Compare Auto Loans, Rates and Lenders

Key facts

Pros

• No vehicle restrictions.

• Provides rate estimates through website using a soft credit check.

• Offers rate discount with automatic payment.

• Provides online car buying service with discounted pricing and loan preapproval.

• Allows co-signers.

Cons

• Credit union membership required to get a loan.

• No rate discounts if using online car buying service.

• Social Security number required for online rate estimate.

Qualifications

• Credit union membership required to get a loan.

• No rate discounts if using online car buying service.

• Social Security number required for online rate estimate.

Key facts

Pros

• Competitive rates, with used car rates the same as new car rates.

• No vehicle or mileage restrictions.

• Finances purchases from private parties.

• Offers rate discount with automatic payment.

• Has loan experience satisfaction guarantee.

• No origination or late fees.

Cons

• Hard credit inquiry required.

• High minimum credit score required.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Yes. Details not disclosed.

• Maximum mileage: None.

• Maximum loan to value ratio: None.

Key facts

Pros

• Applicants can receive up to four lender matches with a soft credit check.

• Most lenders can provide approval within 30 seconds of application submission.

• Provides lowest daily rates on website, including used auto and private party purchases.

• Some marketplace lenders offer rate discount with automatic payment.

• Allows co-signers.

Cons

• May result in multiple contacts from different lenders.

• Social Security number required to submit initial application.

• myAutoloan.com offers limited customer service support.

• Not available in a few states.

Qualifications

• Minimum annual gross income: $26,100.

• Maximum debt-to-income ratio: Not provided

• Bankruptcy-related restrictions: Must be discharged or dismissed.

• Maximum mileage: 125,000.

• Maximum loan to value ratio: Not provided.

Key facts

Pros

• Offers pre-qualification with a soft credit check.

• Customer service available seven days a week.

• Borrowers can change their payment due date via the Carvana app.

• Application process 100% online including document upload.

• Minimum loan amount is lower than other lenders.

Cons

• Maximum APR possible is higher than many other lenders.

• Only finances vehicles sold through Carvana.

• Not available in all states.

Qualifications

• Minimum annual gross income: $4,000.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy-related restrictions: No active bankruptcies.

• Maximum mileage: Did not disclose.

• Maximum loan to value ratio: Did not disclose.

Key facts

Pros

• Pre-qualify with a soft credit check.

• Auto Navigator offers car shopping and loan pre-qualification by website or app.

• Charges no origination fee.

• Borrowers can choose loan payment due date.

Cons

• Not available in a few states.

• Must purchase vehicle at a participating dealership.

• Does not offer rate discounts for automatic payment.

• Social Security number required to submit initial application.

Qualifications

• Minimum annual gross income: $18,000.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Has restrictions but details not disclosed.

• Maximum mileage: 120,000.

• Maximum loan to value ratio: Did not disclose.

Key facts

Pros

• Offers pre-qualification with a soft credit check.

• Some network lenders offer rate discount with automatic payment.

• Borrower can choose loan payment date.

• Allows co-signers.

• Customer service available on Saturday.

Cons

• Loan approval takes 24-48 hours, longer than other lenders.

• Loan funding can take 1-2 weeks, longer than other lenders.

• May charge an origination fee. Amount not provided.

Qualifications

• Minimum annual gross income: Varies by lender.

• Maximum debt-to-income ratio: 50%.

• Bankruptcy restrictions: Varies by lender.

• Maximum mileage: 150,000

• Maximum loan to value ratio: 160%.

Key facts

Pros

• Apply online, by phone, in a financial center or at an authorized dealership.

• Offers rate discount for customers with qualifying account relationship.

• Usually provides loan decision within 60 seconds of application submission.

• Finances vehicles purchased from private parties.

• Provides Spanish version of website.

Cons

• Minimum loan amount is higher than other lenders.

• Social Security number is required to submit initial application.

• Rate discount available only with deposit balances of $20,000-plus.

• Won't finance vehicles purchased at independent dealers not affiliated with auto manufacturers.

Qualifications

• Minimum annual gross income: Did not disclose.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Did not disclose.

• Maximum mileage: 125,000.

• Maximum loan to value ratio: Did not disclose.

Key facts

Pros

• Offers a three-day window to replace CarMax financing with a better loan offer.

• Application process can be 100% online including document upload.

• Minimum loan amount is lower than other lenders.

• CarMax Auto Finance borrowers can select payment due date and manage their loan through the MyCarMax online platform.

Cons

• Maximum APR is higher than many other lenders.

• Only finances vehicles sold through CarMax.

• Does not offer pre-qualification with a soft credit check.

• Does not allow co-signers, only co-borrowers.

Qualifications

• Minimum annual gross income: Depends on CarMax finance source and application details.

• Maximum debt-to-income ratio: Depends on CarMax finance source and application details.

• Bankruptcy-related restrictions: No active bankruptcies.

• Maximum mileage: CarMax finances any vehicle in its inventory. CarMax doesn’t have a maximum mileage restriction for cars they purchase or acquire by trade-in, but high-mileage vehicles may be sold at auction and not become part of CarMax inventory.

• Maximum loan to value ratio: None.

Key facts

Pros

• Provides up to six offers with various rates and terms using a soft credit check.

• Minimum loan amount is lower than other lenders.

• Finances vehicles purchased from private parties.

• Offers online car buying service with discounted pricing and rate.

• Application process can be 100% online.

Cons

• Credit union membership required to get a loan.

