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.
Saturday, June 25th
LendingTree offers personal loans ranging from $1,000 to $50,000 that can be used to buy your next car. Their free-to-use service matches you with a variety of lenders who compete for your business. Although LendingTree may have limited auto loans for those with credit scores lower than 640, clients rave about the experience they had when getting financing here.
My Auto Loan can help you get the financing you need for a new or used vehicle, to refinance your current car loan, to buy from a private seller or to buy out your lease. The company has a solid reputation and satisfied customers say that the service connected them with loans they could afford. We wish this loan referral platform offered greater transparency about the four lenders in their network: you won't know until you submit your information what you'll get as an interest rate or which company is offering you financing.
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
Auto loan delinquencies tick up as inflation hits nonprime borrowers
Missed payments are rising among nonprime credits as higher prices on other goods leave consumers with less money to pay back their car and truck loans. The uptick may be a sign that the stellar ...
Tue, 21 Jun 2022