Fifth Third Bank auto loans: 2025 review

Fifth Third is best for multiple discounts for current customers 

Fifth Third gives its customers more opportunities to save than many other lenders, offering both an autopay discount and a relationship discount.

• Autopay: Receive a 0.25 percent rate discount when you enroll in automatic payments from a Fifth Third checking account 
• Refinance: Receive a 0.25 percent rate discount when you replace your current auto loan with new Fifth Third auto financing.

You could also be eligible for additional discounts depending on your Fifth Third checking account type. That said, there’s very little transparency on the website regarding these benefits or the terms of its auto loans. Beyond basic loan amounts, you won't know if Fifth Third has competitive rates until you apply — and undergo a hard credit check, since there's no prequalification process.

Before you apply, you should also be aware of previous legal action. In July 2024, the Consumer Financial Protection Bureau (CFPB) announced legal action against Fifth Third due to wrongful auto repossessions. Around 35,000 customers were impacted, and Fifth Third settled, paying $20 million in fines.

New and used car loans

Fifth Third offers new and used auto loans to those in its serviced area. You can apply for a loan directly through Fifth Third — at a brach, online or by phone. Current customers may also have access to multiple discounts on their auto loan rate, though Fifth Third isn't upfront about the actual range of rates it offers. 

If you already have a dealership in mind, you are able to ask through the dealership if it participates in Fifth Third's auto financing program. Either way, you will have access to terms between 12 and 75 months. 

Car loan refinancing 

If you’re stuck with a high auto rate, consider exploring auto loan refinancing rates through Fifth Third. A bonus: If you refinance a non-Fifth Third loan, you’ll be eligible for an extra rate discount. 

It’s also worth noting that Fifth Third refinances in-house loans for qualified borrowers. This is rare since most lenders only offer refinancing for loans originated by other lenders. Still, like its new and used auto loans, Fifth Third isn't clear about its potential rates. You'll need to submit an application to get an idea of the terms you might qualify for.

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 48 months — a rare option for an auto loan. 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 rates: Fifth Third doesn't share its rates online, so if you want a ballpark of what kind of rate you will receive, you will need to apply. 
• No qualifying information: There is also very little information on eligibility 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. Customers on the App Store give it a 4.6 out of 5 stars, while customers on Google Play rate Fifth Third slightly higher, with 4.8 out of 5 stars.  You can access your accounts, view transactions, pay bills and find nearby branches. 

How this lender compares

Fifth Third vs. Regions Bank

You can’t borrow less than $5,000 but it advertises rates of just above 6 percent, whereas Fifth Third’s rates are unpublished. Regions is also a better choice for expensive cars, with loan amounts available up to $125,000. That’s $45,000 more than Fifth Third’s maximum loan limit. 

Fifth Third vs. Bank of America

Fifth Third is a better choice if you need term flexibility,long maximum loan term compared to the 60-month cap at Bank of America. If you’re in the market for an older vehicle priced below $7,500, Fifth Third is the clear choice with its $2,000 minimum loan amount. 

That said, Bank of America is a national lender — not just limited to the 11 states Fifth Third has branches in. Bank of America is also clear about the potential rates for your auto loan, which is a big positive when compared against Fifth Third.

Do you 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

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 Bankrate rates this lender

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.

Another shared a complaint about loan payoff:

Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate. Please see the issuer’s website for updated terms and conditions.

Community Fifth Third scores