PNC Bank summary
- Rates clearly displayed online
- 0.25% rate discount on automated repayments
- Loans available for private party deals
- Credit score requirements not disclosed
- $7 fee for payments over the phone
- High minimum loan amount
Has learning resources, access to rates, mobile app
Customer services and support
Multiple ways of reaching lender, wide range of hours
Offers all loan types
Offers flexible repayment plans & the option for special repayment programs
Eligibility (credit score)
Doesn't cover bad credit
PNC may be especially suitable for borrowers who wish to arrange a sale through a private buyer as some competitors don’t offer this facility. Likewise, it could also be a good choice for those who prefer to manage their finances on the go as you can make payments and set up alerts via the bank’s app.
You can use PNC auto loans to purchase new and used vehicles through dealers and private sellers, or to refinance existing leases. As well as traditional loans, the company offers check-ready loans if you have yet to find a vehicle. These essentially give you the ability to shop as a cash buyer. Main loan characteristics include the following:
- A 0.25% discount on your rate if you set up automated payments through a PNC checking account
- Check ready loans available on 2014-2023 models only
- Vehicles must be purchased through eligible dealers
- Used vehicles must be under 8 years old
- Used vehicles must have fewer than 100,000 miles
The company also offers a Total Auto service that allows you to both find and finance your vehicle through PNC. Powered by TrueCar, this feature enables you to see what others have paid for similar cars and to check dealer offers.
You can apply for a loan online, over the phone, or in a PNC branch. The first step is typically to review PNC’s loan rates and obtain an accurate value of your vehicle through JD Power.
During the application, you’ll need to provide information such as the below:
- The dollar amount you’d like to borrow
- One form of photo ID (driver’s license, state-issued ID, or US passport)
- Previous address (if you’ve been at your current address less than 2 years)
- Previous employer details (if you’ve been with your current employer less than 2 years)
- Your income details
- The vehicle’s VIN (if refinancing)
If you have a co-applicant, this person will also need to provide these details.
Once you’ve applied, you’ll typically receive your decision within minutes. When you close at a PNC branch, you’ll receive your check on the same day. If you’ve applied over the phone or online, your documents will be sent overnight to your home.
Remember that you are responsible for transferring the vehicle’s title and placing PNC’s lien on the title if you’re buying out the lease on an existing loan.
Loan Types and Terms
PNC Loans offers 4 loan types: buying from a dealer, buying from a private party, buying out a lease, or refinancing an auto loan.
The interest rate you pay will depend on the type of loan you take out and start at 2.14% APR.
The following criteria also apply:
- Check-ready loan amounts: $7,500-$50,000
- Traditional auto loan amounts: $5,000-$100,000
The following loan terms are available:
- 12 to 48 months
- 49 to 60 months
- 61 to 72 months
You can make payments through mail, money order, online banking, in app, or via PNC’s automated payment program. You can also make payments over the phone, but there is a $7 fee for doing so.
If you’re having difficulty making your repayments, you should contact PNC to discuss the possibility of setting up an assistance plan.
How Safe Is It?
PNC has several safeguards to protect your data and your money. These include:
- Security questions when you enroll in online banking
- 2-step verification
- Optional account activity alerts
- A system for customers and partners to report vulnerabilities in the PNC network
Help & Support
You can contact PNC by phone, in branch, or through social media. Phone support hours are Monday to Friday, 7am-10pm (ET) and Saturday and Sunday, 8am-5pm. You can contact the company on Twitter Monday to Sunday, 6am-12am.
T: 1-888-PNC-BANK (762-2265)
How PNC Compares
Minimum credit score
Buying from a private buyer
Comparing several options before making a decision
Purchasing a used vehicle
If you’re looking for a flexible auto loan, PNC has a great deal in its favor. As well as offering the freedom to buy from a dealer or private individual, it can help you find a vehicle that suits your needs and offers check-ready loans if you’re still shopping around. Although PNC does come with a relatively high minimum borrowing amount, this may not be an issue for many borrowers who are keen to benefit from other features such as its 0.25% rate discount and competitive APRs.
249 Fifth Ave, Pittsburgh, PA 15222, United States