Buying a car should be exciting, not overwhelming. Still, figuring out how to pay for it can be stressful. That’s where a Synovus auto loan can make things easier.
It gives you the funds you need upfront so you can drive away without draining your savings. In this guide, we’ll explain how these loans work, who can qualify, and how to get the best deal possible.
Synovus Auto Loan Overview
Before exploring the details of Synovus Bank auto loan rates and terms, it’s important to understand who Synovus is and how its auto loan program works for different types of borrowers:
What Is Synovus?
Synovus Financial Corp. is a well-established American bank headquartered in Columbus, Georgia. It has a strong presence throughout the Southeastern United States, serving communities in Alabama, Georgia, Florida, Tennessee, South Carolina, and North Carolina. Over the years, Synovus has built a reputation for combining modern banking services with local, relationship-driven customer care.
In July 2025, Synovus merged with Pinnacle Financial Partners, creating a larger, more competitive regional bank with approximately $116 billion in assets. This merger expanded the bank’s reach, giving it more financial strength and resources. For customers, this means broader service coverage, improved lending capacity, and a wider range of financial products, making Synovus a stable and dependable choice for anyone considering an auto loan.
What Is a Synovus Auto Loan?
A Synovus auto loan is a fixed-rate installment loan created to help you buy a vehicle without draining your savings all at once. You borrow a specific amount from the bank, receive the funds upfront, and repay them in equal monthly installments over an agreed-upon period.
While many people use these loans for cars and trucks, Synovus also offers financing for RVs and motorcycles. This flexibility means you can secure funding for the type of vehicle that fits your lifestyle. Because the payments are fixed, you know exactly how much you owe each month, which makes budgeting simpler and reduces financial surprises over time.
In the banking industry, it’s common for lenders to sell a portion of their loan portfolios to investors. Synovus has done this in the past, including the sale of $373 million in prime auto loans to private equity firm KKR in 2023. While this may sound concerning, it does not change your loan terms or payment process. The sale simply allows the bank to manage its balance sheet and free up capital for new lending. For you as the borrower, your contract and repayment schedule remain the same.
Synovus Auto Loan Rates & Terms
Synovus does not publicly publish detailed breakdowns of specific auto loan APRs online. This means any precise figures will need to be obtained by contacting Synovus directly, such as via a branch visit or speaking with a loan representative.
Synovus calculates your annual percentage rate (APR) using several factors:
- Credit profile: Your FICO score, payment history, and overall credit health play the biggest role.
- Loan details: New or used, total amount borrowed, and the length of your repayment term.
- Discount programs: Autopay enrollment and qualifying bank relationships can reduce your rate.
- Market interest rates: Economic conditions, such as Treasury yields and the prime rate, influence the base pricing.
Before you apply for a Synovus auto loan, it also helps to understand the basic terms and how each part of the loan works:
- Loan amount: Can cover a range of vehicles including cars, trucks, RVs, and motorcycles. The exact maximum depends on factors like your credit profile and the vehicle’s value.
- Fixed payments: Your monthly payment stays the same from your first bill to your last, making it easier to plan your finances.
- Loan term: Terms can vary from a few months to several years. Shorter terms mean higher monthly payments but less interest overall, while longer terms reduce the payment amount but may cost more in interest.
Fee Structure
Currently, there is no publicly available information about specific fees such as origination fees, prepayment penalties, or separate maintenance fees for Synovus auto loans. Most available fee schedules relate to Synovus checking, savings accounts, and CDs, not auto loans.
However, you should be aware of some common auto loan fees below:
| Fee Type | Typical Range / Notes |
|---|---|
| Loan Origination Fee | Usually 1%–3% of your total loan; it may be included in the loan amount or added when you finalize the loan. |
| Prepayment Penalty | Certain lenders may charge if you pay off your loan early, always review your contract carefully. |
| Documentation Fee | Can range from just a few dollars to over $500, depending on the lender and your state. |
| Add-ons (GAP Insurance, Extended Warranty) | These are often optional, but some lenders include them automatically. Compare options before agreeing. |
| Late Payment Fee | Amount varies; could be a set dollar amount or a percentage of your missed payment. |
| Payoff Processing Fee | A fee some lenders apply when you settle the loan balance. Check if this applies to you. |
Contact a Synovus branch or speak with a loan officer for the most accurate, case-specific fee schedule for your Synovus auto loan.
Synovus Auto Loan Requirements
Synovus auto loans are available to borrowers living in the bank’s primary service areas: Alabama, Georgia, Florida, Tennessee, North Carolina, and South Carolina. To be approved, applicants must meet certain baseline requirements:
- Bank relationship: You may need to be an existing Synovus customer, and in some cases, have maintained an account for a set period (such as 12 months).
