We 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.

OneMain Financial Review

Wednesday, July 16th

2025 Auto Loan Company Reviews

OneMain Financial Review 2.5 Star Rating

OneMain Financial

2.5 Star Rating
  • Loan amounts range from $1,500 to $20,000
  • Funds can be direct deposited
  • Collateral required on larger loans
  • Available in 44 states
  • Origination fees of $25 to $400 or up to 10% of the loan total
  • In business for over 100 years

Looking for an auto loan from a lender that's been around for over a century? You're in luck with OneMain Financial. They've got a history that spans more than 100 years and a whopping 1500+ in-person branches all over the country, offering a personalized touch.

Loans limited to a max of $20K

When it comes to your financing needs, OneMain Financial is a big-bank option for personal loans that can be used for pretty much anything you want, including the purchase of your dream car. They offer loan amounts ranging from $1,500 to $20,000. Unfortunately, in today's marketplace, that's probably not going to cover the entire cost of any new car, so be prepared to add a down payment or shop for a used vehicle if you're set on getting your auto loan from OneMain.

Application is easy

Qualifying for a loan at OneMain is a breeze. Just start by entering the loan amount you need and click "Check For Offers." On the next page, you'll fill in the usual details: your name, contact info, address, the last four digits of your SSN to verify who you are, monthly net income and its source, and whether you already own a vehicle. And here's the good part - checking for a pre-qualified offer won't make a dent in your credit score. So, there's no harm in checking out what OneMain has up its sleeve for your auto loan.

Available in 44 states

One thing to note, though not explicitly mentioned on the site: OneMain only offers auto loans in 44 states, according to the Better Business Bureau. So, if you're in one of the six states not on their list, you might need to embark on a trial-and-error journey to find that out. At least OneMain has done away with the requirement of visiting one of their branch locations to pick up your auto loan proceeds: you can now get them through a bank-issued debit card or via ACH deposit to your bank account.

Best Auto Loan Companies

Your location impacts your loan amounts

Where you live could also dictate the size of the auto loan you qualify for. For instance, minimum loan sizes range from $2,000 to $3,100 in Alabama, California, Georgia, North Dakota, Ohio, and Virginia. On the flip side, unsecured loans have limits from $7,000 to $14,000 in Maine, Mississippi, North Carolina, and West Virginia.

Large loans have to be secured with collateral

Now, if you're looking for a larger loan, brace yourself because you'll need collateral to secure it. OneMain will slap a first lien on a car you already own. There are certain requirements - it can't be more than 10 years old, has to meet specific value criteria, be titled in your name, and have valid insurance. If you're looking for a loan to buy a car, especially your first one, this might be a huge hurdle. But credit where it's due: OneMain is pretty upfront about these requirements, which is more than can be said for many of their competitors. Those other lenders might have their own demands, but you'll often have to dig deep into the application process to discover them.

Rates and fees fail to impress

Speaking of disclosure, OneMain Financial charges origination fees that vary depending on your location. You can expect a flat fee from $25 to $400 or a percentage of your total loan, ranging from 1% to 10%. The specific fees are laid out in the Loan Amounts and Fees section, linked at the bottom of the site. However, they no longer come right out and tell you what you can expect for interest rates. Even if you've got a good credit history, the interest rates you see may be higher when compared to the offers of 0% to 10% you might get from a dealership. So, always read the disclosure statement with a fine-tooth comb, and don't hesitate to comparison shop quotes for a better rate.

Best Auto Loan Companies

Reputation is lower than you'd expect

As a big corporation with a century-long history, OneMain is no stranger to customer complaints. The BBB site alone has over 1,000 complaints in the last three years (though they don't let you read them, mysteriously) and more than 1,600 customer reviews, which land at a just-average 3.7 stars out of 5. Also, OneMain Financial still holds accreditation, but their rating has dropped from an "A+” to a ho-hum "B”. The reason? According to the Better Business Bureau, it's due to action taken against OneMain by the Consumer Financial Protection Bureau (CFPB), related to refunding practices for some add-on loan products.

Still gets some praise

And yet, OneMain gets praise for being fast, fair, and easy to work with. We found over 10,000 reviews for the company, typically averaging similarly to what we spotted on the BBB. Borrowers offered compliments to specific employees for being helpful and professional, and at least at the beginning of their loan, they were satisfied with the overall experience.

Consider other auto lenders first

OneMain Financial does have its strengths when it comes to auto loans. Their long-standing reputation and transparency with fees and interest rates set them apart. But, be aware of the geographic and financial limitations, and the potentially not-so-competitive interest rates. If you're considering an auto loan from OneMain, it's a smart move to explore other options before signing on the dotted line.

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.

The Best Auto Loan Companies Compare Auto Loan Companies Compare Auto Loan Company Reviews What are the best Auto Loan Companies Best Auto Loan Company Reviews

Auto Loan Company FAQ

Most auto loans are funded by smaller banks and credit unions. But, as you look for an affordable auto loan, you might see some familiar names like Capital One and Southeast Financial.
That depends on several factors, including your credit history and the amount you need to borrow. Searching for a car loan online gives you the advantage of comparison "shopping" for the best rate available to you.
No problem! There are many lenders that are willing to work with you even if your credit score isn't the best. You'll probably pay higher interest rates than a borrower with an 800+ credit score, but you'll still be able to get a loan.
When you request a rate quote online, most lenders perform a "soft pull" of your credit history: checking the information you provide against the credit bureaus' records to verify your identity. That doesn't affect your credit score. But, if you go through the entire process and actually submit a loan application, it'll temporarily lower your score.
You can get an auto loan without ever setting foot in a bank! Many of us have used a car dealer to obtain financing but, obtaining a car loan online is a smart and empowering option.
Auto loans are available in amounts ranging from $1000 to $100,000. To determine your eligibility for a loan, the lenders will take into account your credit history, current debts, and income.
Is 24 hours soon enough? While most auto loans take a few days to a week to be funded and deposited to your account, at least one lender has a one-day turnaround for most customers.
No, not when you choose a reputable provider! It's easy to find an auto loan from a lender with a strong reputation. Positive customer comments and a high rating from the Better Business Bureau are two indicators that the company is a trustworthy option for your loan.
Compare the Best Reviews

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!

See the Best Auto Loan Company
The Best Reviews of Auto Loan Companies