MyAutoLoan.com
Best marketplace for multiple competing offers
MyAutoLoan matches you with up to 4 lenders simultaneously from one application, letting you compare competing offers without multiple hard inquiries. This price competition consistently produces better rates than applying to one lender at a time.
Pros
- 4 competing loan offers simultaneously
- 575 minimum credit score
- Both new and used car loans
- Refinancing available
Cons
- Not a direct lender — experience varies by matched lender
- $5,000 minimum loan
- Some lenders in network have additional fees
Capital One Auto Finance
Best for knowing your rate before visiting the dealership
Capital One's Pre-Qualification tool (soft pull) tells you your rate and maximum loan amount before you step foot in a dealership. This removes the informational advantage dealers use to upsell financing.
Pros
- Pre-qualification without credit hit
- Know your rate before the dealer
- Large dealer network
- Competitive subprime rates
Cons
- Can only use at Capital One partner dealers
- No direct-to-consumer car purchase
- Rate may change between pre-qual and approval
The credit union advantage
Credit unions typically offer auto loan rates 1-3% lower than banks and dealerships for the same credit profile. Before buying, check rates at your local credit union and at PenFed Credit Union (open to anyone). Getting a pre-approval from a credit union gives you leverage against dealer financing.
| Lender | Min Score | APR Range | Best Feature | Loan Types |
|---|---|---|---|---|
| MyAutoLoan.com | 575 | Varies | 4 competing offers | New & used |
| Capital One Auto | 600 | Varies | Pre-qual without credit hit | New & used |
| Carvana | No min | Varies | Online car + loan together | Used only |
| PenFed Credit Union | 650 | 5.24%+ | Lowest rates for fair credit | New & used |
| RoadLoans | No min | Varies | Accepts very poor credit | New & used |
Calculate your monthly car payment
Our Loan Payment Calculator shows total interest cost and monthly payment at any rate — compare your options before buying.