Wells Fargo

Wells Fargo is a well-reputed and reliable company that has been offering auto loans and other financial services since 1852. Over those years Wells Fargo has earned a reputation of trust due to its attention and loyalty to customers.

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    How do Wells Fargo auto loans work?

    Wells Fargo auto rates are as low as 3.90% APR for a new car, and 5.26% APR for a used one if the vehicle is purchased at a dealership.

    Its refinancing and lease buyout rates start at 5.33% APR and 5.08% APR, respectively. If you're buying from a private party, not a dealership, the rate is as low as 8.47% APR.

    Credit score

    These rates are based on an assumed credit score of 740, which is a decent score.

    Those who fall below this can still apply but may have to pay a higher rate.

    How much can you borrow?

    It’s possible to borrow the full asking price of your ideal vehicle from Wells Fargo.

    What types of vehicles are eligible for financing?

    The auto loans available should cover most cars, convertibles, SUVs, vans, and trucks.

    How do I qualify?

    Anybody in the USA is able to create an account with Wells Fargo.

    It’s got more than 13,000 ATMs and approximately 5,400 retail banking branches coast to coast and is present in almost every state, and therefore eligibility isn’t based upon your neighborhood.

    What documents do I need?

    When creating an account to apply for your auto loan, be sure that you already have your necessary documents prepared.

    You’ll need a Social Security card or number, a valid and current photo ID, such as a driver’s license, state ID card, or a passport, and also a parent if you’re under age 18 (19 in Alabama).

    What are the fees?

    All Wells Fargo personal loans charge a $39 late fee. But the good news is you’ve got a 10-day grace period after your due date to pay and avoid the fee.

    How long does the loan process take?

    Applying is quick and easy, provided you already know all the relevant information, and should take less than ten minutes. You can be approved almost immediately. 

    How to apply for an auto loan?

    As there are thousands of branches, it’s likely you’ve got a local Wells Fargo that you could visit and apply in person. Alternatively, you can do it online.

    What payment methods are supported?

    It’s possible to pay by credit card, bank transfer, cash, or cheque.

    Pros and Cons


    • Great reputation
    • You likely have a nearby branch
    • Almost anyone can apply


    • Those with poor credit ratings may pay a high price
    • Wells Fargo focuses on so many different things that the best auto loans may not be a high priority

    Is Wells Fargo right for you?

    Wells Fargo is a stellar organization with a powerful reputation.

    It has fair rates, and the process for applying for an auto loan is easy and won’t take long. 

    However, Wells Fargo is a bank first and foremost, focusing on a huge range of different products.

    If you’re looking for a business that’s more auto loan-oriented, and therefore offering better deals and closer attention, you should check out My Auto Loan, a site that pays particular attention to vehicle loans.