Thursday, November 26, 2020
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4 Best Auto Loans for Buying a Car

Planning to get a new or used car? If your funds aren’t that healthy to get one paid in full upfront, you may want to consider applying for an auto loan to get that dream car of yours. And if you are, you may want to ensure you get the best auto loan available. If so, check out our top 4 best auto loans below.


Best known as a car-buying service, CarsDirect also provides a portal to get the best auto loan there is. What’s best about CarsDirect is that it offers a wider range of consumer-friendly information like a loan calculator as well as a trade-in-value calculator which are two useful tools that every customer should have access to.

Another thing we like about CarsDirect is that there’s no minimum or maximum amount for which you can apply, unlike other companies. It’s worth mentioning though that you may be receiving a lot of sales calls and even emails from interested lenders even after your search for auto loan offers is over.


MyAutoLoan is another marketplace that connects customers with lenders for all major loan types. Moreover, it also allows applications for lease buyouts. 

What we like about MyAutoLoan is that is has a quick turn-around on the pre-approval process and there is no application fee. The downsides, however, is that your minimum monthly income must be $1,800 or your annual income must be at least $21,600 and that like CarsDirect, your contact information could be shared to potential lenders.


OneMain financial is known for being a stable and trusted lender that has served over 10 million customers. They’re very responsive online and offers courteous service to their customers and is very willing to grant auto loans to folks with less than perfect credit. It’s worth noting though that their rates aren’t as competitive as others on this list.


ClearLane is another marketplace that can match you with a perfect lender. The interface is refreshingly easy to use and straightforward. What’s good with this one is that they are able to quickly provide useful information. Application is quite easy. After filling out anonymous forms, you’ll be presented with an estimate of what you qualify for and what you’ll have to pay in case you got approved for the loan.

We like that we immediately get valuable loan insights even without a hard credit pull as well as knowing that it is powered by Ally Bank which is a respected institution. Major drawbacks though are;

  1. Funding may take longer than their competitors.
  2. Income requirement is $2000 per month for you to get the best rates.

So that’s it! Be sure to check them out and see for yourself which among those could get you going. Good luck with getting your new car.