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Vehicle Financing

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Find Wells Fargo Auto financing at nearly 11,000 dealerships nationwide

With a network of nearly 11,000 dealerships nationwide, be sure to ask the dealership if Wells Fargo Auto financing is available to you.

Considerations before financing:

  • Interest rate - confirm the annual percentage rate (APR) of your loan. Determine whether the loan has a fixed rate (monthly payments and rate remain the same) or an adjustable rate (monthly payments and rate can change). Your interest rate and monthly payments will depend on your credit, your income, and your vehicle preference. Interest rates on new vehicles are often lower than rates for used vehicles.
  • Total amount financed - be sure the amount on your loan documents is the same as what you asked for. Consider local taxes when determining the total dollar amount to be financed. Check your county and state website for more information on local taxes.
  • Monthly payment amount - make sure your monthly payments can be maintained within your monthly budget.
  • Potential penalties - find out if you can pay your loan off early without paying a penalty. If you can’t, find out how much extra you would pay.
  • Hidden charges - credit insurance or other fees may be included in some car loans. Consider paying for these services only if you need them.
  • Term length of your loan - car loans generally range from 36 months to 72 months. Longer terms can lower your monthly payments but could cost you more over the life of the loan.

Increase your likelihood of approval

Knowing your credit score will help you plan a realistic approach toward financing your next vehicle. While you can still get approved for a loan with a lower credit score, you may have a higher interest rate.

If this is the case, or if your credit score is too low for approval, consider signing with a co-applicant. A co-applicant is an individual who enters the loan with you and may maintain part ownership of the vehicle under that loan.

Buying a vehicle is an exciting experience, but it can also be overwhelming with so many variables to consider. Here are some helpful tips to make your buying experience a little easier:

  • Think about how you plan to use your vehicle, considering things like interior space, car size, maintenance, and gas mileage.
  • Do your research, and test drive all of the cars you're interested in. Consulting a reference guide (or two) for general specifications and fair market values is always a good idea. 
  • Consider costs beyond the sticker price. As you set your vehicle budget, be sure to factor in additional expenses like fuel costs, registration fees, maintenance, insurance, and repairs. For example, used cars typically have lower insurance costs, but may cost more to finance than a comparably valued new car.

Considerations when buying a new vehicle:

  • Aim for the vehicle you really want within your price range - if there is a color or feature you’re interested in but the dealership doesn’t currently have it, you may still be able to get the model you want. Dealerships often have the ability to obtain the specific models not currently in their inventory, and it shouldn’t cost more money.
  • Test drive the vehicles you’re interested in - if possible, drive the vehicle in different environments to see how it performs and whether you feel comfortable operating it.
  • Explore promotions and manufacturer incentives - be sure to ask about current and future promotions and offers that may lower the price of the vehicle you’re interested in.
  • Make sure you fully understand the offer - check the details and the fine print before committing to anything, especially if the offer seems too good to be true.
  • Give yourself time to evaluate your options - carefully spend time at the dealership examining the vehicles you are interested in that are within your budget. Try to avoid making a quick decision. Consider all available options.

Considerations when buying a used vehicle:

  • Take time to inspect the vehicle during daylight hours - viewing the vehicle during the daytime with a dealer or private party gives you the opportunity to take your time to examine it clearly and comprehensively, giving you a better chance to see any potential blemishes, damage, or issues.
  • Test-drive on multiple road surfaces - make sure the vehicle performs as it should in a variety of potential conditions such as snow, rain, and highway driving.
  • Use services like carfax.com to examine the vehicle’s history - find out the vehicle’s service records, how many previous owners it’s had, and whether it has ever been in an accident.
  • Have a mechanic inspect the vehicle before buying - if possible, take the vehicle to a trusted mechanic before you purchase. Make your offer contingent on a successful inspection.
  • Look into certified warranty pre-owned programs - see if the vehicle manufacturer offers a certified pre-owned warranty for your used vehicle.