Where is the best place to find auto loans? Auto loans are one of the most universally accepted parts of owning a car. Especially in today's market, not many people have the funds to buy a car outright. Most new cars are a minimum of $20,000, and most cost much more. Even if you're buying something used, you'll be looking at putting down some serious cash if you want something reliable.
Great
Auto Credit Express is an auto loan site that helps you get connected with financing, no matter what your situation is. Unlike some other auto loan providers in our review, Auto Credit Express promises hassle-free financing even if you have bad or no credit or have filed for bankruptcy. You can begin the process online and get connected with one of Auto Credit Express' lending partners within 24 hours.
Match with over 4,000 dealerships
Auto Credit Express works with a network of over 4,000 car dealerships and lenders, making it easy to find your car no matter where your new wheels are being sold. Auto Credit Express offers services in the US and Canada, so you can rest assured that you won't get turned down. Auto Credit Express does not offer you a loan itself. Instead, you'll find a lender through the platform, but this is pretty standard with auto loan companies, which are rarely direct lenders.
Quick form, but be prepared for a credit check
To apply for an auto loan through Auto Credit Express, you'll have to fill out an online form. Auto Credit Express asks for personal information, including your name, email, phone, birthday, and Social Security Number. You'll also be asked to provide residential information, including the type of residence you live in and what your monthly payment is. Next, Auto Credit Express will ask about your employment, and you should be prepared to provide a phone number for your place of work. Finally, Auto Credit Express will ask about your plans to buy a new car: how much of a down payment can you afford, and whether or not you've had a car get repossessed within the last 12 months. After this, you will have to wait up to 24 hours to hear back from Auto Credit Express or one of its partner lenders. Auto Credit Express will conduct a credit report during the process.
No loan previews available
Oddly, Auto Credit Express doesn't ask what kind of car you want during the initial intake form. Instead, you'll have to wait and see what the partner lenders will offer you to complete the process. Make sure you have your Social Security Number ready, as that will help the lenders verify what you've said is true. You'll be contacted by a representative after you've found a lender for your auto loan to set up your visit to the dealership. As for loan amounts, you can use the Auto Credit Express online auto loan estimator to see how much you might get approved for. For our research, we created a test customer who has fair credit, a monthly income of $4,000, rent of $1,200, and a $100 monthly student loan payment. Auto Credit Express estimated this customer would be approved for up to $35,000.
Payment through the lender's portal
Auto Credit Express's payment process will depend on your individual lender. Most partner lenders for auto loans at Auto Credit Express will have their own online payment portal. Auto Credit Express may manage your loan, though, and allow you to pay back your loan through its website.
High praise for quick service and easy purchase
Auto Credit Express currently holds an impressive "A+" rating and accreditation from the Better Business Bureau. On top of that, this auto loan site has a 4.6-star average rating out of 5 on Trustpilot, with another 4,000 individual customer reviews to back up the score. Recent reviews show 5-star ratings as recently as a few hours prior to the time of our research. Customers say that Auto Credit Express approved them for more than they expected, and they were able to get their dream cars. Plus, customers said that once they were approved, the experience of buying a car was a breeze: no lengthy wait times at the dealership. Customers love the smooth process, and in some cases, even had the cars delivered.
Highly competitive choice
Auto Credit Express is a standout site with helpful tools like calculators and online forms that make it easier than ever to get an auto loan. With rave reviews on Trustpilot and a perfect score with the BBB, Auto Credit Express stands out as a great site to grab your next auto loan. While we'd love to see a more detailed estimate based on your actual dream car, Auto Credit Express is still a highly competitive choice.
Continued from above...
Auto loans are one of the most universally accepted parts of owning a car. Especially in today's market, not many people have the funds to buy a car outright. Most new cars are a minimum of $20,000, and most cost much more. Even if you're buying something used, you'll be looking at putting down some serious cash if you want something reliable.
That's where auto loans come in. Instead of handing over your hard-earned money when you take the car home, you sign up for an auto loan that helps you spread the payments out over time. Many customers will jump right in and take a loan through the dealership or their bank. But there are other, sometimes much less costly options to consider, too.
So what exactly is an auto loan? Basically, it's money that's lent to you by a third party to help you purchase your next car. You use the money you borrowed to buy the car off the lot, and then pay back the loan over time (usually over a number of years) in monthly payments. Your car is the collateral for the loan, so if you stop making payments, your lender can take the car back (since it's technically their money that owns it until you pay it off). Things like your credit score and your job security can be factors in securing the best loan with the lowest interest rate.
