2024 PNC Auto Loan Review
PNC Bank auto loans at a glance
 | New auto loans | Used auto loans | Refinance auto loans |
| Starting APR | 6.69%* | 6.79%* | 6.74%* |
| Loan terms | 12 to 84 months | 12 to 72 months | 12 to 84 months |
| Loan amounts | $7,500-$75,000 | $7,500-$75,000 | $5,000-$100,000 |
| See Auto Loan Rates | See Auto Loan Rates | See Refinance Rates |
*Rates include a 0.25% autopay discount
PNC Bank is the sixth-largest commercial bank in the U.S. by assets, with around 2,500 retail branches in 28 states and the District of Columbia. PNC Bank auto loans are available for new and used vehicles, private party sales, lease buyouts and auto refinancing.
PNC also offers Check-Ready loans, where your loan funds can have prior approval, allowing you to complete the deal before you visit a dealership. It’s different from a traditional loan, where you apply for a loan after you visit a dealer and select a car.
- Multiple loan types: PNC Bank offers loans for new and used vehicles, lease buyouts, auto refinancing and private-party sales.
- Flexible terms: A wide range of terms and amounts are available based on the loan type and amount, from 12 to 84 months and up to $75,000 for new and used cars.
- Easy application: PNC Bank’s online application process is simple and can be completed in minutes — plus, you can also apply at a PNC branch or by phone. Note, however, that you may have to visit a branch to finalize the application for some types of loans, including refinance and private-party loans.
- Fast response: PNC can often deliver a lending decision within minutes. If you apply for a Check-Ready loan, the check will be sent overnight to your address.
- Best for borrowers with good credit: Although PNC Bank doesn’t disclose credit score requirements, its best rates are reserved for well-qualified applicants.
PNC pros and cons
With any auto loan, it’s smart to shop for loan rates with banks, credit unions and online lenders to compare with the dealer’s financing offers. To help you decide, here’s a look at the benefits and drawbacks of a PNC Bank car loan.
| Pros | Cons |
|---|---|
Flexible loan terms and a variety of loan types Online closing for some loans PNC Total Auto program Finance cars from the 2015 model year and newer | High minimum loan amounts Undisclosed eligibility requirements Branch visits are required for some loans |
PNC Bank offers online applications, and while some loans can be closed online, you’ll need to visit a branch to close certain loan types, including private party or auto refinance. If you don’t live near a PNC branch, consider a Check-Ready auto loan — this results in a paper check being delivered to your home, allowing you to shop like a cash buyer. Once you finalize the sale, you’ll fill out the check for the final amount, up to the amount you were approved to borrow.
To receive a 0.25% APR discount, you’ll have to open a PNC checking account and sign up for automated payments.
Like most lenders, PNC Bank does place limitations on the cars it’ll finance. New and used car loans are limited to national franchise dealerships and CarMax, and PNC will only finance cars that are from 2015 or newer with up to 100,000 miles. And while this lender doesn’t disclose its minimum credit score requirement, you will need a strong credit profile to qualify for PNC’s lowest rates.
A closer look at PNC auto loans
PNC Bank was founded in 1852 as the Pittsburgh Trust and Safety Company. This lender now operates in 30 of the country’s largest markets across 28 states and the District of Columbia.
The PNC Total Auto program, powered by TrueCar, allows car buyers to search for vehicles in their area, compare prices and see what others have paid for similar vehicles. The Total Auto program makes car buying a one-stop experience — you can find your car, potentially secure dealer discounts and apply for a loan all in one place.
PNC Bank loans come with a 0.25% interest rate autopay discount. However, if you don’t already have a checking account with PNC, you’ll have to open one to qualify for that discount.
In addition to loans for new and used autos, PNC Bank also offers auto loan refinancing, private-party loans and lease buyout options.
How to get a loan with PNC
The PNC loan application process is fairly standard. After submitting an online auto loan application, you may get a response within one business day. Loan approvals are valid for up to 30 days, and the same goes for a Check Ready check. You can also apply by phone or at a branch.
Before you start the loan application, be sure to have the following documents and information available (if you’re applying jointly with another person, you’ll need the same information for your co-applicant):
- Name
- Date of birth
- Address (including recent addresses if you’ve lived at your current residence for less than two years)
- Employment information
- Income information
- Driver’s license or other government-issued form of ID
- Vehicle information for a traditional car loan or lease buyout
- Car and lender information and payoff amount (for refinance loans)
- Amount you’d like to borrow
How PNC auto loans compare
A PNC Bank auto loan offers competitive rates for good-credit borrowers, but you may be able to find a lower rate or longer loan term with another lender.
| PNC Bank | Navy Federal Credit Union | Bank of America | |
|---|---|---|---|
| Starting APR | 6.69% | 4.54% | 5.89% |
| Loan terms | 12 to 84 months | 36 to 96 months | Up to 72 months |
| Loan amounts | $7,500 to $75,000 | Not disclosed | $7,500 minimum |
| Min. credit score | Not disclosed | Not disclosed | Not disclosed |
Is a PNC loan right for you?
A PNC loan may be a good fit if you have a good credit score and think you can qualify for this lender’s best rates. However, you’ll have to go through the entire application process to see the exact rates and terms you will receive, and that could impact your credit score. An auto loan from PNC may not be the best choice if you’re buying an older car or need to refinance your car loan but don’t live near a PNC branch.
As with any auto loan, it’s good to shop around to see what terms and rates may be available before deciding on a lender. Use an auto loan calculator to estimate your payment for the car you want.
Frequently asked questions
PNC Bank doesn’t disclose the credit score requirements for an auto loan, though the best APRs typically go to borrowers with a very good credit rating (starting at a 740 FICO Score).
Yes, you can pay off a PNC car loan early without a prepayment penalty.
On its website, PNC Bank says it’ll provide a loan decision within minutes of an application during regular business hours. If you’re applying with a co-borrower or have a particularly complex application, it may take longer to receive a lending decision.