Regions Bank auto loans: 2025 review

Regions Bank is best for large loans

Regions Bank offers auto purchase loans and auto loan refinancing for its borrowers, with large loan limits up to $125,000. It also gives you the option to borrow as much as 130 percent of the car’s value, and there is a discount on qualifying EV loans. That high limit, flexibility with the loan-to-value ratio and reduced rates on EV loans mean that you can work with the bank to finance a very expensive vehicle, closing costs and all.

Types of car loans that Regions Bank offers

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 $125,000.

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. Most lenders charge for this coverage.

New and used auto loans

Regions Bank allows for a high loan-to-value ratio — up to 130 percent on private party purchases and 130 percent on those from dealerships. But while borrowing extra can be useful for covering titling, taxes or other expenses, borrowing more than your vehicle is worth can increase the chance of becoming upside-down on your car loan.

Auto loan refinancing

Regions does not provide much information about its auto loan refinance rates. 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 whether your loan qualifies, you can contact Regions either online or by visiting a branch.

Where Regions Bank stands out

• High maximum loan amount. You can borrow up to $125,000 in a single loan, with a maximum LTV of 130 percent, giving you a lot of flexibility.
• Autopay discount. Setting up automatic payments from a Regions checking account will save you 0.25 percent off your interest rate.
• Offers EV auto loans with a discounted rate. The lender offers interest rate discounts for auto loans used to purchase electric vehicles.

Where Regions Bank falls short

• Limited state availability. Auto loans from Regions are only available in 15 states, mostly in the South and Midwest.
• No prequalification. The only way to see if you’re eligible and get a sense of the cost of a loan is to submit a full application.
• Restrictive used car requirements. You can only use a Regions auto loan to finance a used car that is no more than 7 years old and that has fewer than 90,000 miles. Some other lenders set higher limits, such as 10 years and 100,000 miles.

Regions Bank customer resources

Customer support

Regions Bank offers support through phone and secure online message. You can get assistance by phone six days a week. Hours are Monday through Friday, 6 a.m. to 7 p.m. CT and Saturday from 8 a.m. to 2 p.m. Bankers are available 24/7 via secure message to answer questions or address concerns. 

Digital experience 

Customers can use the mobile app to manage their accounts while on the go. It’s accessible on Google Play and the App Store. Reviews are overwhelmingly positive on both platforms, with ratings of 4.6 and 4.9 out of 5 stars, respectively.

How this lender compares

Regions Bank vs. Fifth Third Bank

Fifth Third Bank is a Cincinnati-based bank that also offers auto loans and refinancing on new and used vehicles. Like Regions, it only offers loans in a small selection of states, mostly in the Southern and Midwestern U.S. However, it partners with dealers to offer indirect loans in other states.

Fifth Third doesn’t specify the interest rates offered on its auto loans, but they do offer bad credit auto loans. If you can qualify, you may receive a lower rate with Fifth Third. Where Regions Bank excels is in loan amounts. You can borrow up to $125,000 from Regions compared to Fifth Third’s relatively low $80,000 limit.

Regions Bank vs. Bank of America

Bank of America is one of the largest banks in the United States and offers auto loans in all 50 states. Its preapproval period is a standard 30 days so you can shop as you need — Regions doesn't specify how long its preapproval period is, or it if offers one at all.

However, Regions Bank does has a lower minimum loan amount and lower minimum interest rate, which may be useful for people who want to buy a cheaper used car. Bank of America’s auto loans start at $7,500. 

Do you qualify for a Regions Bank auto loan?

Regions Bank doesn’t publicly disclose its income or credit requirements, so it can be hard to know if you qualify for a loan without contacting the bank or submitting an application.

It does publish some requirements for used car financing, but these relate to the vehicle rather than your financial profile. To qualify for used car financing or refinancing, the vehicle must:

• Be no more than 7 years old.
• Have fewer than 90,000 miles.

You must also live in one of the 15 states Regions Bank serves.

How Bankrate rates Regions this lender