Most people generally go with the obvious choice: through the dealership (especially if they're offering 0% financing or other deals in the first year), or through their trusted banking institution. However, there are tons of lenders that will give you money for an auto loan. And since these guys aren't actually trying to sell you the car (usually), you won't have to worry about feeling pressured in the moment, and can take the time to pick out the best loan for your situation.
In today's day and age, you can easily apply for auto loans directly online. You don't even need to be at the dealership. It's faster than ever, and you can do it from the comfort of your home. Generally, you'll need your driver's license, information about your job and income. Because the loan process will likely include a credit check, have your Social Security Number ready when you apply for an auto loan online. During the process, make sure to watch the interest rates. Those are the most important parts as they'll determine how much more you'll pay over time. Make sure you shop around and compare offers to make sure you get the best deal for your finances and credit.
If you're ready to get that new set of wheels, we get the feeling. Nothing's better than that new car smell when you drive it off the lot. To make sure you get the best deal on your auto loan, here are some factors to consider that can help you pick the best lender:
Whether you're grabbing a new eco-car, a shiny Toyota, or one of those pretty red Mazdas that are so popular these days, your new car is only a few clicks away. To make sure you have the best chance of finding a lender that will get you back on the road with your new car, Top Consumer Reviews has researched and ranked the best auto loan providers available today. Enjoy your new set of wheels!
Compare Any 2 Products
What You Should Know Before Getting An Auto Loan
Buying a new vehicle can either be an exciting experience, or one that stresses you to the max. For some people, it can even be a combination of the two. Sometimes people get caught up in the excitement of buying another vehicle, and find themselves being talked into more than they can reasonably afford. And once the deal is done, it's hard to undo it.
Rushing into buying a new or used vehicle is never a good idea. Unlike other investments, such as real estate, vehicles are a very poor investment. They begin to depreciate in value the minute they are driven off the dealer's lot, and continue to lose value for every year of ownership. However, for most people, vehicles are a necessity in order to get to work and other places they need to go. If you are lucky enough to live in an area with stellar public transportation, a vehicle is something you likely can do without. But for anyone living outside the reach of decent public modes of transport, a vehicle is a necessary evil.
Before buying any vehicle, whether new or used, shoppers should consider a few things.
First and foremost is to determine affordability. How much vehicle can you reasonably afford to own without going broke in the process? As a general rule, buyers should not spend more than 20 percent of their monthly income after taxes on a vehicle. If you are spending more than that, you risk overextending yourself financially and running the risk of ruining your credit report.
To estimate how much of a monthly payment you can afford, be sure to look at more than the purchase price of the vehicle. You must also factor in the interest rate, maintenance fees and insurance for the vehicle. All of these things should be considered under the 20-percent umbrella rule.
Consumers also should do some hefty research on the best way to secure financing if they are unable to cover the full cost of the vehicle's purchase price in cash. One of the best places to look for an auto loan is through online auto loan companies. Some of these businesses have access to a large number of loan companies and can automatically compare their auto loan rates, delivering only the best ones to you.
Some websites also provide a valuable tool when researching loans and interest rates. Consumers are able to use prediction software to plug in their local zip code and generate a list of the going interest rates in their area. Some online calculators also will take all of the factors involved in owning a vehicle - purchase price, insurance, maintenance and financing - and generate a monthly cost for you. It's always good to make use of these kinds of resources to be certain you're not overextending yourself financially.
Another place to look for an auto loan is with your own financial institution. Having a solid financial history with a bank can help to secure a good deal. With longstanding customers, a bank may be able to negotiate a fair interest rate for you, and certainly better than what you could find through the car dealer.
Securing a loan through the auto dealer is usually not the best idea. It usually is the most expensive option when it comes to financing. While auto dealers may have a variety of financial institutions to tap in order to get a variety of interest rates and offers, they also are permitted to add up to a 3-percent fee on to the total in order to compensate themselves for securing the loan. So as a general rule, auto dealers should be the last place you look for a loan.
Top Products.
Top Reviews.
Top Consumer Reviews.
Reviews
Browse through thousands of reviews.
Social Media
Like us? Follow us! We'd love to have you join our community.
Newsletter
Stay up to date with the latest reviews. We'll keep you informed, and we'll never sell your information to anyone.
