When it comes to finding a loan provider to buy a new car, it can be hard to know where to start. You want to make sure that you are getting the lowest interest rates, with no hidden fee’s or increases. The sad truth is that you can’t trust ever provider out there, so the best thing to do is to know what you are looking for in your loan and compare multiple options. To get you started, here is a list of the top auto-loan services and providers.
CarsDirect is known for being a service that sells car online, but it also has an informative and super customer-friendly portal for finding the best auto loans. After all, they want you to get the best loan, so you can buy a car from them. A huge perk for finding and applying for an auto loan through CarsDirect is that there is no minimum amount you can apply for. Most loan services have a minimum of around $5,000 which sometimes is unnecessary for the people who have a low down payment or are able to finance their car partially. This makes it possible to take only what you need and nothing more, which can cut the amount you pay back in interest tremendously. On top of offering a great place to find top-notch loans, they have a ton of resources to help you understand what you need in an auto loan.
If you have a good history of building credit, LightStream could be the right auto loan provider for you. With low starting rates around 3.34% APR, it’s hard to beat. LightStream is a branch of SunTrust Bank which is one of the countries most reputable financial institutions. They offer a painless and completely paperless loan application process. The LightStream auto loan application can be done online or via their app. Taking away the hassle of having to make an appointment, and possibly getting talked into taking a bigger loan. After applying the loan can be approved and funded within the same day you applied, making it a great option for when you need a quick and trustworthy loan provider.
3. U.S. Bank
As one of the largest financial institutions in America, U.S. Bank offers an array of loans with competitive interest rates. Its reputation as one of the most customer service orientated banks in the U.S. makes it a great choice as a loan provider. You can count of the bankers at U.S. Bank to help you make the best choice for you. Offering financial assistant in the auto sector such as loans for used cars (even from private sellers) and a green discount program which offers people who purchase cars that are more fuel efficient, discounts on interest rates. Their auto-loan process is painless as their website clearly outlines all of the possibilities, making sure that each prospective customer has the tools they need to understand what type of loan they need and the rates that they can receive them at depending on their credit.