• Must use PenFed online car buying service to get a rate discount.

• Social Security number required with initial application.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Did not disclose.

• Maximum mileage: 125,000.

• Maximum loan to value ratio: 125%.

Key facts

Pros

• Maximum vehicle mileage higher than other lenders.

• No maximum vehicle age.

• Has a 24-hour access consumer loan call center.

• Finances vehicles purchased from private parties.

• Offers two opportunities for discounts on already low rates.

• Allows co-signers.

Cons

• Submitting an online purchase loan application results in a hard credit inquiry.

• Credit union membership required to get a loan.

• Social Security number required with initial application.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: 60%.

• Bankruptcy restrictions: No bankruptcies in the previous 12 months.

• Maximum mileage: 250,000.

• Maximum loan to value ratio: 135%.

Key facts

Pros

• Offers pre-qualification with a soft credit check.

• Works with financing partners to find the best offer.

• Application process 100% online including document upload.

Cons

• Does not disclose range of estimated APRs.

• Only finances vehicles sold through Vroom.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy-related restrictions: None.

• Maximum mileage: Did not disclose.

• Maximum loan to value ratio: Did not disclose.

Key facts

Pros

• Offers rate estimates through website using a soft credit check.

• Takes applications online, by phone, in branches or at authorized dealerships in Illinois and Southern Wisconsin.

• Offers rate discount with automatic payment.

• Provides online car buying service with discounted pricing and loan preapproval.

• Allows co-signers.

Cons

• Credit union membership required to get a loan.

• No rate discounts if using online car buying service.

• Social Security number required for online rate estimate.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: No open bankruptcies.

• Maximum mileage: None.

• Maximum loan to value ratio: 125%.

Key facts

Pros

• Applicants can receive up to four lender matches with a soft credit check.

• Most lenders can provide approval within 30 seconds of application submission.

• Provides lowest daily rates on website, including new auto purchases.

• Some marketplace lenders offer rate discount with automatic payment.

• Allows co-signers.

Cons

• May result in multiple contacts from different lenders.

• Social Security number required to submit initial application.

• myAutoloan.com offers limited customer service support.

• Not available in a few states.

Qualifications

• Minimum annual gross income: $26,100.

• Maximum debt-to-income ratio: Not provided

• Bankruptcy-related restrictions: Must be discharged or dismissed.

Key facts

Pros

• Competitive rates compared with similar lenders.

• Offers rate discount with automatic payment.

• Has a loan experience satisfaction guarantee.

• No origination or late fees.

• Available in all 50 states.

• No vehicle restrictions.

Cons

• Hard credit inquiry required.

• High minimum credit score required.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Yes. Details not disclosed.

• Maximum mileage: None.

• Maximum loan to value ratio: None.

Key facts

Pros

• Pre-qualify with a soft credit check.

• Auto Navigator offers car shopping and loan pre-qualification by website or app.

• Charges no origination fee.

• Borrowers can choose loan payment due date.

Cons

• Not available in a few states.

• Must purchase vehicle at a participating dealership.

• Does not offer rate discounts for automatic payment.

• Social Security number required to submit initial application.

Qualifications

• Minimum annual gross income: $18,000.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Has restrictions but details not disclosed.

Key facts

Pros

• Offers pre-qualification with a soft credit check.

• Some network lenders offer rate discount with automatic payment.

• Borrower can choose loan payment date.

• Allows co-signers.

• Customer service available on Saturday.

Cons

• Loan approval takes 24-48 hours, longer than other lenders.

• Loan funding can take 1-2 weeks, longer than other lenders.

• May charge an origination fee. Amount not provided.

Qualifications

• Minimum annual gross income: Varies by lender.

• Maximum debt-to-income ratio: 50%.

• Bankruptcy restrictions: Varies by lender.

Key facts

Pros

• Apply online, by phone, in a financial center or at an authorized dealership.

• Offers rate discount for customers with qualifying account relationship.

• Usually provides loan decision within 60 seconds of application submission.

• Customer service available on Saturday.

• Provides Spanish version of website.

Cons

• Social Security number required to submit initial application.

• Rate discount available only with deposit balances of $20,000-plus.

Qualifications

• Minimum annual gross income: Did not disclose.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Did not disclose.

• Maximum mileage: 125,000.

• Maximum loan to value ratio: Did not disclose.

Key facts

Pros

• Application process can be 100% online.

• Has a 24-hour access consumer loan call center.

• Offers two opportunities for discounts on already low rates.

• Provides same-day or instant loan approval.

• Allows co-signers.

Cons

• Submitting an online purchase loan application results in a hard credit inquiry.

• Credit union membership required to get a loan.

• Social Security number required with initial application.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: 60%.

• Bankruptcy restrictions: No bankruptcies in the previous 12 months.

• Maximum mileage: 250,000.

• Maximum loan to value ratio: 135%.

Key facts

Pros

• Provides up to six offers with various rates and terms using a soft credit check.

• Minimum loan amount is lower than other lenders.

• Finances vehicles purchased from private parties.

• Offers online car buying service with discounted pricing and rate.

• Application process can be 100% online.

Cons

• Credit union membership required to get a loan.

• Must use PenFed online car buying service to get a rate discount.

• Social Security number required with initial application.

Qualifications

• Minimum annual gross income: None.

• Maximum debt-to-income ratio: Did not disclose.

• Bankruptcy restrictions: Did not disclose.

• Maximum mileage: Less than 7,500.

• Maximum loan to value ratio: 125%.