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Auto loans for new and used vehicles are not available directly through Wells Fargo Bank. They have a Wells Fargo dealer services program that provides auto loan financing to over 11,000 dealerships across the United States.

Wells Fargo Auto Loan

2.5 out of 5

Wells Fargo Auto Finance program offers a wide range of car loan products including loan term options between 12 and 72 months. A nice option is that they offer specialty (RV, motorcycle, boat) vehicle financing in 45 states through their dealer services loan program. Customers regularly complain of under-trained, rude, and apathetic customer service representatives. Wells Fargo auto loan rates are consistently higher than their competitors.

3.5 out of 5
2 out of 5
4 out of 5
1 out of 5


Multiple Loan Products

National Lender Network

Specialty Vehicle Financing


High APR Rates

Poor Customer Service

30+ Minute Hold Times

Who Is Wells Fargo Bank NA?

Wells, Fargo & Co. was founded by Henry Wells and William Fargo in 1852 to serve the West coast with banking and express delivery. 

Over the years Wells Fargo Bank NA has moved away from its pony express days and focused on the financial services industry.

Today Wells Fargo Bank N.A. is one of the largest banks in the U.S. with over 6,314 branches, 13,000 ATMs, and 259,000 employees. 

Wells Fargo Bank Auto Financing offers new, used, and refinancing for automobiles under eight years old with flexible mortgage terms between 12 months and 72 months. 

They have partnered with over 11,000 dealerships to offer new and used auto financing through their dealer services program.

An ongoing problem for Wells Fargo Bank has been the seemingly endless embarrassing settlements of government lawsuits for shady business practices.

One of these recent settlements involved customers being charged fees that were not in their auto loan contracts. Customer reviews complain of poor customer service, long hold times, and high-interest rate auto loans. Based on these issues and many more, we’d recommend you consider a different company for your car financing needs.

What Makes Them Different?

Wells Fargo offers some nice options and products that many other banks do not.

Their specialty vehicle financing program is one of the best in the industry, offering loans for RV’s, motorcycles, boats, yachts, and planes (why not, right!).

Wells Fargo Bank will also give you the option to easier qualify for your next auto loan by allowing you to add a co-signer to the loan application.

You can complete the loan application, provide all documentation, check your loan status, and pay your loan all online through the Wells Fargo dealer services program.

However, the Wells Fargo website has very little information about their auto loan process and lacks the transparency that most other auto lenders provide.

You will need to read your contract carefully as Wells Fargo has a history of charging their customers fees that were not in the auto loan contract.

How Does Wells Fargo Auto Loans Work?

Wells Fargo Auto loans work the same as most banks, today. You will have the option of speaking with your local bank’s loan officer, or you can get auto financing from Wells Fargo through dealer services.

Wells Fargo Auto Loan Reviews reveal glaring deficiencies with Wells Fargo Finance processes when anything out of the norm is necessary.

Meet The Guidelines

First you need to meet the general guidelines before you can apply and those are:

At least 18 years old, A current resident of the US or Canada, and Employed full-time or able to prove a guaranteed fixed income of at least $1,000 a month

Are You Buying New or Used

You need to figure out what type of financing you will need, are you buying a new car or a used car?

Will you be refinancing or are you looking for a lease buyout?

Once you know which option you are going for then you can go to the next step.

Follow The Process

Get Your Paperwork Together

Things Wells Fargo Bank, NA will need are:

  • Banking History
  • Proof Of Income
  • Proof Of Identity
  • Proof Of Insurance
  • Proof Of Residency
  • Information On Vehicle You Plan To Purchase
  • Current Vehicle Registration (If you plan to do a trade in)

Keep in mind this is just a general list, Wells Fargo could need more or less information, just have at least the things above ready.

Time To Apply (Hard Inquiry)

Now that you know you meet the general requirements, you have all your documents together and you know what auto dealer you will be matched with, it’s time to apply.

Quick Tip:

FICO allows you to shop around for the best auto loan rates for 30 days after your first inquiry. During this grace period you can apply for an unlimited number of auto loans without any additional inquiries being recorded to your credit file. 

At this time you will probably see a hard credit inquiry hit your credit profile but don’t worry, FICO will give you a 30 day grace period to shop for as many Wells Fargo  Auto loan rates as you want and only show one hard inquiry will be recorded on your record.

It makes a lot of sense to get a Wells Fargo Loan Pre Approval letter before going to the dealership to buy your car.

Review Your Offer

Be sure to review the offer from Wells Fargo Auto Loans before you purchase.

You need to look at their requirements as well as the Wells Fargo auto loan rates and if they will require a down payment or a co-signer.  Just be sure to pick the best offer!

Look At Everything

Remember that Wells Fargo Auto Loans will have their own specific requirements so be sure to look at the offer with as much detail as possible.

