For over 65 years, Wells Fargo Auto Finance Services has been helping customers finance or refinance their vehicles. With loan options for purchasing new and used cars, as well as a plethora of refinance options, Wells Fargo offers a loan option for almost any borrower. In addition, Wells Fargo is one of the few companies we reviewed that provides loans and refinancing for specialty vehicles like motorcycles, boats, and RVs. They also offer extended term lengths up to 72 months.

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The Good

Co-signer options
Online application
Speciality vehicle financing

Co-signer Options

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. Wells Fargo offers the option to complete an application online, which is extremely convenient for customers who do not have the time to come in person. 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.

Speciality Vehicles

Wells Fargo offers specialty vehicle financing, which covers motorcycles, power sport vehicles, recreational vehicles, boats, yachts, and even aircrafts. This is very uncommon in the industry, and great for customers who are looking to purchase speciality vehicles. There are no fees to apply for these loans, and once approved, customers will usually be financed within one to two business days.

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The Bad

APR may be higher
Must read the fine print
Lack of transparency

APR

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 state 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 percent. 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. Well's Fargo beginning rates are higher than most in the industry at 3.13 percent. Other companies in the auto loan industry have a starting APR of 1.75 percent.

Lack of Transparency

Well's Fargo is also lacking a great deal of information that should be on their website. This lack of information can make it difficult for potential customers to compare services and find the company that best fits their needs. It also makes it difficult for our team to rank their services with other companies in the industry. We would like to see more information regarding application fees, loan amount, mileage limits, early-pay penalty fees, and bad credit loan options.

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The Bottom Line

Wells Fargo is one of the few lenders we reviewed who offers loans for specialty vehicles. The APR could be slightly higher than advertised for most borrowers, and is higher than other companies in the industry. However, Wells Fargo offers a range of terms and the ability to have a co-applicant, which may give borrowers more loan options to choose from. Because of the higher APRs and the lack of information, we cannot recommend working with Well's Fargo for your auto loan needs at this time.

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User Reviews

Star Rating

3.7

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96 Reviews

Review Breakdown

5 grade

44%

4 grade

17%

3 grade

19%

2 grade

1 grade

15%

Sentiment Criteria

Value

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Quality

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Service

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Carlos M. Hercules, CA

Wells Fargo is the best with car loans. they approved me on my new truck from Toyota. I got the rate I wanted, and everything went smooth. Wells linked the loan to my checking account, so I like that because I didn't need to make a new account for this loan. if you want to make a payment, it's pretty straight forward. you make it straight from your account and click on loan and you make your payment. easy as that.

3 years ago

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Patricia Miller Preston, ID

When we decided to buy a fishing lodge in Alaska we had only one bank to use-Wells Fargo. We were really concerned but after meeting with the bank branch in Petersburg, Alaska we felt much better. This branch has been wonderful to work with and has always helped us with our questions or problems.

5 years ago

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Eddie Rios Ogden, UT

Wells Fargo was awesome to use when we financed an SUV. They had the best rates and lowest fees. I was surprised that a big bank could offer great customer service, but they did. They have tons of locations to making the management of my SUV loan easy to handle.

5 years ago

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Joseph Faenza Ashland, PA

I had a car loan with Wells Fargo in the past and it was a great option for myself because I already had other Wells Fargo accounts so everything was linked together in one place which made easy to manage all accounts!

2 years ago

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Sylvia Horner

I have never had any problems since I have been paying them for the loan on my car. I have had other companies contact me about re-financing my loan for a lower price and I may do that down the road.

7 years ago

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Randi

I have never had any problems since I have been paying them for the loan on my car. I have had other companies contact me about re-financing my loan for a lower price and I may do that down the road.

7 years ago

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Anne Sainsbury Orem, UT

I financed my first car that I purchased in 2016. I had been banking with Wells Fargo for quite some time so financing my car through them was a no-brainer. During the time that I was paying off my loan I received consistent reminders for payments, the payment process was quick and easy online, and customer service was great!

4 years ago

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Fernando Delgado Tempe, AZ

I love how easy it is to access my information on Wells Fargo for my car loan. It's very descriptive and understandable. We had our car loan for over 48 months and we are 1 month away from paying off our car. Never have we had a problem with wells Fargo since we got our loan with the best interest rate compare to other loans.

6 years ago

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NT Pleasant Grove, UT

very impressive customer service. quick service and approval, in and out with signing papers less than an hour. i was offered a low interest rate from another bank and immediately switched to Wells Fargo for my auto loan. Monthly payments were easy to make as they mailed me monthly booklets to include with my payments.

