Top Auto Finance Lenders for Good and Bad Credit Scores
The entire process of finding a shiny, new vehicle that you want to buy can be very exciting; whether it is comparing different features, taking the vehicle for test drives, or that lovely all-new-car smell. This makes it all the more important that when it comes to signing the dotted line to get your car home, you do not sign the first loan you get your hands on. Such a mistake can get your car home quickly while setting you back financially by a great deal.
So, which are the best auto finance lenders that you can approach in the country in 2019 according to the credit score you have? The article below tells you just that. If you have credit scores that are in the range of good to excellent, head to these auto loan companies:
1. myAutoloan
This auto finance lender provides numerous types of loan products, such as refinancing an existing loan, lease buyouts, and even loans for third party purchases. The company gives buyers access to numerous handy tools to help them decide on the best loan product and also gives them a daily updated interest rate chart. Additionally, buyers can get customized interest rates, helping them determine exactly which car they can afford. Once the buyers have their ballpark interest rates, they can use the nifty auto payment calculator for figuring out their estimated monthly payment too.
2. CarsDirect
CarsDirect® is a one-stop-shop for buyers looking for all kinds of auto loans, as it accepts borrowers with all types of credit scores. The application process is as short as 60 seconds, and buyers receive numerous offers from multiple lenders post that. This is particularly helpful for those who wish to compare loan products sans filling out countless applications. Also, there is no limit on how much buyers can borrow via CarsDirect® and the size of the loans too.
3. LendingTree
LendingTree® allows buyers to shop around and compare auto loan offers from numerous lenders. Buyers will find options for lease buyouts, refinancing existing vehicle loans, and loans for new, as well as used cars. Buyers can also get loans and amounts approved prior to beginning shopping for vehicles, so they will know exactly what their budget is and how much they will be paying each month. High credit scores and shorter repayment periods are rewarded with LendingTree®. For instance, if a buyer has a credit score of 800+, then they will be qualified for a 36-month loan for as low an APR as 1.85%. This auto finance lender also offers buyers to compare loan offers for free.
Best auto lenders for bad credit
Have poor credit scores? Fret not, for here are some good auto finance lenders who work with people with poor credit:
- Auto Credit Express: Buyers can not only qualify with poor credit at Auto Credit Express but will also face fewer restrictions on the type of vehicle they can finance. There aren’t any mileage or age requirements, and the qualifying down payment amounts are low to even $0. Some basic qualifications, however, include a minimum pre-tax monthly income and answering questions about one’s employment.
- BlueSky Auto Finance: BlueSky Auto Finance collects numerous loan offers after buyers write out a single application. Apart from having relatively lax credit requirements, the company also looks for lenders who do not require the buyers to give any down payments.