Thursday, March 27th
2025 Auto Loan Company Reviews
Auto Credit Express
- Specializes in auto loans for people with bad credit
- Connects you with partner dealerships willing to give you a loan
- Over 4,400 dealerships in the network
- "A+” rated and accredited by the BBB
- Over 3,000 five-star reviews
- In business since 1999
If you're on the hunt for a car loan and your credit score isn't perfect, Auto Credit Express could be a game-changer. With over 20 years in the business and a stellar "A+" rating plus BBB accreditation, they've got a reliable reputation, especially if your credit isn't top-notch.
Your information will be shared, FYI
The online application process is a breeze and involves just a few steps. You fill in your name, address, birthdate, housing situation, monthly payments, employment details, Social Security number, and contact information. Your application goes through Auto Credit Express' network of dealerships for approval. Be aware that the fine print of the application says that you're agreeing to be contacted by car dealers, lenders, and other network partners "regarding this loan request and relevant marketing/advertising messages” (sounds a little spammy to us).
Loan offer must be used at a partner dealership
Keep in mind that if your auto loan gets the green light, it can only be used to buy a car from one of their "authorized licensed car dealer partners." At the time of our review, there were over 4,400 active dealerships nationwide in their network, which you can browse on their site. The dealership, not Auto Credit Express, provides the funding. In the past, Auto Credit Express provided a rough framework of eligibility criteria, so that prospective borrowers would know if filling out the application was even worth the three minutes it takes, but the company doesn't seem to offer that heads-up anymore.
Some useful tools
On the Auto Credit Express website, you'll find additional resources, including a car loan estimator, details on obtaining your free credit score, and information about loan options such as $500 down and military financing.
Plenty of praise from happy clients
This auto loan platform gets a lot of praise, to the tune of more than 3,000 five-star ratings on Trustpilot alone. Time and again, people who use the Auto Credit Express platform to get a loan say that the process is easy to understand, and that they were connected with dealerships willing to give them a chance when more traditional lending options said no. For individuals struggling to get funding to buy a car, Auto Credit Express seems to offer a path to vehicle ownership when all else fails.
Owned by a big internet-focused conglomerate
There's one aspect of Auto Credit Express that has us a little on the fence: they're owned by the same parent company (Internet Brands) that owns the lowest-ranking lending platform on our list. It's a huge corporation (that owns big names like WebMD, Martindale-Avvo, and Fodor's), but the BBB ratings for the overarching brand and specifically for Auto Credit Express are all over the place. "A+”? "D-”? Accredited or not? It leaves us a little less than comforted by it all.
Good option for car-shoppers with bad credit
If you've got less-than-stellar credit and you're having trouble finding a lender to finance your car purchase, Auto Credit Express is worth trying. Just make sure you understand what you're getting into (like having your information passed on as a paid lead to businesses that might not be related to auto loans) when you fill out the online application. However, for car buyers with solid credit just looking for a loan with good terms that can be used at the dealership of their choice (or to buy a vehicle from a private seller), Auto Credit Express isn't the best option out there.
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Where Can You Get the Best Auto Loans?
You might be wondering, can you really find the ideal auto loan right at the dealership? Well, the truth is, that's not always the case. Sure, those financing offers they dangle in front of you might sound tempting, but the reality is that unless your credit is in tip-top shape, you might not meet their strict requirements. And if you're not careful, you could end up with sky-high interest rates that could cost you more in the long run.
The wise move, as savvy consumers know, is to hunt for competitive rates on auto loans by exploring what online lenders have to offer. And, you don't have to spend hours researching. In just a few minutes, you can discover how much you can borrow and what kind of loan terms you qualify for. Armed with this information and maybe even a preapproval letter, you'll be much better prepared walking into the dealership, ready to negotiate the best deal on your car.
Auto Loan Company FAQ
Continued from above...
In fact, online auto loans have gained immense popularity in recent years, transforming the way individuals finance their vehicles. This surge in preference for online auto loans stems from a variety of factors that can save you money.
First, the convenience offered by online car lending platforms is transformational. Traditional methods of getting a competitive auto loan often involved visiting banks or credit unions in person, which could be time-consuming and inconvenient. Online lending platforms has revolutionized this process, letting you apply for an auto loan from the comfort of your homes. This streamlined online application process, coupled with the elimination of paperwork, significantly reduces the time and effort required to get a loan.
Second, the competitive nature of online lending platforms means multiple lenders vie for your attention. This competition often leads to more favorable loan terms, including lower interest rates, smaller fees, and flexible repayment options. Empowered by the ability to easily compare different loan offers enables you to choose the option that best suits your financial needs.
For those of you with less-than-perfect credit, don't worry. There are lenders out there who specialize in helping people like you. They'll work with you to find a loan that fits your budget, considering your entire financial situation, not just your credit score, any past late payments, or a past bankruptcy. And if your credit history is impeccable, shopping around for an online auto loan can open the door to a plethora of options.
Now, before you dive in, there are some key factors to weigh when you're comparing different online lenders. Here's what you should look for:
- Process. Find an auto loan site that makes the borrowing journey straightforward, from gathering information to securing your funds. You should be able to navigate the steps quickly and with ease.
- Referral platform or direct lender. Understand what you're getting into: does the site lend to you directly or match you up with financing sources you might not have been aware of? Both are solid routes to go, but there are pros and cons to each.
- Fees and rates. Don't forget to read the fine print. Will you pay any origination fees to get your loan? Are there any requirements to get the lowest possible interest rates (like having a banking account with the lender or setting up your loan payments to go out automatically)?
- Reputation. A fantastic auto loan isn't worth much if the lender isn't trustworthy. Check what the Better Business Bureau has to say about the company and look for reviews from other car shoppers to get a sense of their experiences.
Looking for expert guidance? Top Consumer Reviews has got you covered. We've reviewed and ranked some of the most popular sources of auto loans today. Our aim is to assist you in finding the perfect financing solution for your next vehicle purchase or refinance. Happy car shopping!
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