Regions Bank is a regional bank that offers a variety of financial products and services, including auto loans. Regions Bank auto loans are available in 15 states, and the bank offers loan amounts up to $100,000. Auto Loans Bank of Regions Reviews 2023.

Auto Loans Bank of Regions Reviews 2023

FeatureDetails
Interest ratesVaries depending on your credit score and the term of the loan. As of July 2023, the bank’s current APR range is 4.39% to 17.49% for new car loans and 5.29% to 19.49% for used car loans.
Loan terms36 to 72 months
FeesOrigination fee: 1% to 2% of the loan amount
Prepayment penaltyUp to 3% of the remaining balance if you pay off the loan early
Late payment fee$35
Customer serviceCustomer service center that is available six days a week by phone and online
Mobile appCustomer reviews of Regions Bank auto loans are mixed. Some customers have praised the bank’s low-interest rates and flexible loan terms, while others have complained about the high fees and lack of transparency.
ReviewsCustomer reviews of Regions Bank auto loans are mixed. Some customers have praised the bank’s low interest rates and flexible loan terms, while others have complained about the high fees and lack of transparency.
ProsLarge loan limits, flexible loan terms, competitive interest rates, good customer service
ConsHigh fees, lack of transparency, only available in 15 states
Other lenders to considerBank of America, Capital One, Chase, Wells Fargo, Ally Financial, PenFed Credit Union, USAA, LightStream, SoFi

Interest rates

Regions Bank auto loan interest rates vary depending on your credit score and the term of the loan. As of July 2023, the bank’s current APR range is 4.39% to 17.49% for new car loans and 5.29% to 19.49% for used car loans.

Loan terms

Regions Bank offers auto loans with terms ranging from 36 to 72 months. The shorter the term, the lower your monthly payments will be, but you’ll also pay more in interest over the life of the loan. Auto Loans Bank of Regions Reviews 2023.

Fees

Regions Bank charges a variety of fees for auto loans, including:

  • Origination fee: 1% to 2% of the loan amount
  • Prepayment penalty: Up to 3% of the remaining balance if you pay off the loan early
  • Late payment fee: $35

Customer service

Regions Bank has a customer service center that is available six days a week by phone and online. The bank also offers a mobile app that allows you to manage your account and make payments on the go.

Reviews

Customer reviews of Regions Bank auto loans are mixed. Some customers have praised the bank’s low-interest rates and flexible loan terms, while others have complained about the high fees and lack of transparency.

Overall

Regions Bank auto loans can be a good option for borrowers with good credit who are looking for a large loan amount. However, the bank’s fees are high, and the lack of transparency can be frustrating for some borrowers.

Here are some pros and cons of Regions Bank auto loans:

Pros:

  • Large loan limits
  • Flexible loan terms
  • Competitive interest rates
  • Good customer service

Cons:

  • High fees
  • Lack of transparency
  • Only available in 15 states

If you’re considering a Regions Bank auto loan, be sure to compare rates and fees from other lenders before you make a decision.

Here are some other lenders to consider:

  • Bank of America
  • Capital One
  • Chase
  • Wells Fargo
  • Ally Financial
  • PenFed Credit Union
  • USAA
  • LightStream
  • SoFi

FAQs:

Q: What is the interest rate range for Regions Bank auto loans?

A: The interest rate range for Regions Bank auto loans is 4.39% to 17.49% for new car loans and 5.29% to 19.49% for used car loans. The interest rate you qualify for will depend on your credit score and other factors.

Q: What are the loan terms available for Regions Bank auto loans?

A: Regions Bank offers auto loans with terms ranging from 36 to 72 months. The shorter the term, the lower your monthly payments will be, but you’ll also pay more in interest over the life of the loan.

Q: What is the customer service like for Regions Bank auto loans?

A: Regions Bank has a customer service center that is available six days a week by phone and online. The bank also offers a mobile app that allows you to manage your account and make payments on the go.

Q: How can I apply for a Regions Bank auto loan?

A: You can apply for a Regions Bank auto loan online, by phone, or at a branch. To apply online, you’ll need to provide some basic information, such as your name, address, and contact information. You’ll also need to provide information about your vehicle and your income.

By Shakeel