- Credit approval: Your application will go through a credit review to determine eligibility and interest rate.
- Proof of income and identity: This usually includes recent pay stubs or tax returns, plus valid identification such as a driver’s license or passport.
Meeting these criteria is the first step toward getting funded. Strong credit, stable income, and an established relationship with the bank can all increase your chances of securing a competitive loan offer.
Besides, you also need to collect some necessary documents if you want to apply for a Synovus auto loan. This typically includes:
- Government-issued photo ID (driver’s license or passport)
- Proof of income (recent pay stubs or tax returns)
- Proof of residence (utility bill, lease agreement, or mortgage statement)
- Vehicle details (VIN, mileage, year, make, and model)
- Proof of insurance for the car you plan to finance
Having these ready ensures you won’t face delays once the application is in motion.
How to Apply for A Synovus Auto Loan
Applying for a Synovus auto loan is straightforward, and you can choose the way that’s most convenient for you. You can start by visiting a nearby Synovus branch for in-person support, or begin the process online through their official website.
- Check your credit profile: Start by reviewing your credit reports from the three major bureaus: Experian, Equifax, and TransUnion. You should also know your current credit score, whether it’s a FICO score or a VantageScore, and understand which range you fall into (excellent, good, fair, or poor). This affects both your approval chances and your
Synovus car loan interest rates. - Estimate your monthly payments: Before applying, figure out what you can comfortably afford each month. Use Synovus’s online loan calculators or create a quick spreadsheet. This will give you a realistic view of what your payments will look like and help you avoid overextending your budget.
- Start your Synovus auto loan application: Provide your personal details, such as your full name, address, and contact information. You’ll also need to share your income level and the documents mentioned in the previous section.
- Credit review: Once you submit the application, Synovus will review your credit history and financial profile to determine if you qualify and what interest rate you’ll be offered.
- Approval and signing: If you’re approved, you’ll receive a loan offer outlining the terms, payment schedule, and interest rate. Read it carefully, then sign the agreement to move forward.
- Funding: Synovus will send the funds directly to the car dealer or private seller, so you can complete your purchase without delays.
Once your Synovus auto loan is active, you’ll receive monthly statements showing your remaining balance, payment due date, and any interest charged. Setting up automatic payments can help you avoid missed due dates and late fees.
If you choose to make extra payments, they will typically go toward your loan’s principal balance, helping you pay off the debt faster and reduce the total interest you owe. Just check your loan agreement to confirm there are no early repayment penalties.
Refinancing with Synovus
Refinancing can help you lower your monthly payment or reduce the total interest you pay. Consider Synovus auto loan refinance if:
- Your credit score has significantly increased since you first took out the loan. And having better credit may help you get a lower interest rate.
- Market rates have dropped since your original loan date. You will eventually pay less in interest if the rate is lower.
- The savings outweigh the costs. Some lenders charge fees for refinancing, so make sure your total savings exceed any added expenses.
Keep in mind that Synovus, like many lenders, has limits on the age, mileage, and remaining balance of vehicles they will refinance. Always run a payoff comparison to see how much you’ll actually save before moving forward.
Synovus Auto Loan FAQs
Does Synovus offer loans for used cars?
- Yes. You can finance both new and used vehicles with Synovus. The loan terms depend on the car’s age and condition.
Can I refinance my current car loan with Synovus?
- In many cases, yes, if your car meets the bank’s requirements for age and mileage. Make sure to compare the total cost to see if refinancing will save you money.
Where can I get a Synovus auto loan?
- Synovus mainly serves customers in Southeastern states like Alabama, Florida, Georgia, Tennessee, North Carolina, and South Carolina. Check if loans are available in your area.
How long does it take to get approved for a Synovus Bank auto loan?
- Approval time varies, but many applicants receive a decision within 1–3 business days once all documents are submitted and the application is complete.
Is there a minimum loan amount for Synovus car loans?
- Yes, Synovus typically requires a minimum loan amount of around $2,500, though this may vary slightly by state and vehicle type.
Can I pay off my Synovus loan early without a penalty?
- Yes. Synovus generally does not charge prepayment penalties, meaning you can pay off your loan sooner without extra fees. Always confirm this with your specific loan agreement.
If you’re in the Southeastern U.S. and need a reliable loan, a Synovus auto loan is a solid option. With fixed payments, local support, and a merged structure via Pinnacle behind it, they bring both stability and accessibility. Remember to check your credit, compare rates, ask for pre-approval, and negotiate smartly. That means you drive off with confidence and a great car loan.
