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Auto Loans

[CAUTION] Wells Fargo Dealer Services // Expect To Be Screwed…

By Mark Huntley, J.D.

Real estate investor, lawyer, personal finance writer, and Co-Founder of Credit Knocks

Advertiser Disclaimer - Some links on this page may pay us advertising fees.

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You can finance a new or used car through Wells Fargo Dealer Services. But doing so will probably cost you money and maybe even your sanity.

Who Is Wells Fargo Dealer Services?

In 1852, Henry Wells and William Fargo founded Wells Fargo to provide banking services to miners of the California gold rush.

It’s evolved over time into a large banking institution that serves over 70 million customers with banking, credit cards, and loans.

Wells Fargo along with Bank of America, JPMorgan Chase, and Citigroup makes up the “Big Four Banks” of the United States. 

Wells Fargo Dealer Service is one of many programs the bank offers. 

However, you cannot get a Wells Fargo Auto Loan directly from Wells. 

To use the Wells Fargo Dealer Services you will have to purchase a car from one of the many dealerships that offer Wells Fargo car loans. 

The DOJ also got a settlement from a Wells Fargo Dealer Services Lawsuit where they were illegally repossessing service members cars. These guys really suck.

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Easy, Lowest Interest Car Loans

Don't get run over by dealer financing, get pre-approved for an auto loan today. 

Application is quick, easy, and free.

How Do Wells Fargo Dealer Services Work?

Until the middle of 2019, Wells Fargo offered a variety of auto loans you could apply for directly through them.

Recently, however, Wells Fargo became an indirect auto lender. So what exactly does this mean?

If you want to apply for an auto loan, you’ll have to turn to one of its partner dealerships.

Currently, Wells Fargo partners with more than 11,000 dealerships that take care of the financing process on their behalf.

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These dealerships are basically middlemen that Wells Fargo trusts with their auto loans.

If you’re interested in refinancing your auto loan, you can apply through Wells Fargo directly.

Otherwise, you’ll have no choice but to go through a partner dealer.

Since the bank doesn’t list its partner dealers on its website, you might want to pick up the phone and call 1-800-289-8004 to speak to an auto loan specialist.

They can inform you of which nearby dealers they work with. If you live in one of these states, you’re out of luck because WellsFargo Dealer Services does not service them. 

  • Alaska

  • Arkansas

  • Hawaii

  • Louisiana

  • North Dakota

  • Washington D.C.

Once you visit a partner dealer, you’ll have to provide information such as your:

  • Social Security number

  • Current and previous addresses

  • Employment history

  • Proof of income

You’ll also have to state the VIN, year, make, model, and mileage of the new or used vehicle you want to buy.

Auto Credit Express Tools

Before you start your application process, I recommend you check out some of the tools offered by Auto Credit Express to get a better idea of how much loan you may qualify for and what the costs would be.

WellsFargo Dealer Services (Basics)

Loan Terms: 12 to 72 months

Loan Amounts: Between $5,000 and $300,000

Loan Rates: Depends on your credit and your debt to income ratio 

Loan Fees: $99 origination fee

Since you have to go through a dealership to take out a new or used auto loan with Wells Fargo, you won’t be able to find out your rate and terms in advance.

You’ll have to physically walk into a dealership and apply to find this information out. 

If you’re expecting a good interest rate, understand that Wells Fargo Dealer Services may let you down.

Here’s why: Dealers often negotiate higher rates so they can keep the difference and make some money.

Quick Tip:

FICO allows you to shop around for the best auto loan rates for 30 days after your first inquiry. During this grace period you can apply for an unlimited number of auto loans without any additional inquiries being recorded to your credit file. 

This is no surprise as nobody wants to work for free and handle financing without getting something in return. 

So you’ll probably pay way more than you need to if you opt for Wells Fargo Dealer Service.

Chances are you’ll be able to lock down a lower interest rate and more favorable terms if you go with a bank, credit union, or another lender instead.

Wells Fargo Dealer Services Calculator

Wondering how much your monthly payments may be if you move forward with WellsFargo Dealer Services?

There’s a Wells Fargo Auto Loan Calculator that’s designed to help. You can also use it to determine the overall cost of your loan. 

Since you won’t be able to get preapproved beforehand and get an idea of what your interest rate will be until you visit a partner dealer, you may find this calculator to be kind of useless.

Checking Current Wells Fargo Auto Loan Rates

First you want to check out the interest rate chart; we put this one below to give you an idea of what the chart looks like, you should be sure to click here to see current Wells Fargo Car Loan rates. 

Wells Fargo Dealer Services Reviews

If you browse various review sites like Yelp and Google, you’ll find plenty of reviews on Wells Fargo Dealer Service.

Unfortunately, almost all of them are negative.

Most customers are unhappy with their auto loans and wish they would’ve chosen an alternative option.

Let’s take a closer look at what some reviewers had to say. 

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As Alex F. pointed out, you can expect a sky-high interest rate, especially if you don’t have the best credit.

This can cost you hundreds or even thousands of dollars over the life of your loan.

Chances are you’d rather put that money toward retirement, college, travel, or just about anything other than interest for your car loan. 

wfds, dealer services wells fargo

Alex E. is one of the countless reviewers that was disappointed by the customer service.

So if you don’t want to deal with poor customer service, a confusing website, and surprise fees, you may be better off with another auto lender.

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Easy, Lowest Interest Car Loans

Don't get run over by dealer financing, get pre-approved for an auto loan today. 

Application is quick, easy, and free.

Wells Fargo BBB Better Business Bureau Reviews

Wells Fargo Dealer Services has had a file with the BBB since 2009. 

Rating: F

# of complaints: 3,164

Accredited: No

Business since: 4/14/1999

# of customer reviews: 395

Customer rating: 1 star

Most of the BBB complaints are from customers who are frustrated because Wells Fargo continues to collect loan payments from them, even after they’ve paid off their accounts.

There’s also a lot of talk about surprise fees that were not included in their contracts. 

It’s pretty clear that the company has better things to do than respond to these negative reviews as most of them have been ignored.

No wonder they earned an F rating and 1 star rating by customers. 

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Taking Action On An Auto Loan

Hopefully, you found this Wells Fargo Dealer Services Review helpful because getting an auto loan from the wrong bank can be bad.

We've spent hundreds of hours reviewing the best auto loan companies to ensure you get the right terms and rates. 

You may also be interested in reading our Wells Fargo Personal Loan Review

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Additional Resources


Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval. Discrimination based on gender is absolutely forbidden. Whether the loan is for her or for him, you should receive the same terms. 

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