Fifth Third Bank Auto Loans

Reviews: Fifth Third Bank Auto Loans

Reviews: Fifth Third Bank Auto Loans

Fifth Third Bank Auto Loans

Overall lender rating

1.8
out of 5
24 reviews
from Credit Karma members


Member ratings

All member reviews (24)

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17
Apr 25, 2019
The Worst Bank EVER!!!
Credit Karma member

Back in 2014 I got a car loan from this bank, and all was ok, until, something happened and all my scheduled payments got cancelled (not by me) and were never processed. Since I had the payments set up I wasn't even thinking to check if they were clearing, as I was busy with other things (recently bought a house and was renovating it). As a result I missed 2 or 3 payments, but no one bothered to call me, because supposedly they didn't have permission to contact me by phone, email and mail, but apparently they did have permission to enter my premises and reposes the car. I literally made over 30 calls to figure out what happened and how I can get the car back, and each time they hung up on me without providing any information. At one point, one of the customer service representatives asked me if there is anyone with me, because she heard voices. I replied that I'm standing in line in the store and she told me that she needs permission from the people around me to talk to me. When I asked if she is serous she said yes and if I don't comply she will have no choice but to end the call. So I asked again, "do you seriously need permission from a stranger to speak to me about my personal matter?" and she hung up on me. When I called back, the same person answered and she literally denied talking to me a minute earlier, and she hung up on me again. Eventually, I was able to get info how to get my car back. So I paid through Western Union, waited for the bank to process the payment and went to pick up the car all the same day. When we got to the parking lot where the car was held the repo guy who picked up our car previous night told us that all this parking lot was jam-packed with cars financed through 5/3 bank. He himself admitted that he gets 90% of his business from this bank alone. Few months later, I saw a repossession on my credit, so I called the bank and asked if there is a way to remove it. I offered to pay off the loan and in return I asked if they could remove the repo from my credit history. I wasn't even surprised when even before I finished the sentence I hear NO. The explanation was that their, policy calls for accurate reporting. Wish it also called for reporting how unprofessional and deceitful this bank is. Honestly, even if my life depended on it, I don't want to have anything to do with this bank ever again, because nothing but trouble can be expected.

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Feb 27, 2019
Credit Karma member

I have a auto loan with this bank fifth third and I tell u I made a big mistake they charge u a fee every time u pay your auto loan. A big $15 dollars fee ??????????? that's crazy customer service is no good. At all. I refinance my loan with someone else now just waiting on 53rd bank to recieve the payoff

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Nov 18, 2018
Credit Karma member

Do not apply for this credit card or do any business at 5/3

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Nov 18, 2018
Bad
Credit Karma member

Took forever just to activate. Took several days to be able to get online and create a pin. When I got my first statement the minimum pmt was almost half of the total and more than any of my other cards with much larger balances. I guess if the coerce you to pay it off quickly-that is how they keep the interest rate at zero. When I called my contact at the bank-she could not be bothered to talk to me and the woman I talked with was really rude and unpleasant. Will not use card again-have had much better success with almost all other cards. 5/3 does not appreciate their customers.

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Sep 06, 2018
Incompetent.
Credit Karma member

Lost transfers, web site bugs, broken robo-callers, customer service lines that say they open at 8:00 but remain closed long after, online customer support that ignores messages. They're a total disaster. They reply with insubstantive garbage like current balance and next payment, even after pointing out that they ignored the issues listed in my complaints.

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Jan 13, 2016
Worst bank to finance a car with.
Credit Karma member

Our 2006 Chrysler Pacifica was originally financed with Fifth Third Bank. They were horrendous to deal with, no online payments, rude customer service, and they worked in the stone ages. Aftar about six months they sold us to Santander Consumer USA which is awesome compared to Fifth Third. Santander has been wonderful and operate in the modern era.

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Nov 22, 2014
Worst Auto Loan Ever
Credit Karma member

I will be happy when this one is paid off. I will never use them again.

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Nov 05, 2014
No Issue with Auto Loan
Credit Karma member

I just purchased a new car in May using fifththird bank to finance my auto loan. I have had no issues with this bank (Knock on wood). I use Bill pay through my checking account bank, and if I pay my loan today the payment will be posted tomorrow on my auto loan account. So I have nothing bad to say about this bank.

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Oct 23, 2014
It's not THAT bad as some people say
Credit Karma member

I feel the need to make a review because some of these people making reviews are just plain dumb... My only complaints are... 1. You do not get any statements mailed to you. When you call the number you get a automated recording of the status of your loan, which is okay I guess. I still would much rather get a statement every month. 2. Payment books? That's old technology.... BUT there is a much easier way to make payments than using those books. Online through MY personal bank I make payments every month straight to Fifth Third Bank. I set it up on Bill Pay and every month just pay it. No problems at all during the last 6 months doing it that way. 3. You cannot pay towards principal. Any amount more than your monthly payment will just simply lower next months payment or the month after if it's a large amount over what your monthly payment should be. That's IT!!! It's not that bad people. Would I choose this bank again? No I would not, just for those three things, but it's not as bad as some people make it out to be.

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Jan 22, 2014
What? No online loan access?
Credit Karma member

I bought my (used - but new to me) car back in 2009, and next month will be the very last payment I am scheduled to make on the auto loan. I don't have an account with 5/3 bank other than this loan, as I am a credit union member, and normally would give all of my business to them. I was approved for an auto loan through my credit union, and had planned to use it until it came time to close the deal. The dealership offered me a better interest rate with 5/3 bank than what I was preapproved for at my credit union. It saved me some $$, so I went for it. I haven't had any problems so far, but I didn't try to set up auto pay with them, as I do my online bill payments through my own credit union so I can control what gets pulled from my account each month. With the horror stories I have read above, I am glad I did that. So, why not 5 stars? Well, honestly, I really would like to access my auto loan online and have the option to make payments online (as opposed to making a bill-pay ACH payment each month). My husband has an auto loan with Chase, and he is able to access his auto loan as easily as his credit card. In fact, the accounts are linked, so he only has to log in one time. I don't plan on buying another car for some time, but when the time comes, I don't know that I'd be as eager to take a loan from this bank. Most likely, I'll go with my credit union instead.

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