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      August 4, 2015
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Finding an auto loan is no longer limited to what your current bank will offer or what the dealer brings to the table. You can take control of your next auto loan terms by shopping online for the best deal available. Several auto loan companies post the most competitive auto loan rates online to attract your business.

Get Your Auto Loan With CARCHEX Today! In today's economy, may people have less than perfect credit. Many companies offer car loans to those who have suffered bankruptcy, late payments or a low credit score. By researching and finding the best auto loan, you'll potentially save hundreds to thousands of dollars each year in payments and interest over other auto loans.

However, not all auto loan companies are the same. Before you apply for your next auto loan, consider the following important factors:

  • History. Does the auto loan company have a history of pleasing the customer and using quality business practices? How do they rank at the Better Business Bureau?
  • Focus. What type of auto loans do they offer? Are their auto loans geared for all levels of credit?
  • Application Process. What is the process of applying for the auto loan?

TopConsumerReviews.com has reviewed and ranked the best Auto Loans available today. We hope these reviews help you find the most affordable loan available for you!

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.

2015

Auto Loans Reviews

5 stars
CARCHEX

CARCHEXTopConsumerReviews.com Best-In-Class Blue Ribbon Award

CARCHEX provides excellent options for borrowers looking to finance or refinance their auto loan. In addition to auto financing and refinancing, CARCHEX also offers vehicle inspection services, auto warranties, car buying tips, and more. Their website is easy to use and they've earned a strong BBB rating for their services. They earn our highest rating. Read More... Visit
Site

4.5 stars
Lending Club

LENDING CLUB

Lending Club provides personal loans that can be used for auto loans in the amount of $1,000 to $35,000. They also may offer more affordable lending rates than a traditional auto loan. Lending Club is a leader in facilitating personal loans between borrowers and individual lenders. Read More... Visit
Site

4.5 stars
Road Loans

ROAD LOANS

Road Loans has built a top-notch website that streamlines the car loan process. They've been in business over 10 years and support flexible financing for a full range of credit scores. If you're in the market for a car loan, Road Loans is an option you should consider. Read More... Visit
Site

4 stars
Automotive

AUTOMOTIVE

The Automotive website is well organized, educational and informative for anyone in the market for a new car. During your search for also apply for a loan online - to be matched with a number of available lenders. Read More... Visit
Site

3.5 stars
Auto Credit Express

AUTO CREDIT EXPRESS

Auto Credit Express specializes in bad credit car financing. The easy application process and available tools make Auto Credit Express the go-to website for those with damaged credit. Read More... Visit
Site

3 stars
Prosper

PROSPER

Prosper offers personal loans for cars via bank and individual lenders. For those needing a non-traditional car loan or prefer that flexibility of a personal loan option this is one option to consider. Read More... Visit
Site

3 stars
Springleaf Financial

SPRINGLEAF FINANCIAL

Springleaf Financial has a long history of providing personal loans to individuals. They've earned a strong BBB rating, but the website lacks details we think should be there. We also found some reports of high interest rates and fees. Read More... Visit
Site

2.5 stars
USAA

USAA

USAA provides auto loans to military personnel and their families. Issues with the website layout and customer complaints at the BBB brought some concern.
Read More... Visit
Site

1.5 stars
Web 2 Carz

WEB 2 CARZ

Web2Carz is a busy and unappealing website. Many of the car loan navigation buttons were not functioning during our review. We recommend you use a higher ranked auto loan company for your needs. Read More... Visit
Site

What You Should Know Before Getting An Auto Loan

Buying a new vehicle can either be an exciting experience, or one that stresses you to the max. For some people, it can even be a combination of the two. Sometimes people get caught up in the excitement of buying another vehicle, and find themselves being talked into more than they can reasonably afford. And once the deal is done, it’s hard to undo it.

Rushing into buying a new or used vehicle is never a good idea. Unlike other investments, such as real estate, vehicles are a very poor investment. They begin to depreciate in value the minute they are driven off the dealer’s lot, and continue to lose value for every year of ownership. However, for most people, vehicles are a necessity in order to get to work and other places they need to go. If you are lucky enough to live in an area with stellar public transportation, a vehicle is something you likely can do without. But for anyone living outside the reach of decent public modes of transport, a vehicle is a necessary evil.

Before buying any vehicle, whether new or used, shoppers should consider a few things.

First and foremost is to determine affordability. How much vehicle can you reasonably afford to own without going broke in the process? As a general rule, buyers should not spend more than 20 percent of their monthly income after taxes on a vehicle. If you are spending more than that, you risk overextending yourself financially and running the risk of ruining your credit report.

To estimate how much of a monthly payment you can afford, be sure to look at more than the purchase price of the vehicle. You must also factor in the interest rate, maintenance fees and insurance for the vehicle. All of these things should be considered under the 20-percent umbrella rule.

