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      April 8, 2020

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LendingClub vs Road Loans

Best Auto Loans

To help you find the Best Auto Loans, TopConsumerReviews.com provides you with an in-depth comparison of LendingClub and Road Loans.

To see ALL of our reviews for the Best Auto Loans, please Click Here

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.

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.

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2020

Auto Loans Reviews

4.5 stars
LendingClub

LENDINGCLUB

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BBB Rating:

A

For those looking for an auto loan, traditional loan companies may not be the most affordable option. Other solutions, such as a personal loan, may be cheaper in the long run. LendingClub is a leader in the social lending market and facilitates personal loans, which can be used as auto loans.

Social Lenders such as LendingClub bring individuals that can provide financing for auto loans together with borrowers who need them. They do this with a secure website and sophisticated back-end processing. Without a bank in the mix, borrowers are typically able to get a lower interest rate on their auto loan than traditional methods.

LendingClub currently holds an "A" Better Business Bureau rating. They help facilitate thousands of loans for customers and lenders each and every month. Shoppers can expect a loan rate between 6.95% and 35.89%. Best APR is available to borrowers with excellent credit.

It's very easy to see if a lender is available for your auto loan needs. You just input the amount you want to borrow, the purpose of your loan, and other information such as your credit score, contact information, and income level. Once LendingClub validates this information, they present you with the terms of your loan. If you choose to proceed, personal lenders have a few days to fund your request. Of course, borrowers with a better credit rating typically have an easier time attracting lenders.

If you have any questions during the process, you can speak to a LendingClub representative for assistance. Like any peer-to-peer lending company, a fee is built into the loan in order to cover costs. Also, you can anticipate a one-time processing fee that ranges from 1% to 6% of the loan amount, depending on your loan terms.

If you're looking for an affordable car loan between $1,000 and $40,000, LendingClub may be a solution that works well for your financial situation over traditional auto loan companies.

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4 stars
Road Loans

ROAD LOANS

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BBB Rating:

A+

Road Loans is a very good place to find an affordable auto loans for your next car. With a streamlined interface and fast response, they deliver good quality loan options for your consideration.

Road Loans is a Dallas, Texas based auto loan company that's been in business since 1995. They currently hold an A+ rating with the BBB. Road Loans is a direct-to-consumer lender and they provide financing for new cars, used cars, or vehicle refinancing. Their auto loan programs are flexible enough for all types of credit scores and all makes and models of cars.

The Road Loans website is an great resource for your car financing needs. You can get educated on credit scores, calculate a payment, order credit reports, download apps and more.

Often the car buying process starts with the financing - and Road Loans gets that. With the streamlined Road Loans interface you can apply for the auto loan online, wait 30 seconds for approval, go to a dealer, pick-out the car and sign the papers.

There's no sitting at a dealership and stressing that your auto loan will not go through after you've spent hours selecting a car you thought you could afford. The list of dealers that Road Loans works with is extensive. We found an abundance of relationships with many of the major dealers in several cities.

For any type of car loan the process is simple:

  • Update the application with the auto loan type, contact information, employment information, social security number and more.
  • After approximately 30 seconds you'll have an email response from Road Loans with your auto loan approval status.
  • Next you'll receive a follow-up phone call from Road Loans to discuss any specific information.
  • Finally, Road Loans will issue payment to the auto dealer, finance company, or individual as needed.

We liked the flexible and customer friendly auto loan options available at Road Loans. We also liked the hassle-free loan process that Road Loans uses when buying a new or used car.

Overall, Road Loans has built a top quality website that streamlines the car loan experience. If you're in the market for a car loan, Road Loans is worth your consideration.

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Continued from above

However, not all auto loan companies are the same. There can be wide differences in the features and auto loan terms that they offer.

Before you apply for your next auto loan, consider the following important factors:

  • Application Process. What is the process of applying for the auto loan?
  • 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?

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!

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