Auto Loans Bank of Comerica Reviews 2023
Bank of Comerica is a large regional bank with a presence in 15 states. The bank offers a variety of auto loan products, including new and used car loans, refinancing, and lease buyouts. Auto Loans Bank of Comerica Reviews 2023
Here is a sheet table on the article:
| Feature | Bank of Comerica Auto Loans |
|---|---|
| Interest Rates | Starting rates as low as 3.99% APR for new cars and 4.99% APR for used cars |
| Loan Terms | 36 to 72 months |
| Minimum Loan Amount | $7,500 |
| Maximum Loan Amount | $100,000 |
| Application Fee | $30 |
| Early Payment Fee | $150 if you pay off your loan within 12 months |
| Customer Service | 24/7 customer service line |
| Pros | Competitive interest rates, variety of loan terms, easy application process, 24/7 customer service |
| Cons | $30 application fee, $150 early payment fee, potential for long wait times for customer service |
Interest Rates
Bank of Comerica’s auto loan interest rates are competitive. The bank’s website lists starting rates as low as 3.99% APR for new cars and 4.99% APR for used cars. However, actual rates will vary depending on your credit score, the term of the loan, and the amount of the loan.
Loan Terms
Bank of Comerica offers auto loans with terms of 36 to 72 months. The minimum loan amount is $7,500, and the maximum loan amount is $100,000.
Fees
Bank of Comerica charges a $30 application fee for auto loans. There is also a $150 early payment fee if you pay off your loan within 12 months.
Customer Service
Bank of Comerica’s customer service for auto loans is generally rated as good. The bank has a 24/7 customer service line, and customer service representatives are available to answer questions and help with problems.
Reviews
Bank of Comerica’s auto loans have received mixed reviews online. Some reviewers have praised the bank’s competitive interest rates and easy application process. Others have complained about long wait times for customer service and hidden fees.
Overall
Bank of Comerica’s auto loans are a good option for borrowers with good credit. The bank offers competitive interest rates and a variety of loan terms. However, borrowers should be aware of the early payment fee and the potential for long wait times for customer service.
Here are some pros and cons of Bank of Comerica auto loans:
Pros:
- Competitive interest rates
- Variety of loan terms
- Easy application process
- 24/7 customer service
Cons:
- $30 application fee
- $150 early payment fee
- Potential for long wait times for customer service
If you are considering a Bank of Comerica auto loan, I recommend that you compare rates and fees from other lenders before making a decision. You can use a website like Bankrate or LendingTree to compare quotes from multiple lenders.
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Here are some tips for getting the best auto loan rate:
- Get pre-approved for a loan before you start shopping for a car. This will give you an idea of how much you can afford to borrow and what your interest rate will be.
- Compare rates from multiple lenders. Don’t just go with the first lender you find.
- Have a good credit score. The better your credit score, the lower your interest rate will be.
- Shop around for the best deal. Don’t be afraid to negotiate with lenders.
I hope this article has been helpful. Please let me know if you have any other questions.
FAQs:
Bank of Comerica’s auto loan interest rates start as low as 3.99% APR for new cars and 4.99% APR for used cars. However, actual rates will vary depending on your credit score, the term of the loan, and the amount of the loan.
Bank of Comerica offers auto loans with terms of 36 to 72 months. The minimum loan amount is $7,500, and the maximum loan amount is $100,000.
Bank of Comerica charges a $30 application fee for auto loans. There is also a $150 early payment fee if you pay off your loan within 12 months.
Bank of Comerica’s customer service for auto loans is generally rated as good. The bank has a 24/7 customer service line, and customer service representatives are available to answer questions and help with problems.
You can apply for a Bank of Comerica auto loan online, by phone, or at a Comerica banking center. The application process is quick and easy.
