At a glance
- Availability
- Affordability
- Customer Experience
- Transparency
About Regions Bank
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Loan amount
$5,000 to $100,000
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Min. credit score
Not specified
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APR from
6.49% to 13.99%
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Funds available in
Not specified
Regions Bank: 2023 Auto loan review
Published 2023-01-01 00:00:00
Pros and cons of Regions Bank auto loans
A high maximum loan amount may not be enough to balance out Regions' lack of prequalification and limited state availability.
PROS
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High maximum loan amount
Autopay discount
Offers EV auto loans
CONS
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Limited state availability
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No prequalification
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Restrictive used car requirements
Regions Bank has competitive interest rates and a high maximum amount for its auto loans. But the information available is scarce, and you will need to reach out to a Regions representative if you have questions about the process.
Auto loan types offered
Regions Bank offers auto loans for drivers looking to finance a new or used vehicle or refinance an existing auto loan. You can borrow anywhere between $5,000 and $100,000.
Financing with Regions includes complimentary guaranteed asset protection (GAP) coverage for new or pre-owned vehicles. GAP coverage protects you against vehicle payments if something were to happen to your vehicle.
New and used auto loans
Regions Bank allows for a high loan-to-value ratio — up to 110 percent on private party purchases and 130 percent on those from dealerships. But while it can be useful to help cover taxes or other expenses, borrowing more than your vehicle is worth can increase the chance of becoming upside-down on your car loan.
Refinance
Regions does not provide much information about its auto refinance program. However, it does not have a separate refinance application, so you will follow the same process as with its new and used auto loans. If you have questions about if your loan qualifies, email, call or visit Regions.
How to apply for a loan with Regions Bank
You can either apply for an auto loan online or in person at one of Regions Bank branches.
Regions states a fast credit decision will be available following loan application but shares no specific timeline on funding. The Alabama-based bank also does not disclose any fees, so it is worth your while to potentially prepare to pay application or origination fees.
Regions Bank FAQs
How Bankrate rates Regions Bank
Overall score 3.7 Availability 4 Regions only offers loans in 15 states but does offer a large maximum loan amount. Affordability 4 Regions has a high maximum APR but a steep minimum and undisclosed fees settles it with a middle-of-the-road score. Customer experience 4.4 Regions scores high for customer support with service available six days a week and full online access. Transparency 2.5 Rates are partially displayed on Regions site but fees and the ability to prequalify are not available. Methodology
Bankrate considers 18 data points when selecting top auto loans. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are broken up into four categories.
- Availability: Loan amounts, repayment options, dealership requirements and state availability all contribute to this category.
- Affordability: This section houses APR ranges, acceptance criteria, fees and discounts.
- Customer experience: How long you have to shop, customer service availability, whether there’s an app and autopay availability are accounted for in this section.
- Transparency: This category accounts for the availability of fees and rates along with whether prequalification is available.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.