How to Pay Your Fifth Third Bank Auto Loan
Where and how to make a Fifth Third auto loan payment
Fifth Third Bank offers several ways to pay your auto loan: online through their website or mobile app, by phone, by mail, or in person at a branch. The online and mobile options are the fastest — payments typically post within one business day. Phone payments go through their automated system or a representative, and mail payments take five to seven business days to reach their processing center, so plan ahead if you're close to a due date.
To pay online, log into your Fifth Third account, find your auto loan, and select "Make a Payment." You can pay from a checking or savings account linked to your Fifth Third profile, or from an external bank account if you've set that up. The mobile app (Fifth Third Mobile) has the same payment options and works the same way. If you call, have your loan number and the amount you want to pay ready — their system will confirm the payment before it processes.
In-person payments at a Fifth Third branch are an option if you prefer to hand over a check or discuss your loan with someone face-to-face, though this is slower than online payment and doesn't offer any advantage in terms of when the payment posts to your account.
Key Takeaways
- Online and mobile app payments post within one business day, while mail payments take five to seven days, so use online if you're near your due date.
- You can pay from a Fifth Third account or link an external bank account to pay from another bank.
- Automatic payments (autopay) prevent missed payments and late fees if you set them up through your online account or by calling Fifth Third.
- If you pay late, Fifth Third charges a late fee and reports the missed payment to credit bureaus, which damages your credit score.
- Paying more than the minimum or paying early reduces the total interest you pay over the life of the loan.
Setting up automatic payments to avoid missed due dates
Autopay is the simplest way to ensure you never miss a payment. Log into your Fifth Third account, go to your auto loan, and look for "Autopay" or "Automatic Payments." You'll choose the payment amount (minimum, a fixed amount, or the full balance), the day of the month it should come out, and which account to pull the money from. Once it's set, the payment happens on that day every month without you having to do anything.
If you can't set it up online, call Fifth Third's customer service line and ask them to enroll you in autopay over the phone. They'll need your loan number and the bank account you want to use. Autopay is free and removes the risk of forgetting a payment or miscalculating how many days until your due date.
You can change or cancel autopay anytime through your online account or by calling. If you cancel, you're responsible for making manual payments on time, so don't turn it off unless you have a specific reason.
What happens if you miss a payment or pay late
A payment is late if it arrives after your due date. Fifth Third typically charges a late fee — the amount varies but is usually a percentage of your monthly payment or a flat fee, whichever is greater. The late fee appears on your next statement. If your payment is 30 days late, Fifth Third reports it to the three major credit bureaus (Equifax, Experian, and TransUnion), and that missed payment stays on your credit report for seven years.
A late payment damages your credit score, which can raise the interest rate on future loans, credit cards, and even affect your insurance rates. If you're more than 60 days late, Fifth Third may begin collection efforts or consider your loan in default. If you're 120 days late, they can repossess the vehicle without warning in most states.
If you know you'll be late, call Fifth Third before your due date. Some lenders offer a grace period of a few days, or they may work with you on a payment plan if you're facing a temporary hardship. Calling ahead is always better than ignoring the bill.
Paying more than the minimum to reduce interest
Your minimum payment covers interest and a small portion of the principal (the amount you borrowed). When you pay more than the minimum, the extra goes directly to principal, which means you pay less interest over time and own the car sooner. For example, paying an extra $50 per month on a five-year loan can save you hundreds in interest and shorten the loan by several months.
You can make extra payments anytime through your online account or by calling Fifth Third. There's no penalty for paying early or paying more than required — auto loans don't have prepayment penalties. Some people make a lump-sum payment when they get a tax refund or bonus, or they round up their monthly payment to the nearest $50 or $100.
Before you commit to extra payments, make sure you have an emergency fund in place. It's better to have cash on hand for unexpected expenses than to tie up money in your car loan if you might need it.
Understanding your payment breakdown and loan terms
Your monthly payment is split between interest and principal. Early in the loan, most of your payment goes to interest; as you pay down the principal, more of each payment goes toward what you owe. Your loan documents show your original loan amount, interest rate, and the number of months you have to pay it back. Your statement each month shows how much principal and interest you paid, your remaining balance, and your next due date.
If you're unsure about any part of your statement, log into your Fifth Third account and look for "Loan Details" or "Payment History." You can also call their customer service line and ask them to walk you through your statement. Understanding what you're paying for helps you decide whether to pay extra or stick with the minimum.
Changing your payment due date or payment method
If your current due date doesn't work with your pay schedule, you can request a change. Log into your account and look for "Due Date Change" or call Fifth Third to ask. They typically allow you to move your due date once per year, though some lenders are more flexible. The new due date usually takes effect on your next billing cycle.
You can also switch payment methods anytime. If you set up autopay from a checking account but want to use a savings account instead, go into your account settings and update the linked bank account. If you were paying by mail and want to switch to online, just stop mailing checks and start paying through the website or app.
What to do if you can't make a payment
If you're facing a hardship — job loss, medical emergency, or unexpected expense — contact Fifth Third before your payment is due. Explain your situation and ask about options. Some lenders offer forbearance (temporarily lowering or skipping payments), loan modification (changing the terms), or a payment plan that spreads what you owe over a longer period. These options vary by lender and your specific circumstances, but they exist to help borrowers avoid default and repossession.
Don't ignore the bill or stop paying. The longer you wait, the more fees and interest accumulate, and the closer you get to repossession. A conversation with Fifth Third, even if it's uncomfortable, is always the first step.
Frequently Asked Questions
Can I pay my Fifth Third auto loan with a credit card?
Fifth Third does not accept credit card payments directly for auto loans. You can pay from a checking or savings account (yours or linked from another bank), by check, or in person at a branch. If you want to use a credit card, you'd have to pay the credit card company first, then use that money to pay Fifth Third — which defeats the purpose and costs you interest on the credit card.
How long does it take for a payment to show up in my account?
Online and mobile app payments typically post within one business day. Payments made by phone through their automated system also post within one business day. Mail payments take five to seven business days. If you're cutting it close to your due date, use online or phone payment to make sure it posts on time.
What if I want to pay off my loan early?
Fifth Third auto loans have no prepayment penalty, so you can pay off the entire remaining balance anytime without extra fees. Call Fifth Third or log into your account to find out your exact payoff amount (which includes any interest accrued up to that point), then make a lump-sum payment. Paying off early saves you interest and frees you from the monthly payment.
Can I change my payment amount?
Your minimum payment is set by your loan agreement and doesn't change. However, you can pay more than the minimum anytime — the extra goes to principal. If you want to change your minimum payment, you'd need to modify your loan, which Fifth Third may or may not offer depending on your situation. Call them to ask about loan modification options.
What if I'm deployed or traveling and can't make payments in person?
Online and mobile app payments work from anywhere with internet access, so you can pay while deployed or traveling. Set up autopay before you leave so payments happen automatically, or make manual payments through the app whenever you have access. This way, you don't have to worry about your payment while you're away.