U.S. Bank auto loans: 2025 review

Best for shopping online

U.S. Bank partners with dealerships across the country to provide financing. This makes it easy for drivers to shop for their vehicle while checking out financing options directly on the bank’s site. You can easily see vehicles available for sale based on your ZIP code and calculate your expected car payment.

New and used auto loans

U.S. Bank offers loans for amounts of $5,000 and up. However, you'll need to shop through a participating dealership, which U.S. Bank has in the 48 contiguous states. A starting rate of 7.18 percent is below the national average surveyed by Bankrate. Borrowers financing a new car for 60 months had an average rate of 7.64 percent as of September 25.

Refinance 

In order to qualify for the best refinancing rate, U.S. Bank has a fairly strict credit score requirement — a score of 800. Consider how this would affect your potential rate and only sign off on a refi loan through U.S. Bank if you are confident in your credit history.

If you do not live in one of the 25 states U.S Bank offers refi or do not meet requirements, consider exploring our best auto loan refinancing rates to find a better fit. 

Lease buyout loans

U.S. Bank offers loans for drivers who have fallen in love with their leased vehicles and intend to purchase them. There is a little information online regarding requirements, but you will need vehicle information and your lease agreement to apply.

Where U.S. Bank stands out 

• Online shopping: For borrowers who want to explore available vehicles online before going to the dealership, U.S. Bank is a good fit. The financial institution has partnered with dealerships and has for sale vehicles directly on its site. 
• Discounts: Like many other bank-backed lenders, U.S. Bank offers special discounts for those who hold accounts. Specifically, it offers a 0.20 percent rate discount to those who enroll in a U.S. Bank Smart Rewards checking account.  
• Preapproval: You can get preapproved for a U.S. Bank auto loan while still shopping for a vehicle. Once you decide on a car, you can finalize your loan at a U.S. Bank branch.

Where U.S. Bank falls short

• Early closure fee: In addition to standard loan fees, U.S. Bank charges an early closure fee if you close your account within one year. This fee equals 1 percent of your original loan amount, with a minimum of $50 and a maximum of $100. 
• High minimum loan amount: U.S. Bank has a relatively high minimum loan amount for new and used vehicles at $5,000. If you are hoping to finance an inexpensive used vehicle, U.S. Bank may not be the best option. 
• Strict eligibility for the lowest rates: U.S. Bank's lowest rates go to drivers with a credit score of at least 800 who are financing 80 percent or less of the car's value. These borrowers are likely eligible for better rates elsewhere. 

U.S. Bank customer resources

Customer support

U.S. Bank encourages customers to make an appointment at a local branch with any questions, but you can also call 800-872-2657. If you have questions about your application, you can reach specialists at 800-479-4749 Monday through Friday from 7 a.m. to 10 p.m. CT or Saturday from 9 a.m. to 5 p.m. CT. You can also use the U.S. Bank website or app to check the status of your application or manage your loan.  

Digital experience 

If you already have a U.S. Bank account, you'll find your auto loans use a familiar interface. The site is fairly basic, with options to apply, calculate expected costs or find a dealership nearby. It also boasts a library of educational information that can assist borrowers in learning the ins and outs of the loan process.

Finally, the site links to the bank's phone app, through which borrowers can seamlessly manage their loans.

How this lender compares

Do you qualify for a U.S. Bank auto loan?

U.S. Bank does not specify its eligibility requirements for credit score or minimum income, but drivers must be legal residents of the United States and at least 18 years old to apply.

In order to qualify for the best rates, you must meet the following requirements:

• Request a term of 60 months or less.
• Credit score of 800 or higher.
• Vehicle is less than 1 year old.
• Loan amount of $40,000 or more.
• Loan-to-value (LTV) percentage of 111% to 115.99%.
• Set up autopay from a U.S. Bank personal checking or savings account.

For U.S. Bank refinancing, these are the requirements for the best rates:

• Loan term of 60 months or less.
• Loan amount of $30,000 or more.
• Credit score of 800 or higher.
• Vehicle is less than 2 years old.
• Set up autopay from a U.S. Bank personal checking or savings account.

How Bankrate rates U.S. Bank

The Bankrate team assessed more than 35 auto lenders to find the best. Bankrate considered 18 criteria, such as acceptance criteria, loan amounts and APR range. These scores are broken into four categories.