7 years ago

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JG00 Saint Charles, MO

Wells Fargo was my assigned bank when I purchased my car. After two and a half years of paying consistantly with $30 extra toward the principle, they lowered my monthly bill by a good amount.

5 years ago

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Christy Suguturaga Orem, UT

I don’t know if I had a good experience because I had great credit or because Wells Fargo was just easy to work with but the whole process was seamless and quick. I am still amazed.

6 years ago

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Kristin G Pleasant Grove, UT

One of our car loans is through Wells Fargo and they have been great to work with! My daughter bought her first car and her rate was low and the process took less than an hour!

7 years ago

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Tom Pleasant Grove, UT

I have used Wells Fargo for three of my car loans in the past and I like the ease of the loan process, I like their rates and the value you get for your money, and I like that they are a large bank and very convenient.

7 years ago

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KingRobert747 Ashburn, VA

Easy to do business with and I've had a couple of vehicle loans with Wells Fargo.. Will consider future business(in regards to vehicle financing ).

3 years ago Edited March 23, 2022

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Myken Salt Lake City, UT

Getting a car loan with Wells Fargo was easy. They offered us a great rate, quick approval and excellent service. We felt like valuable customers.

5 years ago

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Holly Clark

I would rate them 5 out of 5 because they did everything they were able to do for us. Answered every question and every concern.

7 years ago

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Magaly De Avila Provo, UT

I got a car loan just recently and they were very quick to approve and check to make sure that I would be able to work with them. Wells fargo is great!

6 years ago

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Peter Land O' Lakes, FL

Fantastic company! Great rate and low fees. Stellar Customer Service and very functional/user-friendly app.

2 years ago

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Mindy Clarke Tacoma, WA

I had two car loans with Wells Fargo, site is easy to navigate and they have stellar customer service.

2 years ago

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Hannah Barth Tallahassee, FL

I purchased a new vehicle in January of 2019. Wells Fargo financing gave me decent interest rate and it was easy to set up online payments.

4 years ago

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Bunney Schmidt Orem, UT

We have a car loan with Wells Fargo and they are great at communication. I receive statements electronically and confirmation of any payment made.

6 years ago

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Fernando Delgado Laveen, AZ

I love how easy it is to access my information on Wells Fargo for my car loan. It's very descriptive and understandable.

7 years ago

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Joseph Tempe, AZ

Got an Auto loan from Wells Fargo a while back, great loan, great rate and easy process to qualify

2 years ago

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LeAnn Baytown, TX

We used Wells Fargo for one car loan. The customer service is great. The app is user friendly.

4 years ago

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Annie Chow Tallahassee, FL

Great offerings for car loans. They helped me get my first car for a great price.

5 years ago

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Shanna South Jordan, UT

This company is easy work with and super supportive if you are going through a hard time. Stern but compassionate

7 years ago

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Haley Houtz Herriman, UT

Wells Fargo is a great company! They are professional, trustworthy, and their customer service is excellent.

7 years ago

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Joanna Hester Gilbert, AZ

We have two cars loans through WF. Great customer support and have never had any issues with my loans.

7 years ago

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Kristin Pleasant Grove, UT

Wells gave me a very comparable rate for my daughters first carload. The customer service was top-notch.

7 years ago

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Colt Mansolo Kyle, TX

Great monthly payment, didn’t over charge too much, everyone was friendly

1 year ago

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Marci Randall Sandy, UT

Got a loan easily because we had our accounts through them. I was impressed

3 years ago

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JAQUELIN R KETOLA

Always responded to questions quickly and love their online app

7 years ago

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Larry

No problems with anything they've done. All contacts have been favorable

7 years ago

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A. Alice Savannah, GA

They are honest, fair, and are a well established company.

7 years ago

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Warrec

Best rates for auto loans and fast approval.

7 years ago

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Thomas

GREAT LOW INTEREST RATE!!!!!!!!!!!!!!!!!!!!!!!!

7 years ago

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pao

Never had any issues that would make me think less of them

7 years ago

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Glenn Dalton Salt Lake City, UT

Easy to use, local(to me) great customer service with fair rates.

3 years ago

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Shanelle vickers Jacksonville, FL

The best bank ever. They are very accommodating and negotiate well

4 years ago

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H Moore Lehi, UT

Wells Fargo is our main bank, and we've always enjoyed working with them.

7 years ago

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Ashley Pleasant Grove, UT

Wells Fargo did a great job in helping me find a good rate for my car loan.

7 years ago

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Emily Hamilton Orem, UT

Amazing costumer service ive loved working with them

3 years ago