PNC Bank is part of PNC Financial Services, a publicly traded company that is based out of Pittsburgh, PA. The company has over 2,500 branches across nineteen states and is currently one of the five largest banks in the country based on deposits and amount of banking locations. PNC is best known for its focus on consumer lending, which includes mortgages, personal loans, and auto loans.
The auto loans provided by PNC Bank tend to be very competitive in rate and fee structure compared to other similar loans provided by top banks. PNB currently is running a promotion for qualified buyers in which they can get an auto loan in some cases where the interest rate is less than 2.15%. To qualify for the top rate, a borrower will need to take out a loan with a minimum amount of $15,000, but a car built within the past three model years, and accept a term of 60 months or less.
Those that do not have perfect credit histories or are looking to buy a used car with different loan terms can still qualify for a low interest rate. Interest rates of under 5% are typically available to most buyers, as long as their credit scores are considered satisfactory. These low rates can be used to buy cars of almost any age and for any price.
One of the primary advantages of taking out an auto loan from PNC Bank is that they are very convenient to receive. PNC Bank will allow you to take out an auto loan through the online application, which takes less than ten minutes to finish. Applicants can then receive a notification of approval within 15 minutes after applying. Applicants that would like to speak to an expert could choose to apply in person at anyone of the company’s branches.
Consumers generally have a positive review of the auto loan pricing and application process. Most consumers agree that the convenience of the online application is very helpful, particularly in situations when they need to be able to make an auto purchase decision quickly. Consumers have also given a positive review of the cost and fee structure, which is favorable compared to other major auto lenders. PNC also has the reputation for providing more flexibility when it comes to finding a loan product that is right for the consumer’s personal financial situation.