Apply Today
Get 0.25% Off Your Rate
Interest rate discount comes with maintaining automated payment with a PNC checking account.[3]
Lease Buyout Auto Loans
With a vehicle lease buyout from PNC Bank, you can make your ride your own.[1,2]
Have questions? 1-888-370-7344
Check Current Auto Loan Rates*
Key Features of a Lease Buyout Loan
Close the Loan Fast
A check will be sent to the creditor to pay off the existing loan.[4].
How a Lease Buyout Loan Works
Step 1 — Research
Research how much car you can afford by reviewing rates and estimating a monthly payment. Find the accurate value of your car according to J.D. Power here.
Step 2 — Apply
Apply for an auto loan[1] online, by phone or at a branch.
Step 3 — Buy Your Existing Car
Once you close at a PNC branch, a check will be sent to the creditor to pay off the existing loan[2,4].
Reminder: You will be responsible for transferring the vehicle’s title to your name and placing
PNC’s lien on the title.
Click here for more information
PNC’s lien on the title.
Click here for more information
How to Apply for an Auto Loan
Find out what's involved in the car buying process — from the ways you can apply, to a list of what you'll need for your application.
Ways to Apply
At a Branch:
What You Need to Know When You Apply
The essentials:
- The dollar amount that you would like to borrow
- One form of photo ID (driver's license, state-issued ID or U.S. passport)
- Previous address, if at current address less than two years
- Previous employer, if with current employer less than two years
- Your annual income and any other income to be considered
If you are applying with a co-applicant, you will need their:
- Current address and previous, if less than two years
- Current employer and previous, if less than two years
- Annual income and any other income to be considered
Prior to Applying for the Auto Loan:
You will need to obtain the actual purchase price of the vehicle. At that point, you may want to review your vehicle lease contract as well as contact your state Department of Motor Vehicle or comarable agency for additional information around where to go to complete the title transfer, fees, and taxes, and additional information required by your state to complete the title transfer. You are responsible for paying these expenses. You may want to consider including these fees and/or taxes into the requested loan amount.
What You Need to Know After Closing the Auto Loan
Upon closing the auto loan, responsibility falls on you and the leasing company to make the changes to the title. Title could be sent to PNC Bank from prior lienholder. If that happens, you will be contacted by a representative from PNC Bank. They will send the title and all paperwork from prior lienholder to you to get the transfer completed. Additionally, any fees all taxes incurred during this transaction are your responsibility to pay. PNC Bank is not responsible to pay or reimburse you for those fees or taxes.
Additional items may be required: Clean Title, State Department of Motor Vehicle form, Odometer Reading, Proof of Insurance, Notarized Bill of Sale, Copy of Driver's License, Power of Attorney Form, etc. Each state's requirements may differ, recommend contacting your state Department of Motor Vehicle for what is required.
Steps when transferring ownership of title:
1) You need to be listed as a registered owner on the vehicle title.
2) Have PNC Bank be listed as lienholder on the title.
Click here for more information
Servicemembers Civil Relief Act (SCRA)
The SCRA provides financial relief and protections to eligible servicemembers and their dependents. PNC is grateful for your service and we would like to help you understand your benefits and protections under SCRA as well as other similar benefits that PNC may be able to provide to you.
To find out more, please contact us at:
PNC Bank
Servicemembers Operations Center, BR-YB58-01-U
PO Box 5570
Cleveland OH 44101-0570
Learn More
Lease Buyout Explained: Should You Buy Your Leased Car?
When the end of an auto lease period comes up, it's not always a given that you need to trade your wheels in for something new. While there are advantages to trading in your car, there may be benefits to buying your leased car.
4 min read
First Time Car Buyer's Guide: What to Know Before You Buy
Buying your first car can be intimidating. Our guide can help you understand what financing options are available and how apply for a loan.
9 min read
How to Refinance a Car Loan
If you are one of the millions of Americans with an auto loan, you may have considered refinancing your car loan. In this article, you will discover what refinancing entails, situations that may drive you to do so, and how you may benefit from refinancing.
7 min read
Paying Off Your Car Loan Early: Things to Consider
Thinking of paying off your car loan? While there’s the benefit of reducing your debt, take time to assess your personal financial position before making a decision. In this article, we highlight some of the important considerations to keep in mind.
3 min read
When is the Best Time to Buy a Car in 2022?
Timing can be an important factor in the car buying process. Learn when the best time to buy a car is and how timing can impact your decision making.
4 min read
Should I Buy a New or Used Car?
There are many important factors to consider when deciding whether to buy a new or used car. Read more about the pros and cons of each car buying option.
4 min read
Important Legal Disclosures and Information
Credit is subject to approval.
Certain restrictions and conditions apply.
Automated payment must be set up at loan closing from a PNC checking account to qualify for the 0.25% discount. If automated payment is discontinued at any time, you may no longer receive an automated payment discount and your rate will increase 0.25%
-
May exclude weekends and holidays.
*Check Auto Loan Rates: APRs that will display include a 0.25% discount for automated payment from a PNC checking account. The lowest rates are available to well-qualified applicants. Your actual APR will be based upon multiple factors. Refer to “Important Disclosures" under “Get Rates” for more details.
Bank deposit products and services provided by PNC Bank, National Association. Member FDIC
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.
