U.S. Bank Logo
star star star star_half star_border
LAST UPDATED: April 23rd, 2021
U.S. Bank was founded in 1929. U.S. Bank has a dedication to community development, philanthropic efforts, and maintaining an environmentally-friendly business culture. They provide all types of banking and financial services, including financing and refinancing options for new and used cars, boats and, recreational vehicles.

Top Ranked Companies


The Good

  • Online pre-approval form
  • Two hour approval

Online Services

U.S. Bank is the only car loan company we reviewed that offers an online pre-approval form. This enables prospective borrowers to find out how much they could borrow from U.S. Bank and what APR range they would be offered without having to file a full loan application. Pre-approval can be done online, over the phone, or by visiting a U.S. Bank branch directly. This is a great convenience to customers who want answers quickly to their auto loan questions.

Two Hour Approval

For borrowers who are ready to apply for a car loan, U.S. Bank offers an online application. Borrowers are typically notified of approval within two hours. If assistance is needed, borrowers can call U.S. Bank and ask for an auto finance specialist to walk them through the application, as well as answer any questions they may have.

The Bad

  • Lacks basic auto loan information
  • No APR range listed
  • Higher starting APR

Lacking Information

The U.S. Bank website contains little information about car financing or refinancing, explanation of APR, and payment guidelines. Much of the detailed information is not in the body of text on the web pages, but at the bottom of the page in very fine print. This may make it difficult for borrowers to browse the site and find information. We would like to see more information regarding application fees, loan amount, and bad credit loan options. Not only does this lack of information make it difficult for us to rank their services, but it also makes it inconvenient for potential customers.


U.S. Bank also doesn't list the APR range that they offer on the site. Most car lenders we reviewed clearly stated what APRs could be expected so that borrowers could apply for their loans with no surprises. U.S. Bank's website lists a starting APR of 2.49 percent but includes no other information.

Legal Issues

In September of 2014, U.S. Bank agreed to a consent order with the Consumer Financial Protection Bureau (CFPB) for alleged charges that U.S. Bank charged consumers for services that they did not receive, including identity protection and credit monitoring. U.S. Bank agreed to pay a $5 million penalty and repay $48 million to customers who had been charged for services they hadn't received. This could be an indication that U.S. Bank may charge customers without providing the corresponding services. Borrowers who choose to use U.S. Bank may want to ensure that they are receiving all the services that they pay for.

The Bottom Line

The pre-approval feature is a distinct benefit of U.S. Bank. However, the lack of transparent information on the website could pose a problem for borrowers who are unfamiliar with the car financing process. In addition, U.S. Bank's alleged previous failure to provide services that customers paid for could be a cause for concern. We recommend considering other options for your auto loan needs at this time.
Was this content helpful?
thumb_up Yes thumb_down No

Star Rating


star star star star_half star_border

5 Reviews

Review Breakdown

5 grade


4 grade


3 grade


2 grade


1 grade


Sentiment Criteria


star star star star star_border


star star star star star_border


star star star star star_border


star star star star star_border

Filter by:


Sort by:

star star star star star_border

Gene Shore

Get my thing I don't like is they leave messages on my voicemail and I don't trust any phone calls rather have them email me when there is a problem

5 years ago

star star star star_border star_border

William South Jordan, UT

I have had a few issues with customer service but they have all been resolved. My biggest complaint is that there aren't very many locations in my area.

5 years ago

star star star star star


Good rate and great service. US bank is always there with answers and helpfulness

5 years ago

star star star star star

Frank Ruffin

easy to use ,rate very competitive, responsive, reliable

5 years ago

star star_border star_border star_border star_border

Dennis Blough

Poor tracking of loan and poor service from telephone support.

5 years ago