, but the fine print notes that only 5 percent of applicants qualify for those rates, so we recommend using its auto loan calculator to see the range of interest rates you might be eligible for. The calculator also gives you an idea of what you can expect your monthly payments to be.

To apply for a loan, you’ll need to provide your Social Security number, current and previous addresses, information about your monthly mortgage or rent payments, employment and income information, and the details of your current vehicle. You should hear back the same day, sometimes in as little as 15 minutes. Same-day funding is available in some instances.

You can also refinance an existing loan through Wells Fargo. The application process is similar to a standard auto loan, though the age and mileage of your vehicle will affect the decision. If your credit score has improved since your initial application, refinancing your loan could result in a lower rate.

Wells Fargo offers auto loans as one of its banking services. Members may be eligible for discounts on their rates. Loans are available for new and used vehicles, as well as private purchases and refinancing.

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