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Top Car Loan Providers

Whether it is comparing features, going on test drives, or taking in the new-car smell, shopping for the perfect car, truck, or van can be an exciting time. At the same time, if you end up with the wrong loan or loan provider, it can also mean overpaying thousands of dollars. Read on as we explore the top car loan providers available in the market.

Consumers Credit Union

Consumers prefer credit unions, as compared to banks, as they often have lower interest rates. CCUs require that you pay a fee of $5 and keep a minimum amount in your bank account. In return, you can then avail of automobile loans for rates as low as 2.69% with fixed rates, mechanical repair coverage, and affordable installment options.

Oportun

While you wouldn’t get the low rates that CCUs can offer, with Oportun, you can rest assured that you won’t be overpaying. Loan amounts offered by Oportun can range from $5,000 to $35,000, ensuring that you can purchase the car you like. And most importantly, Oportun doesn’t involve stringent criteria to qualify for credit.

Capital One

If you prefer the backing of a serious financial organization with a household name, Capital One is your best bet. What’s more, if you’re in the marketplace for a replacement or used car, you can submit an application to be pre-qualified for auto financing through the bank’s Auto Navigator program.

OpenRoad Lending

OpenRoad Lending allows you to save an average of $100 per month on car payments with rates as low as 1.99%, subject to their eligibility criteria. The application process is also quite straightforward and completely online.

Carvana

Carvana is that perfect loan provider if you are looking for an entirely online process. With it, you can apply for an automobile loan, choose your car, and have it delivered, all without leaving the comfort of your home. And if you would like to trade in your old car, it can be picked up as your new car is being delivered. All of this with no minimum credit score requirements. Lastly, make sure to always do your due diligence before deciding to go ahead with any particular loan provider.