Jerry allows you to compare rates from dozens of insurers or lenders to identify the best savings on the market. Choose Jerry to make your auto refinance process as easy as can be.

Calculate your APR

Here’s a handy tool to help you calculate your approximate loan interest rate:

Loan Amount

Credit Rating

Average Annual Interest Rate	Average Monthly Payment
8.45	$362

Citizens Bank auto loans overview

Citizens Bank offers car loans but does not offer auto refinancing.

Citizens does not list a minimum credit score or income needed to qualify for a loan, so a variety of borrowers are welcome to apply.

Citizens does not offer direct loans. Instead, all applicants with Citizens must sign their loan with a dealership.

Here’s everything you need to know about Citizens Bank auto loans:

Starting APR: N/A
Loan amounts: Depends on the dealership
Loan terms: 48-72 months
Minimum required credit score: N/A
Minimum required income: N/A
Application fee: N/A
Prepayment penalty: N/A
Prequalification or preapproval: N/A
How to apply: Apply through a partnering dealership. Borrowers in CT, MA, and RI are eligible to find a vehicle to finance through the Citizens Auto Advantage program.

Citizens Bank auto loan pros	Citizens Bank auto loan cons
Option to use home equity to finance a car	Lack of information outside of contacting an individual dealership

What kind of auto loans does Citizens Bank offer?

Citizens offers auto loans between 48 and 84 months. Borrowers can apply at partnering dealerships across the country.

How much do they cost?

Citizens does not specify a minimum loan amount or minimum APR. Rather, loan rates will vary depending on the dealership to which you apply and your financial situation.

Generally speaking, lenders might charge APRs anywhere between 2.99% and 19.99%. Credit score is one of the main determinants of loan rates.

Borrowers with prime credit scores or above (at least 660) will enjoy the lowest rates. Those with subprime (580-619) or deep subprime scores (below 580) will face the highest rates.

Who is eligible?

Citizens does not specify any restrictions as to who can apply for an auto loan.

With any lender, a candidate is more likely to get approval if they have steady income, a decent credit score, and a debt-to-income ratio of 43% or lower.

Getting a quote

The only way to finance a vehicle through Citizens Bank is to apply with a participating dealership.

Residents of CT, MA, and RI can use the Citizens Auto Advantage pilot program as a first step.

Application requirements

First, you’ll need to get an auto loan quote. Find a participating dealer near you. If the dealer offers preapproval or prequalification, it’s best to apply for this to know exactly how much you can budget for a car.

To make an initial application, you may have to show:

Identifying and contact information
Information about your employment status
Social security number
Information about the type of car you want

At the time you apply, the lender will usually conduct a hard inquiry of your credit, which can cause your credit score to drop temporarily. Apply to all your potential lenders within a 14-day window and only one hard inquiry will be counted.

After you get prequalified (or just a quote), it’s time to shop for a car. Be sure to test drive all the models you’re interested in. You also don’t have to spend the full amount you’re qualified for (this will save you money in the long run).

Once you’ve chosen a vehicle, meet with the dealer to sign the loan. Take time to thoroughly review your loan agreement and ask any questions you have so you know exactly what you’re agreeing to.

To sign a car loan, you’ll need to present (if you haven’t already):

Proof of identity
Proof of income
Proof of residence
Proof of insurance

Financing amount

Citizens does not specify minimum loan amounts, so you’ll have to check with the partnering dealers in your area. The total amount you’ll have to pay for a loan includes the balance for the car, the interest, and any of the following:

Taxes and licensing fees
Dealer fees
Add-ons, such as an extended warranty or gap insurance

Refinancing your Citizens Bank auto loan

Car loans taken out at dealerships often come with higher interest rates and sneaky dealer fees.

While you can’t change the terms of your loan once you sign on, you can take out a new loan to pay off the old loan at a better interest rate, otherwise known as refinancing the car.

A few reasons you might consider refinancing down the road include:

High monthly payments
High interest rates
You have better credit now to qualify for better terms

Citizens does not offer auto refinancing at this time.

Before refinancing, you’ll likely need to have positive equity, meaning you owe less on the loan than the vehicle is worth. On the other hand, if you’re currently upside-down on your loan, you may need to provide an upfront payment to secure a refinance.

What if Citizens Bank isn’t the right choice for you?

The loan terms you receive can vary depending on factors like your credit score and history, employment, debt-to-income ratio, and down payment. If you want to make sure you’re getting the best rate, you need to shop around.

Jerry is the super app that helps you save on all your car-related expenses, including auto loan refinancing.

After a quick sign-up, Jerry will compare loans from dozens of different lenders to find you the best loan terms. Even better, Jerry will handle all the hard parts of refinancing so that you can sit back and enjoy the monthly savings.

Hare are average rates from some of the most popular lenders:

Lender	Starting APR	Terms (months)	Loan amount
Bank of America	2.59%	48–72	$7,500+
Lightstream	2.49%	24–84	$5,000–$100,000
myAutoLoan	2.49%	24–72	$8,000+
Carvana	3.9%	36–72	$1,000–$85,000
Capital One	3.99%	36–72	$4,000–$50,000

FAQs

What credit score do you need to get a Citizens Bank auto loan?

Citizens does not list a minimum credit score needed to apply for a loan. However, since you’ll be applying through a partnering dealership, each dealer may decline borrowers under a certain credit score.

Borrowers with prime credit scores and above (660+) are more likely to get accepted and generally enjoy the best loan rates.