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      July 2, 2020

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LendingTree vs USAA

Best Auto Loans

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

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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.

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

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4.5 stars
LendingTree

LENDINGTREE

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BBB Rating:

A+

LendingTree, founded in 1996, allows consumers to have a one-stop shop experience to compare the finance options available from the largest network of banks, lenders and credit partners in the industry. With a top Better Business Bureau rating of an A+, LendingTree is one of the nation's largest online marketplaces, with the largest network of lenders in the auto loan industry.

Applying for an auto loan with LendingTree is a simple and easy process. You simply complete an online form. Qualified applicants will receive up to five (5) offers in a matter of minutes, along with their credit score. You can then review all loan options, and select the offer that works best for your circumstances. Then you communicate directly with that lender.

The LendingTree website is a great resource to assist consumers with their financing needs. Links are provided that help in understanding the do's and don'ts of auto loan financing, providing tips to compare auto quotes, helping to decide to purchase new or used vehicles and more. There is even an auto loan "basics" section that is a great resource for first time buyers.

Fixed rate New and Used Auto Loan terms range from 12 to 84 months, and allow finance options between $7,500 and $300,000. Applicants can get matched with a lender, receive conditional loan offers or quotes, and talk to a lender - all at no cost to you. The lender you choose may require a fee to process your formal request, however there will not be a cost to shop rates through LendingTree.

Overall, LendingTree is a top quality lender that offers a variety of informational tools to help borrowers manage their finances, with the convenience of receiving loan quotes from several lenders in the industry in a matter of minutes. All these factors have earned LendingTree a very high rating.

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2.5 stars
USAA

USAA

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BBB Rating:

B

USAA or United Services Automobile Association was founded in 1922. Today the company provides car loans, insurance, retirement, banking services and more to those that have served in the military, as well as, their families. Approximately 10 USAA locations exist in the US for walk-in services.

The USAA website lacks easy navigation and we found ourselves disappointed with the layout. The application process for a loan is also a bit cumbersome. To apply for a loan you must first create an account. Next you input contact information, military identification, social security and more. The approval process occurs via email which may or may not be instant.

USAA also works with specific dealerships to expedite the complete process. The downside to their effort is that they had very few cars and dealerships in their database that were located to several major cities. Another concern was the BBB rating. Our Better Business Bureau search found several customer complaints with USAA - with the biggest issue being slow resolution response.

Overall, USAA limits clients to military only and while the rates may benefit those that have served our country, the application process was a bit tedious. Customer complaints with the BBB were also numerous and brought some concern. We would like to see some improvements at the USAA website as well as with their customer service.

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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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