M&T Bank

M&T Bank is headquartered in Buffalo, New York, and has branches across eight states as well as Washington D.C. Auto loans are available to anyone resident in the states M&T operates in.

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    How do M&T auto loans work?

    M&T is quite clear on its loan terms. You’ll pay anywhere between 3.94% and 12.84% interest, and repayment terms are up to 84 months. Once approved for a loan, you’ll have 30 days to make your choice and purchase a car.

    Credit score

    M&T doesn’t disclose its credit requirements, however, judging by the low interest rates on offer, we’d expect only those with good or excellent credit will be able to apply.

    How Much Can You Borrow?

    You’ll have to borrow a minimum of $2,000. The maximum you can go up to is $50,000.

    What types of vehicles are eligible for financing?

    You’ll be able to get financing on all new and used cars as well as trucks.

    How do I qualify?

    You must be a resident in one of the states in which M&T operates. These are:

    • New York
    • New Jersey
    • Pennsylvania
    • Maryland
    • Delaware
    • Virginia
    • West Virginia
    • Connecticut
    • Washington D.C.

    You must also currently be employed or self-employed.

    What documents do I need?

    You’ll need to prove citizenship status, evidence of income or employment status, your social security number, and a form of photographic ID Like a passport or driver’s license.

    What are the fees?

    You may be charged missed payment or late fees. These will be specified in full before you take out the loan.

    Make sure you understand all of the terms and conditions before signing up.

    How long does the loan process take?

    The online application process can be completed in just a few minutes and approval can come within 24 hours.

    It may however take a few business days for the money to be in your account.

    How to apply for an auto loan?

    Completing the online application form is the easiest way to apply, although you may make an appointment to visit one of the branches or call the customer service line.

    What payment methods are supported?

    Setting up auto payments on a monthly basis is encouraged by M&T.

    If you choose this option you’ll receive a small discounted interest rate on your auto loan. You can also make one-off payments online.

    Pros and Cons


    • Good range of interest rates
    • Applications can be approved quickly


    • You may need an excellent credit score to be eligible
    • You can’t apply for an auto loan if you don’t live in a state where M&T operates

    Is M&T bank right for you?

    M&T definitely has some good interest rates available on its auto loans.

    However, credit and state restrictions might be too much for some people to consider applying. 

    If you have poor credit you might want to try the Consumer Credit Union first.

    It operates nationwide and welcomes those with little to no credit history.

    For those living in states without M&T branches, you could apply via one of the larger auto loan companies, such as Carvana.