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BowhunterNJ

Used Auto Loan

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Anyone have any recommendations for a used auto loan lender?

Most banks seem to require going through a dealer to get their loans (i.e. I can't see their actual rates unless a dealer shares them versus padding a percentage).

I see Capital One (https://www.capitalone.com/auto-financing) has used auto lending, and Lighstream aka SunTrust Bank (https://www.lightstream.com/used-car-loans) have options.

Any others out there?  Trying to run all the credit checks in a batch.

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Do you have a credit union? I have riegel fed credit union and that's who I get my loans from very good interest rates.  You might need to start account there to get one though

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Just now, Septicdude said:

Do you have a credit union? I have riegel fed credit union and that's who I get my loans from very good interest rates.  You might need to start account there to get one though

 

LOL you beat me to it.

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Agree with the credit union option.  Are you a vet or know a vet?  I am member of Navy Federal Credit Union and have borrowed from them before, it’s always been hassle free.  I’ve also borrowed from USAA as well, another easy option if you are eligible for membership.  We can always say you are my brother if need an endorsement for membership 😎.  

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Credit unions are the way to go. That said, one time I actually did better with dealer financing. Probably not the norm though.

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Have you tried peer-to-peer lending sites like Lending Club - I have never done it but I have been reading about them.  just an idea...

 

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I just reached out to a friend of mine in the business, he said dealer would only finance a car the dealer owns.

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I'll check with PNC too! :up:

And in the process of checking out local credit unions! :up:

Haven't heard of the Lending Club, will look at that as well.

Thank you all!

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