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Auto Loan | Top Companies: This Week's Reviews |
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| Services Offered:
Auto loan for all credit types. |
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| Company Overview:
Any Credit Auto Loans specializes in providing loans to
consumers with bad credit for auto purchases or personal
loan needs. They are an internet based company, which
allows them to pass their savings from low operating
costs onto the consumer. They have been in business
since 2004, and are generally able to process your loan
in 24-48 hours. |
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| Our Review: Any
Credit Auto Loans offers a simple, easy to navigate
website for consumers. In addition, they offer great
options for all auto loan needs, regardless of financial
situations or credit history. |
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| User Review: I
filed for bankruptcy last year, but then my car blew up
and I was left stranded. Any Credit Auto Loans was able
to help me get approved for an auto loan regardless of
my credit, and now I’ve got a great, reliable car. I
never thought I’d be able to get a loan so soon, but Any
Credit Auto Loans was great. |
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| Services Offered: Auto Loans, Auto Refinance |
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| Company Overview: DriverLoans.com is a subsidiary of Modern Consumer, Inc. They were formed to provide 60 second auto loan decisions to consumers of all backgrounds. They are the number one online auto financing company, and they affiliate with hundreds of the top lenders in the industry to find the best deals for consumers. |
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| Our Review: DriverLoans.com is definitely worth checking out if you need an auto loan. Even if for no other reason than in 60 seconds you can have an auto loan approval in your hands, they should be considered. Their website is simple and easy to navigate, and customer service is always readily available. |
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| User Review: I had a car repossessed a few years ago because of some financial troubles, and never thought Iíd be able to get another auto loan. However, I came to driver loans.com and found exactly the loan that I needed. I actually got a few different offers from them, and all of them were affordable. And when I had questions, their customer service team was very helpful. |
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| Services Offered: Auto Loan, Auto Refinance |
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| Company Overview: HSBC was founded in 1865 and is now one of the largest financial services companies in the world. They have over $1.2 trillion in assets. HSBC offers auto loan direct to the consumer as well as buying loans from dealers in 47 states throughout the U.S. Auto loan applications can be submitted 24 hours a day via the web site. HSBC also handles auto loans for their subsidiaries, HFC and Beneficial. |
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| Our Review: HSBC is a great asset to the financial services market. When companies get this big, and have trillions in revenue, there’s a reason for it. If their business was bad business, they wouldn’t have lasted almost 150 years. So we say go for it. HSBC auto finance is a great program, and open to anyone with any kind of credit history. |
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| User Review: I recently purchased a truck from my local dealer, who got me the loan from HSBC. I’ve only had the loan for a couple of months, but I am pleased with the service so far. Plus, they’ve already changed my payment date to better accommodate my needs, and offered to refinance any other vehicles I had at a lower interest rate as part of their preferred customer program. |
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| Services Offered: New and Used Auto Loan, Auto Refinance, Lease Buyout |
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| Company Overview: MyAutoLoan.com was founded in 2004. They are an entirely e-commerce based company, and offer affiliation with some of the top lenders in the nation for auto loans. Their parent company, Horizon Digital Finance, LLC was established in 2003 to provide direct-to-consumer financing for auto loans, motorcycle and RV loans, and even mortgages. The company is a recognized leader in the online lifestyle financing process, bringing the choice back to consumers. |
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| Our Review: We like choices for consumers, which is probably why we like this company. Customer service contacts are readily available, however it is all e-mail based. If you go to the “about” section, you will find a contact phone number, but not many people are going to look there, so it might be hard to find. For those who want the availability of customer service via phone, this might not be the best choice. |
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| User Review: I filled out an application at myautoloan.com just to see what kind of rates were available to me before I even went car shopping. Once I found out that one of their lenders was willing to give me an auto loan for 6.5% even though my credit isn’t perfect, I immediately went out and bought the car of my dreams, just because I could finally afford it. And when the dealer told me the interest rate if I financed through them would be 8%, I smiled and handed him the check from myautoloan.com. |
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Other Top Companies for Auto Loan : |
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| How To Select The Best Company For Auto Loan |
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Most people don’t worry about finding their own auto loans. Instead, they rely on the dealer to get them approved for financing through a lender that is chosen by the dealer. In today’s e-commerce society, it is too easy to be an informed consumer. Before you even tell the dealer you’re interested in a car he has to sell, you should go online and research auto loan rates for yourself. Many times you will find that a company you apply with will offer you a much better rate than the dealer ever will. Most auto loan companies that are found online are direct-to-consumer loans, therefore they will have lower rates and less overhead because it cuts out the middleman. Instead of just taking the offer that the dealership gives, you should take the time to research your options, but be sure not to fill out too many applications, because every company you apply with for an auto loan will have to pull your credit, and the more times your credit report is accessed, the more your credit score will go down. However, what most people don’t realize is that auto dealers only work with a specific number of companies, and most are local banks that only offer low rates to those with perfect credit. Instead of getting suckered into a high interest rate for that shiny new car, strike out on your own, go in with a check from the auto loan company that offered you the best deal, and then when the auto dealer tries to tell you about their financing rates, if they are higher than what you were offered, just let him know you’ve got your own. Sometimes they will try to find a comparable rate with one of their companies, so that they get the association and loan commissions; other times they’ll just take your financing as payment. Either way, there is far too much accessibility to information in today’s e-commerce world for a consumer to walk into an auto dealership uninformed. Do your research find the best auto loan rate, and then go shopping.
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