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Comerica Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 5 Sep 2023
Fact checked

A quick review of Comerica auto loans

Comerica Bank logo
If you’re after an adventurous ride or a family-friendly trip, Comerica Bank has different financing options you can pick from. You can lock in funds for pre-owned and new autos, RVs, campers, boats, jet skis, and more. Plus, the bank offers business solutions to car dealers.

Want to see what a Comerica Bank auto loan will cost? Try the Comerica auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key Comerica Bank auto loan features

  • Minimum loan amount: $2,500 for 36-72 months on 2021-2022 models.
  • Maximum loan amount: $100,000 for 36-72 months on 2021-2022 models.
  • Interest rates: Undisclosed.
  • Loan terms: 12 to 72 months.
  • Loan fees: Undisclosed.
  • Discounts: Undisclosed.

COMERICA LOAN OPTIONS

New and used auto loans

Comerica has pre-owned and new car loans with flexible rates of up to 72 months for auto affordability. For 2021 to 2022 models, you can finance from $2,500 to $100,000 for 36 to 72 months. Meanwhile, you can fund 2015 to 2021 models from $2,500 to $100,000 for 36 to 60 months.

Boat and watercraft loans

And if you want a ride for your water activities, Comerica Bank also provides loans tailored to boats, jet skis, and other watercraft. You can fund from $5,000 to $500,000 and choose a flexible term of up to 180 months.

Recreational vehicle loans

You can also apply for affordable used and new RVs, campers, travel trailers, ATVs, and snowmobiles. With this loan, you can get funds ranging from $5,000 to $250,000 and finance your vehicle for up to 180 months.

Comerica auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

Change
Comerica

Comerica auto loan

Comerica auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Comerica auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a Comerica Bank auto loan

Eligibility criteria

Though Comerica doesn’t list the requirements for auto financing, you typically need to:

  • Be 18 years old or legal to apply for vehicle financing
  • Be employed or have a steady source of income

Checking your credit score can also give you a head start. Through this, you can identify areas of improvement and boost your score to qualify for more ideal rates, terms, and overall offers.

What you’ll need to have ready:

When you apply for auto financing with Comerica, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status
  • A list of monthly expenses

You may need to provide Comerica Bank with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

Comerica needs additional information on your vehicle, too. If you’re refinancing, ensure you know the vehicle’s model, manufacturer, year, trim, and mileage.

Ways to apply for a Comerica Bank auto loan:

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 800-589-1400

Additional Comerica auto loan details

  • Automatic payment: Available.
  • Loan approval times: Undisclosed, but banks may take a day to a few weeks depending on your application.
  • Rate discounts:Possible lower interest rates for applicants with excellent credit scores.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: Undisclosed.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Ways to repay: Web banking, mobile app, and in-person.
  • Hardship program: Available. You can call 800-360-6713.

Vehicle restrictions and limitations

  • Maximum vehicle age: Unspecified. But usually, banks limit vehicles to 10 years.
  • Maximum vehicle mileage: Unspecified.
  • Other vehicle restrictions: Unspecified.

PROS AND CONS

Pros

  • Competitive maximum loan amount ($100,000).
  • Flexible terms stretch up to 72 months.
  • Different loan types: Auto loans, recreational loans, and boat and watercraft loans.
  • High credit scores may have lower annual percentage rates (APR).
  • Co-applicants allowed.
  • Several vehicle types: New and used cars, motorcycles, motorhomes, campers, boats, ATVs, snowmobiles, jet skis, and other watercraft.

Cons

  • Collateral must be located in AZ, CA, FL, MI, or TX.
  • Undisclosed interest rates online.
  • Borrowers with low credit scores may receive higher APRs.
  • Unspecified auto loan fees.

Frequently asked questions

How can I contact Comerica Bank about my car loan?

If you have an existing auto loan with Comerica, you can dial 855-451-9201. But if you want to know your loan offers and apply, you can contact a Comerica representative at 800-589-1400.

What credit score is needed to get an auto loan?

Though Comerica Bank doesn’t set the standard credit score, showing an excellent score can help you qualify for lower rates and flexible terms. In general, a score above 660 can give your application a leg up. If your score is below 620, you may still qualify for vehicle financing. But remember that your application is subject to credit approval.

Does Comerica refinance auto loans?

Yes. You can refinance your current vehicle loans to get more favorable rates and terms.

Are Comerica Bank car loan interest rates fixed or variable?

Comerica offers fixed-rate auto loans for up to 72 months.

What information do I need to provide when applying for Comerica vehicle finance?

When applying, the bank will ask for your personal and contact details. Other than these, you need to provide information on your income, employment, and expenses. Depending on your loan, you may also need to indicate details about the vehicle (make, year, model, and mileage).

What is the maximum length of a Comerica Bank auto loan?

You can finance your auto loan for up to 72 months based on your creditworthiness, collateral, and loan amount.

Video: Comerica loan management

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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