Auto Loans Review

If you’re ready to shop for a new or used car but want to get your financing lined up before you do, may be what you’re looking for. Keep reading to learn how it works, what kind of loan terms you’ll get, and who is best for.

APR Range
Max. Loan
12–84 months
4.3 / 5.0
SimpleScore RoadLoans 4.3
New Car Rates 5
Loan Size 5
Used Car Rates N/A
Customer Satisfaction 2
Fees 5 is an online lending platform that offers auto loans for new or used cars as well as auto loan refinancing. While the company doesn’t offer any loans itself, works with third-party lenders that offer car loans at more than 14,000 auto dealerships nationwide.

Check Your Auto Loan Rates

View our top-rated lenders and find the best rates today. It’s quick and easy.

In this article Auto Loans: Key Takeaways

    • Apply for a new or used car loan or refinance an auto loan you already have.
    • works with CarMax, LendingTree, and, among other companies.
    • Cash back refinancing is available to consumers in some states, but not all.
    • Loans are offered in amounts between $5,000 and $75,000 in most states.
    • Minimum loan amounts are $10,001 in Arizona, $6,000 in California, and $6,001 in Massachusetts.
    • Loan terms are offered between 12 and 84 months.
    • Interest rates vary by lender. Review: One-Stop Shop for Auto Financing may not offer any loans on its own, but it does serve a helpful purpose for consumers. You can use one website to shop around and compare auto loans from more than one lender, and they even offer a tool that helps you find auto dealerships they work with in your area.

    There are a few minor restrictions that limit who can use this platform, however, and the type of car you can finance with a auto loan. For starters, you have to be 18 or older to apply, and you have to be willing to borrow between $5,000 and $75,000 in most states. The vehicle you plan to purchase must have a clean and clear title as well.

    For used car loans through, vehicles must be 9 years old or newer and have less than 120,000 miles on them. For auto loan refinancing, your car must be 7 years old or newer and have fewer than 105,000 miles.

    What to Watch Out For

    While seems to offer loan options that are fairly cut and dry, it’s important to note that won’t be your lender in the end. This platform connects consumers with auto loans from a variety of lenders while helping push them toward dealerships in the same network.

    For that reason, you’ll want to be careful to read all the fine print and loan terms for the auto loan you end up with. You may be asked to pay a loan origination fee, for example, and you should ask about prepayment penalties and any other fees you may be assessed.

    Another downside of is the fact they aren’t very transparent about loans offered through their platform. You have to do a lot of digging on their website to find any real information about their partner loans online, and even then, there’s plenty of information that’s not available at all. For example, they don’t list any interest rates on their website. For that reason, it’s hard to know if their loans are a good deal or not until you fill out an application.

    Finally, doesn’t let you get pre-qualified for a loan through their website without a hard inquiry on your credit report which may not be ideal for someone looking for a bad credit auto loan. You have to fill out a full loan application with your Social Security number to find out if you qualify, and if so, what interest rates you’ll be asked to pay.

    Who is Best for

    • Someone with good credit who wants to compare multiple auto loan offers in one place.
    • Someone who wants to purchase or refinance a newer car (less than 9 years old for purchases and less than 7 years old for refinancing) versus an older one.
    • Consumers who want to get their auto loan financing lined up before they visit a dealership.

    How to Apply for a Loan through makes it easy to apply for an auto loan, and they are clear that “all credit types can apply” even though they’re not transparent about the loan terms borrowers can qualify for.

    Getting approved for one of their loans online is as simple as offering the following information in your loan application:

    • Your name
    • Email address
    • Desired loan type (purchase or refinancing)
    • Phone number
    • Home address
    • Date of birth
    • Social Security number
    • Annual income doesn’t charge loan application fees on their end, although you may be charged lender fees by the lender you work with. You can also get an instant decision online, then take your approval letter with you to the dealership. Once you find a car you want to buy, your dealership can work with your lender to line your financing up and get you on the road.

    Check Your Auto Loan Rates

    View our top-rated lenders and find the best rates today. It’s quick and easy.



    We’ve created the SimpleScore™ to help you objectively compare products and services here at The Simple Dollar.

    Our editorial team:

    • Identifies five factors to compare across each brand
    • Determines the rating criteria for each factor
    • Calculate an average of those five factor scores to get one SimpleScore™

    We break down each of these five factors and their rating criteria for our review of the best auto loan companies of 2020.

    Why do some brands have different SimpleScores™ on different pages?

    Some brands like Bank of America, Wells Fargo, and Chase have different SimpleScores™ because they offer more than one financial solution — like auto loans, home loans, personal loans and banking.

    For instance, in our Bank of America Mortgage Review, we give the company a 3.8 out 5 based on our five rating factors for mortgages. In our Bank of America Auto Loans Review, we give the company a 4.4 out of 5 based on our rating factors for auto loans. By tailoring our SimpleScore™ to each financial solution, we’re able to give you a more accurate view of their services and how they compare to competitors’ services.

    Minimum new car rate

    Companies that look out for new car buyers with lower rates receive higher scores from us.

    Minimum used car rate

    We also give higher ratings to companies that look out for used car buyers by offering lower rates.

    Maximum loan size

    Having enough money to cover your auto loan is important –– that’s why companies with higher maximum loan amount receive better scores from us.

    Customer satisfaction

    We use the J.D. Power 2019 Consumer Lending Satisfaction Study℠ to find out how customers rate their experience with each company. (If a company is not included in J.D. Power’s study, we skip this rating factor and average the remaining factor scores.)


    Fees can add up very fast –– that’s why we give a higher score to companies who have fewer fees.

    Holly Johnson

    Contributing Writer

    Holly Johnson is a frugality expert and award-winning writer who is obsessed with personal finance and getting the most out of life. A lifelong resident of Indiana, she enjoys gardening, reading, and traveling the world with her husband and two children. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. Holly also owns Club Thrifty.

    Reviewed by

    • Courtney Mihocik
      Courtney Mihocik

      Courtney Mihocik is an editor at The Simple Dollar who specializes in insurance, personal finance, and loans. Previously, she wrote and edited for,, Ballantyne Magazine, Thread Magazine, The Post, ACRN, The New Political, Columbus Alive and the Institute for International Journalism.