M and I Bank
Auto Loans

M and I Bank offers excellent auto loans for A+, A, B and very upper level C tier credit customers.

Although they have an overall excellent auto loan program, they may not always be your best option. You may want to save yourself the unnecessary credit inquiry and look elsewhere.

Let's take a look and see if you'll qualify for their best rates and if their program will be tops for you.

Here's what you'll find below:

The following sections are based on my dealership experience with M and I Bank and may not accurately reflect what you as a direct consumer may experience, but should be close.

For auto lender rate comparison visit: Current Auto Loan Rates

The following sections are based on my dealership experience with M and I Bank and may not accurately reflect what you as a direct consumer may experience, but should be close. For more info please read my disclaimer

Close Disclaimer

I am not affiliated with M and I Bank and do not get paid to refer customers to their site. I also do not hold a grudge against M and I Bank and did not build this page to discourage anyone from using their services.

I assume no responsibility for the accuracy of the information on this page and it should be used for general informational purposes only. Any information pertaining to auto lenders and/or their auto loan guidelines is based on information, rates and terms that can change at any time.

Although, every effort is made to keep this information current, I can make no guarantees as to the accuracy of any of the auto lenders information reviewed on this site.

It is strongly recommended to check directly with the specific auto lender for their current program guidelines and available rates.

In addition, certain restrictions may apply to certain available auto loan programs, again please see lender for details.

There are many variables that may affect your auto loan approval (your approvals rates, terms, restrictions, etc.) and/or turn down, such as, but not limited to:

* Credit score* credit history* age of vehicle* miles on vehicle* type of vehicle* state of residence* term of the loan* loan structure
and/or* whether the loan is secured direct from lender or indirect from the dealership.

Who They Loan Too -
Credit Criteria and Credit Scores

As mentioned above, M and I Bank loans to A+, A, B and very upper level C tier credit customers.

In order to qualify for their program, customers need a minimum FICO score of 640.

They are definitely an auto lender that caters to better credit customers. Even if your score is above 640, they will want to see a relatively strong credit history.

They have four tier levels:

  • Tier 1+ = 740+ FICO scores
  • Tier 1 = 690 - 739 FICO scores
  • Tier 2 = 670 - 689 FICO scores
  • Tier 3 = 640 - 669 FICO scores

FICO score doesn't guarantee an approval with M and I Bank and other restrictions will apply, i.e. overall credit history, loan structure, etc.

M and I Bank
Auto Loan Structures

When a dealer is sending a deal to them, they are looking for the loan to value to be a max of 105% plus TT&L and approved back end products:

  • Extended warranty
  • GAP insurance
  • Credit life insurance
  • Disability insurance

The 105% is the loan to value based on a new cars MSRP, Kelley blue book retail or NADA retail, if used.

Using MSRP or the retail value of a vehicle can be extremely beneficial for customers with little to no money down and possibly rolling over negative equity from a trade in vehicles loan.

To qualify for max advance of 105% +++, you'll need to have a credit score of 740+ and can not finance for over 63 months.

An example, if a vehicle had a $10,000 retail blue book value, then they would be willing to loan $10,500 (105%) plus TT&L, plus the extras from above.

105% may not seem like a whole lot to loan, but keep in mind this is a percentage of the retail value and not the wholesale value, which most lenders use.

This is a great benefit, and is actually pretty strong on M and I's part, to customers looking for no money down auto loans and/or are having to roll over negative equity from a trade in vehicles loan.

I have not run into any loan to value restrictions (as I have had with many of my other auto lenders) for large trucks or SUV's. This is a huge benefit over other lenders.

No matter what type of vehicle you are looking to buy, just keep in mind that the longer the loan term the smaller the loan to value they will allow.

When I visited M and I Banks website, I noticed that they did not post rates for auto loans and this leads me to believe that they offer their most competitive rates through car dealerships.

They may also offer additional discounts to their Bank Auto Loan Rates like:

  • .80% rate reduction for loan to value less than 75% (before TT&L and back end products) of retail

  • .40% rate reduction for loan to value less than 90% (before TT&L and back end products) of retail

  • .25% rate reduction for loan terms less than 48 months

  • .10% rate reduction for amounts financed over $35,000

M and I Bank
Guidelines and Restrictions

Vehicles That Do Not Qualify

  • Vehicles with over 95,000 miles.
  • No salvaged, rebuilt, hail damaged or branded title vehicles.
  • Other vehicle restrictions may apply, but this is all the information I have available.

General conditions

  • Only licensed for auto lending in AZ, GA, IN, MI, MN, ND, TN and WI.
  • Allows 90 days to first payment. Rate increase may apply.
  • Business loans available with co borrower.
  • Term of loan dictated by credit score and vehicle mileage.
  • No age limit for vehicles, but see mileage restriction above.

M and I Bank
Customer Service and Payoffs

If you're looking for some quick contact information, here you go:

General M and I Bank Customer Service and To Apply For A Loan

24 Hour Payoffs

Summary of
M and I Bank Auto Loans

All in all, M and I offers some excellent rates and terms for new vehicles. If you are able to get approved in the mid - upper 4% to low - upper 5% range, you can feel confident you are getting a very competitive rate.

I can personally say that they have been my #1 lender in recent months due to some of the benefits listed above.

They are a great lender if you've got excellent credit and are buying or have:

  • An older vehicle, as long as the miles are within 95,000 miles

  • High debt to income ratio (using their Fast Lane program, dealer only)

  • To roll over negative equity from a trade in vehicles loan


  • Want to put no money down

You can access the M and I Bank website here. Don't forget to bookmark this site so that after you get your approval you can learn some very valuable time and money saving car buying tips.

Their rates are also very good for used vehicles with the right credit and loan structure. If your credit is lacking and/or you plan to borrow as much as possible against the value of the vehicle, you may want to look elsewhere.

As for their private party and lease buyout rates, I'm not too sure what they offer, if they offer anything at all.

The M and I Bank website does not reflect anything regarding these two items and I do not offer either service at the dealership I work for, so I don't know if they compete in these areas.

Return from M and I Bank to Auto Loans main

Return to Insider Car Buying Tips home

Share this page:
Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.