Fifth Third Bank auto loans: 2024 review

Best for multiple discounts for bank customers

Fifth Third gives its car loan customers more opportunities to save than many other auto lenders. In addition to the standard autopayment discount, you could be eligible for additional discounts depending on your Fifth Third checking account type. You could even get an extra discount if you replace your current auto loan with new Fifth Third auto financing.  

Where Fifth Third Bank stands out

• Variety of discounts available: Becoming a Fifth Third banking customer could help you snag an impressive array of discounts if you set up automatic payments, have a preferred checking account or refinance an auto loan from another company. 
• Multiple repayment terms: Choose between paying off your loan in as little as 12 months or spreading it out over six years. Just remember, longer periods cost you more in interest over time. 
• Wide range of loan amounts: Fifth Third’s low $2,000 minimum may be handy if you’re buying a used clunker to drive short distances. Alternatively, the $80,000 maximum may be a better fit for a new, more expensive car purchase.

Where Fifth Bank falls short

• Undisclosed APRs: Unlike some lenders that share potential rates directly online, Fifth Third does not. If you want a ballpark of what kind of rate you will receive, you will need to apply. 
• No qualifying information: The bank also shares very little information on requirements. Fifth Third doesn’t disclose minimum credit score, income or details of what types of vehicles you can finance.
• No prequalification: You can schedule an appointment to talk to someone about a new loan, but prequalification isn’t an option. This can make it more difficult to gauge your expected rates and terms. 

Fifth Third customer resources

Customer support

You can phone a Fifth Third representative Monday through Friday from 8 a.m. to 6 p.m. ET and Saturday from 10 a.m. to 4 p.m. ET. The customer service center is closed on Sundays. 

Digital experience

Fifth Third offers a mobile app with 24/7 online access. The App Store gives it a 4.7 out of 5 with more than 449,000 ratings online. Users can access all of their accounts, view transactions, pay bills and find out if there is a nearby branch in the 11 states the lender does business in. 

Do you qualify for a Fifth Third auto loan?

You’ll need to live in Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee or West Virginia to qualify for a Fifth Third auto loan. 

Although Fifth Third doesn’t specify its requirements for an auto loan, in general, you need good credit, regular income from a stable job and a new vehicle with reasonable mileage. To get the best auto loan rates, you’ll need higher credit scores and a lower debt-to-income ratio. 

Vehicles not eligible for vehicle financing

You won’t be eligible for a Fifth Third auto loan unless you live in a state where they do business. Fifth Third doesn’t publish any limitations online regarding the age, mileage or type of vehicle that can be financed. If you get preapproved for car financing, make sure you ask the loan officer if they know about vehicle restrictions that might affect your ability to get approved. 

How to get a Fifth Third auto loan

You’ll need to schedule an appointment by phone, in a virtual meeting or in a local branch office.  There is no online prequalification option. Fifth Third offers 60-minute and 30-minute application meeting choices. 

1. Step 1: Schedule an appointment by phone, virtually or at a local branch. 
2. Step 2: Fifth Third doesn’t list what you need for approval, but generally you’ll need proof of your income (paystub or W-2s), your social security number and the last 2 years of address history. 
3. Step 3: Have details about the car you plan to buy ready to provide to the loan officer. If you’re getting your loan through a dealership, the sales rep will handle this.  
4. Step 4: If it looks like you qualify based on your income, Fifth Third will run your credit report to confirm your rate and terms. Review the rates and pick a loan term that best fits your budget. 

How Bankrate rates Fifth Third Bank

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.