{"id":3958,"date":"2020-03-01T20:54:28","date_gmt":"2020-03-01T16:54:28","guid":{"rendered":"http:\/\/www.awebtoknow.com\/?p=3958"},"modified":"2022-10-26T18:33:58","modified_gmt":"2022-10-26T14:33:58","slug":"best-auto-loans-online","status":"publish","type":"post","link":"https:\/\/www.awebtoknow.com\/reviews\/best-auto-loans-online\/","title":{"rendered":"Best Auto Loans For You To Catch The Best Deal"},"content":{"rendered":"

We would all be so lucky if we could buy a new car without having to take out a car loan. But since most of us aren\u2019t, then a car loan it is. However, it\u2019s not as easy as just going to the first lender you see or going with the one offered by the dealer. You don\u2019t want to pay more than you should or get steeped in debt. By taking the time to get the best deal, you can be sure that you won\u2019t be biting me more than you can chew. Of course, finding the best rate is easier said than done. You\u2019ll need to take the time to shop around, compare rates, and compare lender-specific benefits. If you don\u2019t have the time to do so, don\u2019t worry. We\u2019ve got your back. Based on our extensive research, the 10 Best Auto Loans<\/strong> are:<\/span><\/p>\n

*Please note that while we do everything in our power to provide accurate information with recommendations that we came up with during our research, <\/span>this article does not constitute financial advice<\/strong>. As of now we <\/span>do not earn any <\/b>commission<\/b><\/span>\u00a0<\/b>from you clicking and purchasing anything from any of these companies, however <\/span>we do plan to add that feature<\/strong>.<\/span><\/em><\/p>\n

Top 5 Auto Loans Of 2020 Reviewed<\/strong><\/h2>\n\n

1. MyAutoloan<\/strong><\/h3>\nBest Auto Loan Broker<\/span><\/span><\/span>\u00a0MyAutoLoan is not exactly a lender. It is a loan aggregator, soliciting offers from different lenders which is why it can promise to provide you with all major loan types including the few types that are rarely offered by others – lease buyouts, refinancing an existing loan, and private party loan. For the same reason, you can get up to four offers at once. This is perfect for people who don’t have the time to fill out too many applications and for those with average credit scores. Most notably, with an excellent credit score, you can get an APR as low as 1.99%.<\/span><\/p>\n\n\n\n\n
APR<\/strong><\/td>\nLoan Term<\/strong><\/td>\nLoan Amount<\/strong><\/td>\nHard Pull Credit Check<\/strong><\/td>\nMinimum Requirements<\/strong><\/td>\n<\/tr>\n
Purchase loans: 1.99% – 24.9%<\/span><\/p>\n

Refinance loans: 1.84% – 29.4%<\/span><\/td>\n

24 to 84 months<\/span><\/td>\n$7,500 – $100,000<\/span><\/td>\nYes<\/span><\/td>\n\n

Credit score: 500<\/span><\/p>\n

Income: $1,800\/month<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Aside from being able to instantly compare offers in one site, MyAutoLoan also has a number of handy tools that can help you in your decision-making. You can use the Interest Rate Estimator to find out what you might get based on your zip code, loan type, and credit information. You can use the Payment Amount Calculator to find out how much you need to pay monthly based on a specific loan amount. The site also provides you with links to other resources such as where to find new or used car values, where to find a manufacturer’s recall notice, and how to conduct a VIN check.<\/span><\/p>\n

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Other features that you might want to note about MyAutoLoan is that it has no application fee, a very detailed FAQ, detailed guides on financing and getting better credit, an auto loan glossary, and a blog. <\/span><\/p>\n

However, you need to have a minimum income of $1,800 to qualify for a loan. There are also vehicle requirements. The maximum vehicle mileage is 100,000 \u00a0for private party loan offer types and 125,000 for all other loan offer types. The maximum vehicle age is 10 years old. Also, because MyAutoLoan will be providing your information to various lenders, be prepared to become inundated by calls from lenders and dealers. \u00a0<\/span><\/p>\n

<\/i> View Rates and Deals<\/span><\/a><\/div>\n

2. LightStream<\/strong><\/h3>\nBest Auto Loan For Good Credit<\/span><\/span><\/span>\u00a0If you have good to excellent credit (at least a credit score of 660), one of the best options for you is LightStream. This lender is an arm of SunTrust Bank and allows you to process your entire loan application online. And it promises to beat the competitors’ rates by 0.10% if it meets certain requirements.<\/span><\/p>\n\n\n\n\n
APR<\/strong><\/td>\nLoan Term<\/strong><\/td>\nLoan Amount<\/strong><\/td>\nHard Pull Credit Check<\/strong><\/td>\nMinimum Credit Score<\/strong><\/td>\n<\/tr>\n
New car purchase: 3.09% to 7.94%<\/span><\/p>\n

