Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.
Thursday, December 8th
Auto Credit Express works to pair borrowers with their network of partner dealerships who specialize in auto loans for people with bad credit. In other words, you won't get a loan here, but you'll be matched with a local dealership that's willing to work something out. This company actually has an excellent history of making that happen, with thousands of car buyers giving Auto Credit Express high marks. And, because ACE doesn't fund your loan, they won't run your credit report before connecting you with a dealership. Particularly if your credit isn't fantastic, you should see what Auto Credit Express can do for you.
In the past, RoadLoans connected consumers with auto loans for new or used cars, as well as refinancing on already-purchased vehicles. Loans could be approved within a matter of minutes, and the service would even recommend trusted dealerships in the area for using the funds. However, a sharp decline in RoadLoans' reputation with the BBB, plus an application process that now redirects applicants to Chrysler Financial, puts this lender near the bottom of our rankings for auto loans.
You're right if you suspect that the answer to that question is "not necessarily at the dealership". You might initially be lured in by a dealership's attractive 0% financing offers - but unless you've got extremely good credit, you're not going to qualify. And, in the excitement of getting your new (or new-to-you) car, you could wind up with interest rates on your car loan that are even higher than what you'd get elsewhere.
Savvy consumers know that the best way to get truly competitive rates on auto loans is by comparison shopping with online lenders. Even if you're just starting the research process, it only takes a few minutes to find out how much you're qualified to borrow and with what loan terms. With that information in hand, perhaps with a preapproval letter too, you'll be much more confident walking into the dealership and negotiating the best possible deal on the car itself.
Some providers of auto loans specialize in helping customers with less-than-perfect credit. These lenders can work with you to get a loan that you can afford, and they take into account your whole financial picture - not just your low credit score, previous late payments, or a bankruptcy in your past. Of course, if your credit history is excellent, shopping around for your auto loan online will likely turn up dozens of offers to choose from.
It's important to carefully consider several criteria when evaluating different online lenders. These factors include the following:
TopConsumerReviews.com has reviewed and ranked the best auto loan providers available today. We hope this information helps you get the right financing for your next vehicle purchase or refinance!
Select any 2 Auto Loan Companies to compare them head to head