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5 popular used car loan providers

5 popular used car loan providers

Shopping for a used car can be a tricky process. With factors like the make, model, and mileage of the car to consider, you also need to look around for good used auto loans. The best way to accomplish that would be to go online and look for the best used car loan rates available and get preapproved for the most attractive offer that you may be eligible for.

The application process for applying for a used car loan is relatively simple to fill out. You will need to fill in details about yourself, the information about the vehicle that you want to buy and financial information. Scroll down to take a peek at the best used car loans available in today’s market:

  • Lending Tree: As soon as you fill out the application with Lending Tree, you can see the real interest rates and approval information immediately. Lending Tree brings together hundreds of lenders ready to compete for your business.
  • LightStream: You are eligible to get used car loans on LightStream with APR’s ranging from 2.49% to 9.29%. They do not charge an origination fee and can finance up to $100,000. You can get preapproval online and you could receive the funds into your account in as little as one business day.
  • PenFed: Pentagon Federal (PenFed) Credit Union offers rates as low as 2.99% on used car loans. But you will need to join the union in order to get the loan because PenFed is a credit union. Anyone can join the union by making a onetime contribution of $14 to Voices for America Troops.
  • Capital One: Capital One offers car loans with rates as low as 3.94% for used cars. You can get preapproved online and can then proceed to use the funds at any of the 12,000 approved dealers.
  • NEFCU: NEFCU is a credit union that offers used car loans with rates as low as 2.240%. They do not, however, offer online preapproval and you also need to be a member in order to be eligible to get the loan.
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