What Truist charges for car loans depends on your credit score, the loan term, and whether the car is new or used
Truist, which operates as Truist Bank across the Southeast and Mid-Atlantic, offers auto loans through its retail branches and online. The interest rate you receive is not a single published number — it varies based on your personal financial profile. Someone with a credit score above 750 will pay a different rate than someone with a score of 650, even if both are borrowing the same amount for the same car.
Truist does not publish its rate ranges on its website the way some lenders do. This means you cannot see what rate you might receive without contacting the bank directly or starting an process. The bank uses your credit history, income, employment stability, and the vehicle's age and value to calculate your offer.
The rates also shift based on market conditions and the Federal Reserve's interest rate decisions. A rate that was available last month may not be available this week. This is true across all lenders, not just Truist.
Key Takeaways
- Truist auto loan rates vary by credit score, loan length, and vehicle type, so you must contact the bank to learn what rate you would receive.
- Your credit score is the single largest factor in your rate — a higher score typically means a lower interest rate.
- New cars usually carry lower rates than used cars at Truist, and shorter loan terms (36 to 48 months) often have better rates than longer ones (72 to 84 months).
- You can get a rate estimate by visiting a Truist branch, calling 1-800-872-2657, or explore online at truist.com without committing to the loan.
How your credit score determines your rate
Your credit score is the primary number Truist uses to set your rate. Lenders view higher scores as lower risk — someone with a 750 score has historically paid bills on time, while someone with a 620 score has missed payments or carried high balances. Truist prices that difference into the interest rate.
If your score is below 620, Truist may decline your process or require a co-signer. If your score is between 620 and 680, you will likely receive a higher rate than someone with a score above 700. The exact difference varies, but it is common to see a 2 to 4 percentage point gap between the lowest and highest rates Truist offers.
You can check your credit score for free through your bank, your credit card issuer, or websites like Credit Karma or AnnualCreditReport.com. Knowing your score before you contact Truist helps you understand what rate range to expect.
Why new cars get better rates than used cars
Truist typically offers lower rates on new vehicles than on used ones. A new car is worth more as collateral — if you stop paying, the bank can repossess and resell a new car more easily than a used one. That lower risk translates to a lower rate for you.
The age cutoff varies by lender, but Truist generally considers cars more than 5 to 7 years old as "used" for rate purposes, even if they have low mileage. A 2019 model year car will receive a used-car rate, while a 2024 model will receive a new-car rate.
The difference is usually 0.5 to 1.5 percentage points, though it can be wider depending on the vehicle's condition and mileage. If you are deciding between a newer used car and a slightly older model, the rate difference may factor into the total cost of the loan.
How loan length affects your rate
Truist offers auto loans in terms ranging from 36 months to 84 months. Shorter terms — 36 to 48 months — typically carry lower interest rates because the bank's risk period is shorter. Longer terms — 60 to 84 months — carry higher rates because the bank is exposed to your credit risk for a longer period.
The trade-off is monthly payment. A shorter loan means a higher monthly payment but less total interest paid. A longer loan spreads the cost over more months, lowering your payment but increasing the total amount you pay in interest. Truist will show you the monthly payment and total interest for each term option when you explore.
A 48-month loan might carry a rate of 5.5%, while an 84-month loan on the same vehicle might be 6.2%. Over the life of the loan, that difference adds up significantly, even though your monthly payment is lower with the longer term.
How to get a rate estimate from Truist
You have three ways to learn what rate Truist would offer you: visit a branch in person, call the auto lending team, or explore online. None of these require you to commit to the loan.
If you visit a branch, bring your driver's license, proof of income (a recent pay stub), and details about the car you want to finance — the year, make, model, and asking price. The loan officer will pull your credit report (which temporarily lowers your score by a few points) and provide a rate quote within minutes.
You can also call Truist's auto lending line at 1-800-872-2657. Have your Social Security number, income information, and vehicle details ready. The representative will ask questions about your employment and existing debts, then provide a rate estimate over the phone.
Online applications at truist.com allow you to enter your information and receive a rate estimate without visiting a branch. The process takes 10 to 15 minutes. Truist will perform a soft credit inquiry for the estimate, which does not affect your credit score. If you decide to move forward, they will perform a hard inquiry when you formally explore.
What happens after you receive a rate quote
A rate quote from Truist is typically good for 30 to 45 days, depending on market conditions. This means if you receive a quote today at 5.8%, Truist will honor that rate if you complete the process within that window. After the window closes, rates may have changed and you would receive a new quote.
Once you decide to move forward, you will need to provide documentation: proof of income (pay stubs or tax returns), proof of residence (a utility bill or lease), and details about the vehicle (the VIN, purchase agreement, or dealer invoice). If you are trading in a vehicle, bring the title and details about its condition.
Truist will order a vehicle inspection and appraisal if the car is used. This typically takes 3 to 5 business days. Once the inspection is complete and all documents are submitted, Truist will issue a final loan approval and schedule closing. The entire process from process to funding usually takes 5 to 10 business days.
Comparing Truist rates to other lenders
Truist's rates are competitive but not always the lowest available. Credit unions, online lenders, and other banks may offer better rates depending on your credit profile and the vehicle. It is worth getting quotes from at least two other lenders before deciding.
Credit unions typically offer lower rates than banks if you are a member, especially if your credit score is below 700. Online lenders like LightStream, Upstart, and Earnin often approve borrowers with lower credit scores and may offer rates competitive with Truist. Traditional banks like Wells Fargo and Bank of America also offer auto loans with rates in a similar range.
The difference between a 5.5% rate and a 6.2% rate on a $25,000 loan over 60 months is roughly $900 in total interest. Spending 30 minutes to get quotes from three lenders can save you hundreds of dollars over the life of the loan.
Frequently Asked Questions
Can I get a Truist car loan if I have bad credit?
Truist may work with credit scores as low as 620, but rates will be significantly higher than for borrowers with scores above 700. If your score is below 620, you may need a co-signer with better credit. Contact a branch directly to discuss your situation, as approval depends on your full financial profile, not just your score.
Does Truist offer pre-approval for car loans?
Truist does not use the term "pre-approval" for auto loans the way it does for mortgages. However, you can receive a rate estimate online or in person that is good for 30 to 45 days. This estimate is not a may provide, but it gives you a realistic sense of what rate you would receive if you move forward.
What is the difference between Truist's online rate and the rate I get at a branch?
The rate should be the same regardless of where you explore. Truist uses the same underwriting criteria whether you explore online, by phone, or in person. The only difference is how quickly you receive the quote and how much documentation you need to provide upfront.
Can I refinance my Truist car loan later?
Yes. If your credit score improves or interest rates drop, you can refinance your Truist loan with Truist itself or with another lender. Refinancing replaces your original loan with a new one, ideally at a lower rate. There may be a prepayment penalty depending on your loan agreement, so check your paperwork before refinancing.
Does Truist offer special rates for employees or members?
Truist does offer discounts for employees and for customers who maintain certain account balances or have direct deposit set up. The discount is typically 0.25 to 0.5 percentage points off the standard rate. Ask about these programs when you contact Truist for a quote.