Best Auto Loans 2017

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Auto loans are loans used to purchase a new or used car, or to buy out an existing lease. The borrower obtains money from a lender, and pays the lender back over time, with interest. The interest rate affects what the monthly payment for the car will be. Until the last payment, the borrower doesn’t receive the title to the car or own it outright.

Before going to the dealer, it’s best to shop around for different auto loans, to be sure what you can afford. Credit score is the single most important factor on the interest rate you’ll obtain for your loan, but if your loan term is short, this can also help you pay less in the long run. Be aware, however, that compressing your payment into a shorter period will increase the monthly amount.

In order to qualify for an auto loan, most lenders require evidence of employment, and residency, as well as your credit score. The specifics of each loan will vary according to specific circumstances such as the loan amount, extended warranty requirement, loan term, down payment requirement, and annual percentage rate of change (APR). Finally, some car dealers will attempt to tag on extras such as rust-proofing, fabric protection, and security systems. If you roll these costs into your loan, the interest means you’ll pay more for these upgrades in the long run.

Finally, consider the following: Is there a prepayment penalty? Are there origination fees? Can payments be made online?

Top 9 Companies

#1
AUTOPAY
Our Partner
9.7 / 10
  • Refinance Your Car - A+ BBB Accredited
  • Submit online application and sign electronically
  • Applicant-to-lender matching and loan coordination
  • Get loans from $2,500 to $100,000
  • APR as low as 1.99% for qualified applicants
  • Qualification credit of 640+ required
#2
LendingTree
Our Partner
9.6 / 10
  • Refinance or Purchase a New or Used Car
  • A+ BBB Accredited Company
  • Their lenders have solutions for most credit situations.
  • Get up to 5 offers from competing lenders!
  • Complete simple and secure online form in minutes.
  • Save on your current or new monthly car payment.
  • When banks compete, you win!
#3
RATEGENIUS
Our Partner
9.5 / 10
  • Compare 150+ car loan refinancers
  • Get the best rates from lenders across the country
  • Over 300,000 loans funded
  • A+ with the Better Business Bureau
  • Save on auto, RV, Boat, home insurance as well!
#4
LightStream
Our Partner
9.5 / 10
  • Fixed rates as low as 2.19% APR with AutoPay
  • Rate Loan Calculator
  • $100 Loan Experience Guarantee
  • Apply for an Auto Loan Online
  • Online Account Management
  • Wide Selection of Vehicle Loans
#5
BarNone
Our Partner
9.4 / 10
  • Start your approval process in as quick as 60 seconds
  • Safe and secured online application
  • Select the car of your choice: Buy, Used, or Lease New
  • Auto loan calculator available
  • Multiple “Zero Money Down” auto loan programs offered
  • Completely free service
#6
myAutoloans
Our Partner
9.3 / 10
  • Quick and easy online application
  • Get up to 4 offers in minutes
  • Auto loan refinancing
  • Dealership finder
  • Used cars up to 8 years old
  • No credit score required
  • Fast approval as quick as 24 hours
  • Partnered with over 400 lenders and dealers nationwide
  • Auto financing regardless of your credit situation
  • Competitive auto loan rates
  • Auto loans for new and old vehicles
  • Auto financing for new or used cars
  • Refinance current vehicle or lower your rate
  • All credit types are welcome
  • Free loan matching service
  • Fast response during business hours
  • Qualify even with low income
#9
MaxCarLoan
Our Partner
9.2 / 10
  • Get approved in minutes
  • Auto loans for new or used cars
  • Large network of auto dealers and direct lenders
  • Access to hundreds for potential loan options
  • No obligation and application fees
  • No minimum credit score required
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Best Auto Loans: Summed Up

RankCompany NameStrengths
1AUTOPAYBest Overall
2LendingTreeTypes of Loans
3RATEGENIUSTypes of Loans

How We Compare Auto Loans

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Types of Loans - 25%
Application - 20%
Qualification - 25%
Loan Details - 30%
Editor's Choice
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