Fifth Third Bank Car Loans

We had a loan on a motorcycle, and decided to sell it. First, they would NOT give us a payoff amount, just the balance. They were asked by us, and the credit union that the buyer was using. Second, the credit union would not give us the difference in the sales price versus payoff, so they sent the entire amount to 5/3. I called 5/3 a week later, they still didn't have the account paid off. I called again a few days later, the loan was then paid in full. I asked when they would be sending us the difference, They said they had to send it to whomever paid it off...? I called the credit union, they were told the money would come to us. I called 5/3 back. I told the rep what had happened, and made them verify that the money was coming to us. They said, yes, it would come to us, but only after 10 business days. Yesterday was the 10th business day. Called them today. Was told that it was NOW 10 days AFTER the account had closed, and THE ACCOUNT WAS NOT CLOSED. They "just didn't know why it wasn't closed. Now I have to wait for them to close the account, and ANOTHER 10 business days before they will cut the check - they are a bank, but can't wire the money to me, after all their mistakes. So now it will 7 1/2 weeks since we let the motorcycle leave with the buyer, and still don't have our money. This is the WORST experience I have EVER had with a bank or lender.

This bank clearly does not put customer service top of mind. I have made every car payment on time for the last 3 years except for last month where I mistakenly forgot to pay. No reminder emails but after 7 days I received 18 calls within a 48 hour period and never leaving a message or identifying them as the company. When I did pay, the calls kept coming and I finally answered and connected that the bank had been calling me and after I informed the customer service rep I paid 24 hours ago she said that the system did not register it. I get frequency of calls if I was a month late however a week is just plain terrible. I am looking into switching my loan but I don't suggest you go with this company for any type of loan.

I would not recommend this bank to my worst enemy. They have completly let me down over and over again. I had a vehicle loan through them, with a balance of over 35k. I refinanced the loan through a local credit union, who sent the payoff check to them, and they cashed on 10/27/20. Today is 11/17/20, and they still have to pay the loan off, or release the title. I have spent over 6 and a half hours on the phone with them over the last week, for them to tell me that they are working on it, and it may be a couple of more days. But they sure are charging me late fees. DO NOT FINANCE WITH THEM.

Fifth third is truly my favorite finance company. The experience has been great! As my credit improved, the lowered my interest rate which was a total surprise.

Fifth Third kept putting negative credit reports on me as after my car was a total loss. The insurance company mailed the money to the wrong address. My pay history up to the wreck was exemplary! Always on time, and always paid extra toward the principle balance! I was unaware of gap insurance when I purchased it, did not get it and was never offered it. Therefore I had a balance after the final insurance pay off. I had to buy another car, so it was/ is extremely hard to make two car payments in one month. Especially during the pandemic and only working part time hours if I was lucky. Now, because of Fifth Third, my last pay off payment, was late. I called on the last day I could make the payment on time, and waited on the phone, in cue. The call was answered at 4:03pm Central time, my time and 5:03 Eastern Time. They left me in cue, therefore it forwarded my call to the answering service! The service said the office was closed til the next Monday, making my LAST PAYMENT IN FULL late again! Another negative hit on my credit! I will NEVER use Fifth Third Bank for any banking EVER AGAIN!

Fifth Third is amazing. we've been very happy with them. The car loan has been a blessing and were so very glad to have been accepted.

Should be a 0 stars. Could not process online payments. First, was told by dealership they could take credit cards. That is a no, but that is on the dealership, Showcase Honda in Phoenix. Next, I called to verify my routing and account numbers with Bank of America were good, told yes. Used them to make payment on 10/13 the same day. Called 10/16 to verify they received and I was told yes, but will show on my BOA in 2-3 days. Called again on 10/20 because it was still not showing and was told don't worry, we received the funds. Because it is a large amount it may take a few more days. I checked today on 10/28 and its been reversed. Called to verify and was told by one that they never received the payment, and by another that it was a bad routing number I need a different one.

If it is an issue for routing - why did the first person on 10/13 say it is fine, and the other 2 never saw an issue.

For the payment - Why do you not notify me that it was a bad payment, or the other two reps not tell me. Charging me daily interest at a high rate on $15k adds up to $130+ because of their incompetence. Rushing to pay this off ASAP.

Also, my down payment on 9/7 for a few thousand is still not showing. They will say within 45 days it will be processed, but that is not true as it has been 51 days now. Do not know if that is the bank or dealership. Finance through your own bank.

I have never been so insulted. I just recently purchased a brand new 2020 Heavy Duty Ford pickup truck. Not a cheap one. The dealership on my behalf of course applied for financing. One of the financial institutions which they contacted was 5/3 Bank. My application was denied. 5/3 stated via a letter sent to me that I was denied because of credit score, loan/income ratio and amount of open loans and length of time the aforesaid loans have been active. Credit score was 864. Apparently they did not check my bank balances, ie, savings, investments etc. They would have discovered that I have enough capital to have purchased several of these trucks, but I chose to finance primarily because I am still full time employed and it's better to keep money in capital and make a payment when it's feasible. Needless to say I did get my new truck financed through Bank of America, a good lending institution. I also would like to mention that I had used 5/3 bank many years ago and paid off two vehicle loans. Really, is that how they treat former customers. This review is based solely on facts and I'm not trying to defame the banks credibility, however I would advise not to consider 5/3 for your lending needs.