Wells Fargo allows all car loan applicants the option of having a co-applicant if desired. In many cases, a co-signer is beneficial in achieving a better loan rate and is also a helpful option for individuals hoping to build or establish credit. Although Wells Fargo offers the option to complete an application online, borrowers can also apply at a local Wells Fargo location if they prefer to go through the process in person with a Wells Fargo representative.
Wells Fargo offers specialty vehicle financing, which covers motorcycles, power sport vehicles, recreational vehicles, boats, yachts and even aircrafts. There are no fees to apply for these loans and, once approved, customers will usually be financed within 1-2 business days.
The interest rate examples displayed on the Wells Fargo website won’t apply to many applicants – the fine print listed with the APRs shown on the site say that the rates are based on the assumption that an applicant has excellent credit, is applying for a loan larger than $22,000 and has a loan-to-value ratio of less than 115%. Based on the website’s information, these rates will only apply to a small percentage of applicants, so it’s likely that the average borrower will have a higher APR.