Used car purchase: 3.34% to 7.94%<\/span><\/p>\n

Private party purchase: 4.14% to 9.54%<\/span><\/p>\n

Refinance: 3.09% to 8.94%<\/span><\/p>\n

Lease Buyout: 3.39% to 10.04%<\/span><\/p>\n

(all with autopay discount)<\/span><\/td>\n

24, 36, 48, 60, 72 and 84 months<\/span><\/td>\n$5,000 – $100,000<\/span><\/td>\nYes<\/span><\/td>\n660<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Another great thing about LightStream is that it has no restrictions on vehicle age or mileage which means you can use the loan for both new and used cars. Plus, you can avail of their loans in all 50 states. Just keep in mind that this lender only allows online applications – email, fax, and phone applications will not be accepted. But because everything is online (even customer service is done all online), LightStream ensures that all customers are satisfied with their service. If not, you get $100 back.<\/span><\/p>\n

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Other things to note about LightStream is that it provides secured and unsecured loans. It doesn’t charge application, prepayment, or late payment fees. Co-signers are allowed. And processing is very quick. Once all the completed documents are submitted (2:30 pm ET), you can expect to receive the funds in your account within one business day. <\/span><\/p>\n

However, it will use a “hard inquiry” upfront which means that your credit score will get dinged. Applying to LightStream is not ideal for rate-shopping. You’d best be serious about accepting the loan when you get the offer. Also, LightStream may not have any restrictions on the customer’s minimum monthly income but it will base part of its rate on your income and assets. Another thing to note is that if you don’t enroll in AutoPay, the APR listed will increase 0.50%.<\/span><\/p>\n

<\/i> View Rates and Deals<\/span><\/a><\/div>\n

3. Capital One<\/strong><\/h3>\nBest Auto Loan For Bad Credit\u00a0<\/span><\/span><\/span>\u00a0If you have less-than-stellar credit, Capital One should be one of your options. A lot of borrowers with fair and bad credit can get decent APRs from this Fortune 500 company. That is, provided you have a minimum monthly income of $1,500 or $1,800, depending on your credit qualifications.<\/span><\/p>\n\n\n\n\n
APR<\/strong><\/td>\nLoan Term<\/strong><\/td>\nLoan Amount<\/strong><\/td>\nHard Pull Credit Check<\/strong><\/td>\nMinimum Credit Score<\/strong><\/td>\n<\/tr>\n
New purchase: 3.24% to 8.20% (depending on the credit score)<\/span><\/p>\n

Used purchase: 4.14% to 11.20% (depending on the credit score)<\/span><\/td>\n

36, 48, 60 and 72 months<\/span><\/td>\n$4,000 – $40,000<\/span><\/td>\nNo<\/span><\/td>\n500<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Aside from being willing to work with those that have a credit score as low as 500, this lender utilizes a tool that allows you to pre-qualify for a loan without your credit score getting dinged – the Auto Navigator\u00ae. Not only that, this tool also enables you to find cars from over 12,000 participating dealers. And you’ll get to see calculations on monthly payments and APR based on the information you provided.<\/span><\/p>\n

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You can even save the cars that fit your preferences so that you can access them easily as you make your decision. The Auto Navigator also allows you to adjust some of the terms so you can fit your monthly budget such as price, down payment amount, and loan term. With your personalized information in hand, you can present the dealer exactly what you’re looking for and start your negotiations there. You can make changes as you discuss things over and use the tool to make sure that you’re good with any of the adjustments you’ve made. \u00a0<\/span><\/p>\n

The Auto Navigator isn’t the only tool that you can use. Capital One also features a Car Payment Calculator that allows you to calculate the monthly payment you’ll be making based on the loan amount, APR, and terms you have. This is an especially insightful tool if you are able to get information on the average rates offered by various lenders without having to submit an application and get a hard pull on your credit. And there’s also the Learning Center which is chock full of articles ranging from finding the best car incentives and rebates to how to negotiate a deal.<\/span><\/p>\n

