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Car.Loan.com Auto Refinance Review


ConsumersAdvocate.org Rating: 3.8 / 5 (Very good)
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Car.Loan.com is an online auto loan marketplace operated by Internet Brands, a California-based business solution company. Cars.Loan.com's easy-to-use website is a suitable option for borrowers hoping to find their dream car but who are burdened by either no credit or bad credit.
 
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How is Car.Loan.com rated?

Breakdown

3.5/5
Loan Details
4.0/5
Customer Experience

Overall Rating: 3.8 / 5 (Very good)

Managed by the California-based Internet Brands, Inc., Car.Loan.com is an online marketplace that helps potential borrowers find a lending option for car purchases. The free to use, no-frills website allows users with bad credit, previous bankruptcy, or no credit history to connect with lenders and car dealers in their area. Rates and terms vary by lender and will very much depend on vehicle type, geographic location and, particularly, the borrower’s credit history.

Auto Loans & Refinancing

Loan Details - 3.5 / 5

As a marketplace, Car.Loan.com does not extend loans directly. Instead, they connect users to lenders and dealers from their area, allowing borrowers to compare prices and rates. For this reason, the website does not offer any sort of information regarding the types of loans, their APR (though Car.Loan.com states that it ranges from 0% to 25%), or minimum/maximum amounts. All this information is gleaned once the online form is completed and the customers are connected to the dealers. The website states that it does not guarantee approval and that decisions and terms will vary depending on the lender.

Loan Qualifications

Qualification - 4.5 / 5

There are certain minimum requirements to use Car.Loan.com and request loan offers. Users must be at least 18 years old, a U.S. citizen with a valid address, and have a fixed income. The website does not ask for any documentation since it only connects users to local lenders (who might request additional information during the loan process). Car.Loan.com does promote itself as a compelling option for borrowers with no credit score or previous bankruptcy history.

Borrower Qualifications

Minimum Age
18
US Citizenship Requirement
Yes

Application & Service

Customer Experience - 4 / 5

To receive lender offers, borrowers will need to fill out a simple online form. However, this form requests highly sensitive information including the user's social security number, date of birth, and monthly income. Since Car.Loan.com is a marketplace, decisions regarding approval and the loan terms will vary depending on the participating lender or dealer. The website does not charge any type of fee for its use. However, borrowers are urged to scrutinize the dealer's terms, conditions, and requirements for repayments. Additionally, by completing the form, users are consenting to possible hard credit inquiries.
Benefits/ Features
Online Rates

Car.Loan.com Reputation & Reviews

Reputation - 4.5 / 5

Car.Loan.com is not rated either in the BBB or Trustpilot. Online reviews are basically non-existent. The company that manages the website, Internet Brands, does appear in the BBB but it is not accredited or rated. Car.Loan.com does have links for their Terms of Use and Privacy Policy so users can try to understand what they're getting into. By completing the online form, potential borrowers are asked to provide sensitive information including address, phone number, date of birth, social security number, place of work, and monthly income. Users are also authorizing Car.Loan.com to distribute their information to participating lenders and dealers, as these will contact customers either through email, phone call or text to offer their rates. During this process, lenders can perform a credit check on the borrower. Although information provided by the user is encrypted and handled in a secure manner, customers are advised to look through terms and policies to understand the possible implications of providing this type of information.
Date Collected
2018-07-18

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
https://car.loan.com/
Company Phone
(800) 692-2200
Headquarters Address
909 N. Sepulveda Blvd., El Segundo, CA, 90245
Year Founded
1994

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