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Tuesday, December 6th
There are plenty of referral services out there that want to help you get refinancing for your car loan, but LendingTree tops them all. As part of a brand family that includes Student Loan Hero and Ovation Credit Services, this company offers the easiest way to access all types of funding - especially when looking for a new loan on your car.
Huge network of reliable lenders
One of the reasons LendingTree regularly winds up at the top of our rankings is because of their vast database of lenders and the amount of information provided upfront about each one. You don't have to submit a single piece of personal data to see what LendingTree has in your area: just enter your loan amount and estimated credit score, and don't forget to change the location if it doesn't default to where you live. From there, you can choose the loan term that interests you (ours had options from 36-72 months) and get preliminary quotes from specific lenders.
Most transparent lending option
Better yet, there's no mystery as to which lenders could be funding your refinance loan - or what other customers have to say about them. It's beyond easy to get a quick feel for the reviews and highlights of any financial institution LendingTree uses, and detailed information is just a click away. Trust us when we say you won't find that kind of transparency with any other source of auto refinancing loans in our review!
Provide info to verify identity
To move forward with the car loan refinancing process at LendingTree, you can either click on the "See if you qualify" button from a lender in your quote list, or you can use the three white buttons at the top of the refi page to compare lenders or rates (pro tip: all three buttons take you to the same form, from what we could tell). You'll choose your desired loan term, from 1-7 years, the make and model of your car and estimated mileage, plus the interest rate/payoff amount/monthly payment on your current loan. You'll then move on to personal details, such as your birthdate, employment status and yearly income, liquid assets, and then your name and email address to create a LendingTree account. The questions aren't over yet: you still have to put in your address and how long you've lived there, and the last four digits of your SSN for identity verification.
Could be a hard pull on your credit
That's the only downside we found when using LendingTree: the fine print on that page says that their partner lenders might use that information to do a hard pull on your credit report, while other providers of auto refinancing make sure that it's only a soft pull until you actually choose a loan offer to apply for. Those partners may also contact you enthusiastically and repeatedly once you're in their database, if client feedback is any indication.
Wider options, fantastic reputation
However, there are still plenty of reasons to love this company. LendingTree had some cars covered that we didn't find with other lenders, like Hummer, Saab and Isuzu, as well as luxury makes like Maserati and Lamborghini. Better yet, you won't find many places to refinance your car loan that have the sheer quantity of five-star customer reviews that LendingTree has. Not only does the BBB give this service an "A+" rating and accreditation, but we found more than 7,600 perfect scores elsewhere given by happy clients across LendingTree's spectrum of products.
Your best option for car loan refinancing
Refinancing your car loan shouldn't be a mystery game where you pull the lever and hope that you come out with rates and terms you like from a lender you can trust. LendingTree puts all of the power in your hands, with transparency from the get-go and the ability to choose any lender that meets your expectations - not just the one that would give them a higher profit. You can trust that you'll get the best possible auto refinancing if you use LendingTree, and we're glad to give the company our highest recommendation.
With interest rates dropping like crazy, you're smart to think you might be able to save some money with a new loan. Whether you choose to keep your monthly payments the same and shorten your loan term or lower your payments and spend your cash on other necessities, it's almost a guarantee that refinancing will be a good decision.
In the past, most people would go to their bank or credit union to get a car loan refi. After all, it's comfortable, familiar, and easy to set up with checking or bank accounts that are already established there. But, that's not the best idea if you want the nation's top rates and terms for car loan refinancing. Your hometown bank doesn't need to compete with other lenders for your business: they already have it!
Money-wise consumers look to the internet for the best deals, and car loan refinancing is no different. There's no need to accept the first loan offer you see if you can get quotes from several financial institutions at once. Most online lenders have rates and terms that will easily beat anything you find locally, with all the convenience of a completely-online application and approval process. Save money while sipping coffee at home in your pajamas? Why not!
Looking at the available options for car loan refinancing online, it can be hard to tell different lenders apart. Which one should you use, not just to get an initial rate quote but ultimately to finalize your new loan? Here are several ways you can evaluate each choice to find the car loan refinancing that's right for you:
TopConsumerReviews.com has evaluated and ranked the best providers of car loan refinancing available today. We're confident that this information will help you get the rates and terms you're looking for to save money on your car payments!
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