However, Capital One does have vehicle requirements. Mileage must not be more than 120,000 and the vehicle cannot be older than a 2007 model (in certain states, the model must be 2008 or newer). You also cannot use the loan to purchase Oldsmobile, Daewoo, Saab, Suzuki or Isuzu vehicles. <\/span><\/p>\n

Also, loan types are limited to new and used cars. If you want to buy out your lease or get a loan for a car sold by a private party, this is not the lender for you. Because the maximum loan amount is just $40,000, you might not get enough to cover the car you want. Plus, the dealer may charge you additional fees, including document fees, dealer preparation fees, and delivery charges.<\/span><\/p>\n

<\/i> View Rates and Deals<\/span><\/a><\/div>\n

4. LendingTree<\/strong><\/h3>\n

LendingTree works much like MyAutoLoan. It has a network of trusted lenders that it will connect you to once you complete their form. The beauty of such a service, as we’ve already mentioned, is the fact that you don’t have to shop around multiple sites and submit multiple applications when you can do all of that in this one-stop shop.<\/span><\/p>\n\n\n\n\n
APR<\/strong><\/td>\nLoan Term<\/strong><\/td>\nLoan Amount<\/strong><\/td>\nHard Pull Credit Check<\/strong><\/td>\nMinimum Credit Score<\/strong><\/td>\n<\/tr>\n
Varies based on lender; As low as 1.85%<\/span><\/td>\n12 to 84 months<\/span><\/td>\nVaries based on lender<\/span><\/td>\nYes<\/span><\/td>\nNone<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Aside from letting you apply for new and used car loans, LendingTree also has tools that you can use to help you figure out what car you can afford, how much your monthly payments will be, and if refinancing is in your best interest. With the Auto Loan Calculator, you even get to see the amortization breakdown (how much goes to interest and to the principal each year) and compare loan terms.<\/span><\/p>\n

\"lendingtree\"<\/p>\n

Because LendingTree is just a broker and not the actual lender, you won’t know about the vehicle restrictions until you get in touch with the lender. Also, your contact information will be distributed within its network so be prepared to deal with cold calls and spam email. Take note that the auto loan you get here cannot be used to purchase a car from a private party. You will need to apply for a personal loan if that is what you’re planning to do. One last thing to note is that not all the offers will be good or competitive. You may still need to do some legwork on your own.<\/span><\/p>\n

<\/i> View Rates and Deals<\/span><\/a><\/div>\n

5. Auto Credit Express<\/strong><\/h3>\nBest Auto Loan After Bankruptcy<\/span><\/span><\/span>\u00a0Auto Credit Express’ motto is Rebuilding America’s Credit. And it does so by helping those with poor credit to get the right financing by matching them with lenders and dealerships who are willing to give these individuals a change. This includes special-finance dealers. Whether you have a history of bad credit, no credit, bankruptcy, or repossession, you can be sure you’ll find a fair deal to help you buy that new or used car. And before you think that this lender is a scam, you’ll be happy to know that it has an A+ rating with the Better Business Bureau.<\/span><\/p>\n\n\n\n\n
APR<\/strong><\/td>\nLoan Term<\/strong><\/td>\nLoan Amount<\/strong><\/td>\nHard Pull Credit Check<\/strong><\/td>\nMinimum Credit Score<\/strong><\/td>\n<\/tr>\n
3.99% – 29.99%<\/span><\/td>\n36, 48, 60 and 72 months<\/span><\/td>\nNo restrictions<\/span><\/td>\nYes<\/span><\/td>\nnone<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

There are also other things that you might like about Auto Credit Express. First, it doesn’t have any vehicle requirements. You can get any old car you want. Second, you may be able to qualify for a $0 or low down payment even with your bad credit. You just need to be able to meet some qualifications such as having a minimum pre-tax monthly income of $1500. <\/span><\/p>\n

Aside from providing you access to decent auto loan offers, Auto Credit Express also provides you tools and resources to help you estimate your loan amount and monthly payment as well as to check your credit reports, how to fix it, and other bad credit loan options that you didn’t know were available to you.<\/span><\/p>\n

However, you need to make sure that you opt out of receiving additional offers from other vendors as well as from getting an offer for a credit monitoring service. It’s not easily noticed which is why a lot of customers who loved the service still complained about the amount of spam they received from other lenders. Also, you won\u2019t be able to get a loan here for purchasing a car from a private seller.<\/span><\/p>\n

<\/i> View Rates and Deals<\/span><\/a><\/div>\n

How to Choose the Best Auto Loan Provider: The Ultimate Buying Guide<\/b><\/h2>\n