An instant auto loan grants you an approval for your next car purchase in less than an hour in most cases—if you meet certain minimum criteria. Yes, regardless if you have a great or a dismal credit history, instant auto loan companies usually help you find a car loan quickly.
Not all instant auto loan companies are the same and some online instant car loan sites are definitely better than others. Comparing things like interest rates is very important when seeking a new or used auto loan and often instant auto loans are willing to offer you the best rates depending on your credit rating. If your credit rating is poor, you may still be able to get an instant auto loan but you may be limited to purchasing a good quality used car instead of a new one.
With that in mind, here is a list of some of the best instant auto loan companies.
CarsDirect is not only one of the best instant auto loan companies, they are by far one of the best and most comprehensive car buying sites on the Internet. CarsDirect can help you apply for quick financing—they almost always give you a definitive answer in less than an hour. Their 24-hour online operators are second to none when it comes to great customer service and can help you apply for a loan, choose the right vehicle and even help you get car insurance.
Although not usually as quick at getting you a credit decision as CarsDirect, LendingTree.com is another excellent source for instant auto loans. The LendingTree.com website will allow you to submit a credit application and get offers from several lenders at once. Lending Tree offers loan programs for people with credit scores that range from “just plain horrible” all the way to “good as gold”. Founded in 1996, Lending Tree is one of the largest and oldest lending sites on the Web and has helped millions of people..
E-LOAN is another loan and mortgage broker site that has been around since the dawn of the “dot-com revolution.” Started in 1997, E-LOAN also provides service much in the same manner as Lending Tree and is their biggest competitor. E-LOAN helps millions of customers get car loans in a matter of hours and is known to have a check in their hands as soon as the next day. E-LOAN also runs a full service banking division and is a member of the Federal Deposit Insurance Corp.
Although primarily known as one of the Nation’s largest credit card companies, Capital One is also one of the country’s largest car loan lenders. You can visit their website at CapitalOne.com and apply for a car loan quickly and easily. You can usually receive a lending decision in a matter of minutes if you have good credit, a day or two if it less than perfect.
Capital One makes car loans to many borrowers with varying levels of credit worthiness. They are not known however to make purely “Bad Credit Car Loan” offers. If you have good or excellent credit, however, they do offer some very competitive interest rates for quick decision car loans.
Wells Fargo is a banking and loan company of more than 150 years (ever since the Gold Rush in California). They are also one of the largest car loan lenders in the United States and their acquisition of Wachovia Bank has only made them stronger. If you are looking for stability in an instant auto loan company, you need look no further than Wells Fargo. They also offer quick decision auto loans and have thousands of convenient local branches that service those loans.