Nationwide Auto Refinance Review

Rating: 7 / 10 (Very good)
7 Customer Reviews - see all comments
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Founded in 1926, Nationwide is a leading financial institution that offers a variety of insurance and financial products to consumers across the US. Part of its consumer targeted products include auto loans, and auto refinancing for new and used cars. The company offers an online portal that lets consumers pre-qualify and sign loan documents.

How is Nationwide rated?

Breakdown

3.5/5
Loan Details
3.5/5
Customer Experience

Overall Rating: 3.5 / 5 (Very good)

Auto loans are just a small part of Nationwide's financial services and banking business. Perhaps for that reason, the portion of its website that concerns auto loans feels underdeveloped, especially when compared to companies who specialize in that field. However, there's no denying that Nationwide's financial strength and generally good corporate reputation make it a sound choice for new car, used car, and auto refinance loans.

Auto Loans & Refinancing

Loan Details - 3.5 / 5

Nationwide's auto loan interest rates, loan terms, and minimum and maximum loans are well within industry norms. It should be noted, though, that interest rates in particular are subject to change based on fluctuations in the prime rate and other factors.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Loan Amount
$1,000
Max Loan Amount
$100
Min. APR
2.25%
Max APR
9.75%
Term Length
36 months
Max Term Length
84 months

Loan Refinancing

Min. Loan Amount
$1,000
Max Loan Amount
$100,000
Min. APR
2.65%
Max APR
10.15%
Min. Term Length
36 months
Max Term Length
84 months

Loan Qualifications

Qualification - 3.5 / 5

Insofar as they are now, Nationwide's qualification criteria are squarely within industry norms. However, the company does not publish its FICO score minimums or its income minimum. Prospective borrowers must be at least 18 years old, and citizens or legal residents of the U.S.

Borrower Qualifications

Minimum Age
18 or older
Minimum Income
No minimum specified
US Citizenship Requirement
Yes
Verification / Documents Required
Social Security Number
Account Balances / Payment History
Checking Account Information
Employment Information / Pay Stubs

Vehicle Qualifications

Mileage Limit
150,000
Car Age
20 years
Car Makes
No limits

Application & Service

Customer Experience - 3.5 / 5

Nationwide's website offers customers an auto loan calculator they can use to figure out terms, payments, and affordable loan sizes. As with most other companies in the business, Nationwide prequalifies people for a loan, allowing them to shop for a car with some assurance that they will be able to borrow the money needed to pay for it. Nationwide takes no fees on refinance loans, which puts it ahead of many of its competitors.
Approval Time
Same Day
Fees
No fees
Benefits/ Features
Online Rates / Application
Pre-approval Soft-credit Inquiry
Auto Loan Calculator

Nationwide Reputation & Reviews

Reputation - 3.5 / 5

Nationwide is a large, long-established, and well-respected financial services company. Because of the diversity of its businesses, it's not possible to isolate customer experience data that pertains only to its auto loan business. The company as a whole has an A+ rating from the BBB, but presumably only a small fraction of the reviews and complaints this is based on come from Nationwide's auto loan business.
Number of BBB Positive Reviews
3
Number of BBB Neutral Reviews
2
Number of BBB Negative Reviews
93

Contact & Additional Information

Homepage URL
Company Phone
(877) 422-6569
Headquarters Address
1 Nationwide Plz, Columbus, OH, 43215
Year Founded
1926

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Latest Nationwide Reviews

R
Rick

9/8/2020
So you guys called me when signed up for a vechile here in Canada from your Edmonton branch ? I talked to 2 females where they wanted my pictures of my car and vin # and still no answer they called me to say they found me a hell cat .. and they calling me shortly.. that’s been a week .. and no comment on my car ? Why do they want my car details when they didn’t find me a car ? I’m so pissed cause I missed some really good deals else where .. credit it excellent and almost 4 million dollars in real estate with stocks and bonds 3 vechiles and boats all payed off .... bunch of clowns and flakes


sherna21

6/21/2019
Bad company to do business with. Customer Service is always so rude they always belittle you on the phone and management will not work with you if you are trying to make new arrangements to pay back loan. Do not do business with Nationwide Loans you will regret it.


J
Julia E

11/18/2017
I refinanced my vehicle with Nationwide It was a big mistake. They have sent me several letters saying they do not have the title from Citizens Bank which is an out and out lie. They even admitted they have the title. I also gave them Power of Attorney to obtain the title - twice. They send threatening letters saying they will raise my interest rate to 24.99% if they do not have the title. They have the title but they said I violated my agreement. I make automatic payments, have excellent credit and have never, ever dealt with a company like this before. They sent me a letter recently saying they have raised my interest rate from 3.02% to 24.99%. I'm refinancing my vehicle even if I have... Read More


S
Stephanie

8/31/2017
I fell behind on my loan over the summer because my son killed himself and I'm a teacher (no summer pay). I thought we worked out payment arrangements to get caught up, starting today. Nationwide customer service agents called after arrangements were made on Friday ( two separate female agents called before 9 am this past Saturday --from her personal cell phone-- and 8 am today) irate because my "credit card was no good" when they tried to run a credit card on file. Both times, the agents were told whay was going on and that weren't supposed to run a credit card. Both agents were incredibly combative and rude and refused to allow me to speak with a supervisor or even look at the notes on... Read More


R
Roy

8/22/2017
Refinanced 2 year old car 5 months ago Nationwide came back this month threatening if I did not provide a title they would raise my rate from 2.79 to 24.99. Was given a "one and same letter without Notarial Language. Called and explained notary will not notarize was told would not need to notarize then told to notarize. Completely clueless on auto loans in Texas. Bait and switch tactics. The rudest, ignorant customer service based out of Atlanta. Refinanced with Chase today. Run do not walk away


J
Jason

8/8/2017
I applied for an auto loan online with NationWide Bank on July 12, 2017 and received a confirmation within seconds that I had been approved. I even went so far as to setting up my payment plan and choosing the date the payment would be due each month. But then, all of a sudden, the very next day I received an email requesting they needed additional information to verify my investment accounts and a utility bill to prove my residency bedore they could process the loan. I immediately provided the information to them the very same day. They then said it would take up to 3-4 days until I had a final decision, even though they had already approved the loan. I waited for over a week and heard... Read More


Jeanette S

12/23/2016
I received an offer to refinance my auto loan (5.4%) to as low as 2.69% for 60 months. I had 62 months on my current loan with a payment of $418.75. I was pushed by my husband to apply and see what I could get on a Friday evening. I got an offer of 3.970%, only if I allowed them to draft the payment, or 4.970% if I chose to mail my payment in. Not much of a savings. Not only that, my payment went up to $420.46. My husband and I figured that I would be saving around $1100 dollars of interest. I had finished the loan, because I had a lot of questions. He called for me the next morning, and they explained that I was not eligible for a lower interest rate because I was not financing a... Read More