Consumers also should do some hefty research on the best way to secure financing if they are unable to cover the full cost of the vehicle’s purchase price in cash. One of the best places to look for an auto loan is through online auto loan companies. Some of these businesses have access to a large number of loan companies and can automatically compare their auto loan rates, delivering only the best ones to you.

Some websites also provide a valuable tool when researching loans and interest rates. Consumers are able to use prediction software to plug in their local zip code and generate a list of the going interest rates in their area. Some online calculators also will take all of the factors involved in owning a vehicle – purchase price, insurance, maintenance and financing – and generate a monthly cost for you. It’s always good to make use of these kinds of resources to be certain you’re not overextending yourself financially.

Another place to look for an auto loan is with your own financial institution. Having a solid financial history with a bank can help to secure a good deal. With longstanding customers, a bank may be able to negotiate a fair interest rate for you, and certainly better than what you could find through the car dealer.

Securing a loan through the auto dealer is usually not the best idea. It usually is the most expensive option when it comes to financing. While auto dealers may have a variety of financial institutions to tap in order to get a variety of interest rates and offers, they also are permitted to add up to a 3-percent fee on to the total in order to compensate themselves for securing the loan. So as a general rule, auto dealers should be the last place you look for a loan.

 

 

 

American Century Investments Expands its Liquid Alternative Capabilities and Launches the AC Alternatives Brand
New alternative investments options are designed to meet the ever evolving needs of clients.
Publication Date: August 03, 2015

GrooveCar Partners with Affinity Federal Credit Union
Auto buying resource for credit unions continues growth pattern
Publication Date: July 29, 2015

Kim Lynn Promoted to SCCUs Vice President of Operations
After 15 years of service at Space Coast Credit Union, Kim Lynn was promoted to VP of Operations. Over this time period, she advanced her career as the credit union itself experienced tremendous growth.
Publication Date: July 15, 2015

First Associates Loan Servicing, LLC Names Stephanie Jimenez as Vice President of Servicing Operations
Dynamic executive brings more than 25 years of operations management experience in financial services industry to rapidly growing loan servicing company
Publication Date: July 30, 2015

First Associates Loan Servicing, LLC to Provide Primary Servicing for LiftForward Marketplace Lending Platform for Small Businesses
Loan servicing from First Associates enables LiftForward to rapidly scale its operations while achieving industry-leading security and compliance
Publication Date: July 28, 2015

Alamo Pawn Shop Offers 5 Percent Discount in July
Pawn shop makes move in observance of National Independent Retailer Month.
Publication Date: July 15, 2015

Mother of Deceased Addict Wins Bankruptcy Discharge of $63,500.00 in Private Student Loans Taken for Son's Drug Treatment
The Law Office of Christine A. Kingston reports that Bankruptcy Judge Richard M. Neiter, according to court records, awarded summary judgment yesterday to a struggling mother who lost her son to a drug addiction. Judge Neiter Ordered the $63,500.00 student loans, taken for her son's drug treatment, to be discharged in her bankruptcy case.
Publication Date: July 11, 2015

Loan/Lease Payoff Insurance Quotes Added to Consumer Insurance Portal Online
Loan/Lease payoff insurance quotes are now included in the consumer portion of the Insurance Pros company database online at http://insuranceprosusa.com/auto-insurance.html (http://insuranceprosusa.com/auto-insurance.html).
Publication Date: July 28, 2015

Colorado Cannabis CEO Welcomes New Senate Measure, Allowing Legal Marijuana Industry Access to Banking Services
Ryan Fox, founder and chief executive of Denver-based Kindman, says the bill could be a game-changer for both the legal cannabis industry and the nations financial institutions
Publication Date: July 11, 2015

eOriginal to Sponsor IMNs 2015 ABS East Conference
Leader in digital asset management, featured sponsor, panelist and exhibitor at the largest industry conference for the securitization market.
Publication Date: July 23, 2015

Aftermarket Insurance Products Likely to Draw CFPB Focus
New eContracting feature, CompliPrice from F&I Express, provides innovative solution for Auto Dealer Compliance Managers and F&I Managers to ensure aftermarket insurance products are compliant with dealer policies and potential CFPB policies.
Publication Date: July 16, 2015

National Debt Relief Shares Common Financial Mistakes By 40-Somethings
National Debt Relief recently shared in an article some of the most common financial mistakes of consumers who are aged 40 and above. The article explains pitfalls of this age group in terms of money management.
Publication Date: July 21, 2015

National Bank Of Oman Deploys CRMnext As Part Of Its Focus On Delivering A Consistently Superior Customer Experience
CRMnext will power National Bank of Omans end-to-end lead management across all business lines and channels including branch, web, call centers etc
Publication Date: July 31, 2015

GrooveCar Partners with Insight and Michoud Credit Unions
New partnerships announced for online credit union automotive buying resource
Publication Date: July 31, 2015

NY Auto Giant and Atlantic Auto Group Partner Knighted at Make-A-Wish Gala
Honoree Michael Brown recognized at annual event
Publication Date: July 22, 2015

 

 

 

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