Regardless of your credit situation, there are several car refinance companies that can help you finance your new vehicle. LightStream, Bank of America, RateGenius, and OpenRoad Lending are some of the most popular companies that offer refinancing services. These companies are known for their competitive rates and easy application processes.
LightStream
LightStream is a car finance company that approves individuals with good or excellent credit. Its rates vary, however, depending on your credit history, income, and other factors. LightStream is accredited by the Better Business Bureau (BBB) and has an A+ rating. Its webpage also allows you to choose the payment method you want – either monthly or on an invoice. If you opt for the latter option, the interest rate will be slightly higher than if you choose the former.
Typically, Lightstream car loan rates vary depending on your credit score, but they are generally the same across the United States. The rates may vary a bit, though, if you live in a state with a different financial climate. You can also save money by refinancing your Lightstream loan after six, twelve, or 18 monthly payments.
To be considered for a loan with LightStream, you must have a minimum FICO credit score of 660. This credit score reflects your ability to repay your loan. Most applicants will have several years of credit history and multiple types of accounts. To qualify for the lowest rates, you will need to have an excellent credit history. You cannot apply for an account pre-qualification process with LightStream, so you will need to apply for a loan and undergo a hard credit check.
Another great thing about LightStream is their speed of processing your loan. You can complete the application process completely online and receive your funds on the same day. You can also sign the loan agreement electronically, avoiding the need for an appraisal. You can receive your loan funds the same day if you apply by 2:30 p.m. Eastern Time.
Bank of America
Bank of America offers a variety of auto loans and refinancing options for consumers in the United States. Their auto loan options are convenient and flexible, and they also offer competitive rates. If you already have an account with the bank, you may also qualify for additional discounts. And if you want to refinance your vehicle, you can use their online application process to apply for a loan or refinance your current vehicle.
You can apply for a car refinancing through Bank of America even if you already have an auto loan with the bank. You can apply online or through their mobile app, and you can also make one-time payments by phone or in person. Once you’re approved, you can set up automatic payments through your bank. You can also enroll in online bill pay to make your payments automatically.
Bank of America also has a reputation as a customer service leader. Customers typically mention the friendly staff and their easy-to-use mobile app for making and tracking payments. However, it’s important to note that the company has some negative reviews, and while most do not mention auto refinancing specifically, they do mention other negatives. Customers’ complaints include frequent disputed charges and overdraft fees that aren’t reimbursed.
Bank of America auto loans are widely available and offer competitive rates. In addition, their loan process is easy and fast. They also offer 30-day free shopping periods, so you can compare auto loans from other lenders. Whether you want to refinance your car loan or buy one, Bank of America offers financing for most vehicles in all 50 states, and they charge no origination fees or application fees. You can also enjoy a discount if you’re already a bank customer. For example, if you have a personal checking account with them, you’ll get a 0.15 percent discount on your loan.
RateGenius
RateGenius is a car finance company that matches applicants with lenders that offer refinancing deals. The company takes several factors into consideration when evaluating applicants, including their credit score, household income, and vehicle details. RateGenius also performs a hard credit pull to determine the applicant’s creditworthiness.
Customers can apply for a loan with RateGenius through two methods: the Get Pre-Qualified Tool or the Online Application. The first option does not involve a credit check and lets you apply online. The second option does, however, involve a credit check. The pre-qualification tool only has a few questions, but links to a full application.
RateGenius works with over 150 lenders in the U.S. and offers a variety of finance options, including lease buyout loans. Unlike many auto finance companies, RateGenius does not offer auto purchase loans, but does offer refinancing and lease buyout loans. Because of its wide network of lenders, RateGenius is a great choice for individuals with less-than-perfect credit.
RateGenius offers a variety of refinancing options and competitive rates. The loan term can range from 36 to 84 months. Longer terms may make the monthly payments more affordable, but the interest will be higher. RateGenius also offers cash-out refinancing, though cash out refinancing has certain disadvantages. As with any refinance loan, you should consider all options before making a final decision.
RateGenius offers auto loans to applicants with various credit ratings. Applicants with poor credit can apply for a loan with 9.39% APR. Applicants with a FICO score of 639 or less can apply for a loan with RateGenius.
OpenRoad Lending
OpenRoad Lending is a nationally known auto loan provider that uses digital platforms to process applications. This allows consumers to complete the loan application from the comfort of their home. This also reduces human error and avoids the expenses of printing and storing paper forms.
If you’re looking to refinance an existing auto loan, OpenRoad Lending may be the best choice. The company’s auto refinancing loans have low interest rates and flexible repayment options. The company also offers a cash-back refinance option for qualified borrowers. However, you need to make sure that you have a strong credit history to qualify.
The application process is quick and easy with OpenRoad Lending. All you have to do is fill out a short online application and provide basic personal information. Within an hour or two, an agent will review your application and get back to you. Once approved, you’ll receive an email confirming the terms of your offer. You won’t have to make a payment until 45 days after you’ve received the loan.
OneMain Financial is another excellent option for auto loans. It’s been in business for over a century and offers both refinancing and purchase loans. This company also offers a low interest rate and no prepayment fees. They can approve your application on the same day.
LendingTree
The LendingTree car finance company matches you with a lender based on your individual situation. The lenders on LendingTree will ask you how much money you want to borrow and what type of car you want. If you have a low credit score, the lender may not accept your loan request. However, if you have a decent credit score, the lender will be happy to work with you.
As an online lender, LendingTree is able to provide loans with varying interest rates and terms. The application process is easy, taking only a few minutes. Once you’ve submitted your information, you’ll get quotes from multiple lenders within 24 hours. LendingTree offers a variety of different loan types, including personal loans, business loans, and auto loans.
LendingTree offers competitive car finance rates and a personalized approach. To qualify, you must have a credit score of 500 or higher, be a resident of the United States, and be at least 18 years old. Their process is easy, and they compare loans from multiple lenders, so you can find the best deal. You can also use the site to refinance your existing car loan or apply for a new one.
When you apply, LendingTree performs a soft credit inquiry and shows you the lenders who can make you an offer. You can then compare interest rates and monthly payments from different lenders. If you’re accepted, you’ll be required to submit income proof and other details, which will result in a hard credit inquiry. The final offer may differ from the pre-qualification offer, so it’s essential to be truthful in your application.
LendingTree’s car finance company reviews provide information about the customer service, interest rates, and overall experience. The website also features a payment calculator to determine how much you can afford to pay each month. Make sure your monthly payment amount is below 10% of your income. Applying for a loan on LendingTree takes just a few minutes.