Make sure you understand what you are paying for and keep referring to the original offer to make sure nothing changed from the time you accepted it to the time your loan was funded.

Pick The Best Offer

Once you choose an offer your loan can be funded by either bank deposit, ach, check or certificate.

Be sure to speak with your Wells Fargo Auto Finance loan officer about the date the funds are estimated to be available.

Wells Fargo Auto Online customer reviews indicate this estimated date may not be met.

Auto Credit Express Tools

Before you start your application process, I recommend you check out some of the tools offered by Auto Credit Express to get a better idea of how much loan you may qualify for and what the costs would be.

Wells Fargo Auto Loan Calculator

Before starting the auto loan process there are a couple of things you should familiarize yourself with and the Wells Fargo Auto Loan Calculator is a great tool.

You should be aware of the current interest Wells Fargo Auto Loan rates, and the Wells Fargo auto calculator will be helpful in determining how much of a loan and payment you can afford.

Checking Current Wells Fargo Auto Loan Rates

First you want to check out the interest rate chart; we put this one below to give you an idea of what the chart looks like, you should be sure to click here to see current Wells Fargo Car Loan rates.

Current Auto Loan Interest Rates 

Dates60-month new car48-month new car36-month used car
6/15/20224.56% 4.53%4.84%
5/18/20224.59% 4.56%4.87%
5/11/20224.32% 4.30% 4.72%
4/27/20224.47%4.44% 4.73%
4/20/20224.38%4.34% 5.84%
4/13/20224.22% 4.18%4.48%
4/6/20224.21% 4.17% 4.47%
3/30/20224.12% 4.12% 4.52%
3/23/20224.08% 4.08% 4.48%

The above chart gives you an idea of the starting interest rate based on how long you need the loan for.

As you can see, the longer time you plan to take to pay the loan off, the higher the rates become.

While the monthly premiums will be lower if you select a longer payoff period, you are going to end up paying much more interest.

Estimating Your Rate

Once you have an idea of what your starting interest rate might be  you can now use the Wells Fargo Auto Calculator to help explore rates and payments.

During this step you will choose the type of loan , the loan amount, put in your credit type or actual credit score and then your Zip Code.

Once you complete this process you will see 3 different APR’s, a low APR, an average APR and a high APR.

You can use the Average APR to help determine what your monthly car note may be.

Figuring Out Your Car Note

This tool is going to help you understand how much you will need to pay on a monthly basis based on the loan term length you choose.

Wells Fargo Auto Loan Reviews

Wells Fargo auto loan reviews are mostly very negative.

Customer reviews reveal a lender that has lost sight of their customers needs and regularly takes actions that would indicate customer apathy.

Below are some of the Wells Fargo Car Loan reviews:

As part of the process of this review, we read countless hours of Wells Fargo Car Loan reviews and while it is not uncommon for a large company to have negative reviews, these were especially troubling.

Looking closely, it doesn’t take long to realize that Wells Fargo dealer services program customer service consistently shows a callousness to problems they have created and will make the minimal amount of effort necessary to correct a problem.

One example would be the number of complaints from people checking on their Wells Fargo Car Loan Status and finding out that it keeps getting extended.

The estimated Wells Fargo Auto Loan Status seems to be just that, an estimate, we’ve read customer reviews complaining of months of run around before funding.

If you are one of the lucky people who never has to contact Wells Fargo Dealer Services than you will probably have a fine experience but if there are any problems along the way…

Below we have gathered the most trusted customer Wells Fargo Car Loan reviews from sites such as Yelp, Google and BBB for the Wells Fargo Auto Finance Division.

Wells Fargo Auto Loan ReviewsCustomer Average Rating
Yelp Reviews Avg. Rating1.5
Google Reviews Avg. Rating2.0
Better Business Bureau Avg. Rating1.0
Consumer Affairs Reviews Avg. Rating3.4
Best Company Reviews Avg. Rating3.8

Wells Fargo Auto Loan BBB – Better Business Bureau

Wells Fargo Auto Loan BBB has had a file at the Better Business Bureau since 1978.

Unfortunately, they do not have a BBB rating but do have a staggering 4199 complaints in the past three years.

Wells Fargo BBB complaints tend to be financial related with claims of fees being charged outside of the contract or loan payments continued to be debited from customers accounts after being paid off.

The Wells Fargo BBB Reviews generally point to a company that wants your business so long as it is all of the online and of the automated variety.

Wells Fargo BBB reviews and customer complaints are not taken seriously by the company as most go without a response which may be why they do not have a rating.

Taking Action On An Auto Loan

Hopefully, you found this Wells Fargo Auto Loan Review helpful because getting an auto loan can be complicated and a time-suck if done incorrectly.

Now that you know there are dealerships ready and willing to work with you there is no reason to go without a car.

Getting a car loan is also part of establishing a different type of tradeline which overtime, will help increase your credit score.