LendingTree Car Loans Review

Caroline Banton

In a Nutshell

With a large network of top lenders, LendingTree has the tools you need to find the best car loan for your individual circumstances regardless of your credit score. The simple and efficient application process will quickly find the terms and rates that suit you.

pros

  • Vast network of loan providers with competitive rates
  • No minimum credit score

cons

  • Not directly a lender so rates and terms vary
  • Lack of information on specific loan types and terms

LendingTree LendingTree Visit Site

LendingTree at a Glance

LendingTree is not a direct lender but a loan marketplace with some of the most trusted names in the financial services industry. Through this platform, you can find a loan provider that matches your needs without having to visit several websites or physical locations. 

The company’s model promotes lender competition, which benefits you, the customer, as lenders vie for your business and offer favorable terms and rates. The vast marketplace of lenders gives customers with all levels of creditworthiness the ability to find the financing they need to purchase cars or simply refinance their existing loans at more favorable rates.

LendingTree was founded in 1996 to create a simpler way to search for loans. The company has since become one of the largest lender networks and marketplaces in the United States. 

Best For?

Thanks to its marketplace model, LendingTree is an ideal fit if you want to compare several options before making a final decision but may not have the time to do so. The competition between lenders means more favorable repayment terms and interest rates. LendingTree is also an excellent alternative if you don’t have an excellent or good credit rating but are still looking for financing to help pay for a new or used vehicle.

LendingTree Features

LendingTree offers financing for new and used cars and auto loan refinancing for customers. LendingTree’s auto loan portal includes information on inspections, manufacturer data, car values, and a forum where you can ask questions and answer other consumers’ queries. 

Some highlights include:

  • A vast network of lenders
  • A strong emphasis on educational resources
  • A range of loan types
  • Loans for customers of any credit standing
  • Direct car sales
  • Loan calculators to help with financial planning

Application Process

Getting started with LendingTree is fast and painless as it pre approves most customers before matching them with the right lender. To begin the application, you will need to fill out an online form that requests basic personal information, such as name and place of residence and financial details that include income level, housing status, and similar queries. LendingTree does not perform a hard credit check, so customers’ credit scores are not affected when they apply for prequalification. To be approved for a loan, LendingTree requests that you meet the following criteria:

  • Be at least 18 years or older
  • A U.S. citizen or permanent resident
  • Have a verifiable bank account
  • Have a stable source of income

LendingTree will also ask you for some basic financial details, including your debt-to-income ratio, before performing a soft credit check to match you with your ideal lender. You will also be asked to provide the following documentation:

  • Proof of residence (such as a utility or lease agreement)
  • Pay Stubs from recent months
  • Official identification documents, such as a driver’s license or passport

Once prequalified, LendingTree will display the best matches for each application. It is important to note that since LendingTree is not a loan originator, any final terms, rates, and amounts are settled directly with the selected lender.

Loan Types and Terms

LendingTree’s main offerings are new auto loans. The loans feature a range of amounts and flexible rates and repayment terms. You can select to borrow between $1,000 and $300,000, with terms of either 12, 24, 36, 48, 60, 72, or 84 months. Interest rates for new loans start as low as 2.39% (for refinancing) and 3.49% (for new and used auto loans) as of July 7 2020. However, keep in mind that final interest rates and terms are provided by and agreed to with the lender the customers chooses, not LendingTree.

The company also offers loans for used cars and does not check for certain details other lenders may request, such as mileage. This means customers have a better chance of being approved and matched for a loan regardless of the car’s age. Rates shown for some of LendingTree’s partners can start as low as 3.49% for a 36-month loan.

How Safe is LendingTree?

Although LendingTree works with customers’ sensitive information, the platform keeps that information secure and only shares it when necessary. The company does share information with partners, but it is transparent about what information it collects, how it is collected, and the reason information is shared. In most cases, this is simply so that lenders can provide the best possible services to potential customers. LendingTree employs industry-standard security measures including user data encryption along with robust physical and electronic protections for its servers.

Repayment Options

If you go with LendingTree, since the company is not the loan originator, you will not work with the company once the terms of your loan have been established and funds disbursed. LendingTree’s partners generally offer flexible repayment terms ranging from 12 months up to 84 months and with interest rates that are more favorable than many competitors. Many of LendingTree’s partners offer automatic payments, but this varies from company to company, and customers should always confirm the best method to repay their loans with their chosen lender.

Help & Support

You can get in touch with LendingTree via phone on weekdays and Saturdays during regular business hours or via email at any time. The company’s FAQ could be easier to navigate; however, it does feature several helpful sections with useful answers to questions on the lending process. LendingTree features an impressive trove of educational resources, such as a variety of calculators, articles, guides, and lender reviews to help you make the most informed decision possible. 

Final Word

LendingTree’s marketplace model lets you compare options, which forces lenders to offer competitive rates. The simple and efficient application process matches you with the right lender. LendingTree’s ability to work with customers with all types of credit is a bonus to its auto loans search service.

Physical Address

LendingTree LLC

11115 Rushmore Drive

Charlotte, NC

28277

Caroline Banton is a freelance writer of business and finance articles that have been featured in The Huffington Post, The Motley Fool, Time, MSN, PYMNTS.com, GOBankingrates.com, SaleMove, and MyBankTracker.com. Before becoming a writer, Caroline had over fourteen years of experience working at the World Bank. Caroline has an MBA from Johns Hopkins University.

LendingTree customer reviews

Based on 150 reviews

Ease of use

Brand satisfaction

Value for money

Service quality

Write review

Adjust category ratings

Ease of use

Ease of use

Brand satisfaction

Value for money

Service quality

Brand satisfaction

Ease of use

Brand satisfaction

Value for money

Service quality

Value for money

Ease of use

Brand satisfaction

Value for money

Service quality

Service quality

Ease of use

Brand satisfaction

Value for money

Service quality

Share your experience

People discuss, price, satisfaction level and more.

Write your review

30 Sep 2020

Almost done!

Check that everything's correct, fill in your details, and submit your review!

Anonymous

Ease of use

Brand satisfaction

Value for money

Service quality

Today

Your review will be screened by our team
Whoo-hoo!
Thanks, we love getting your feedback

Top Reviews

Craig, MN
10 months ago

Ease of use

Brand satisfaction

Value for money

Service quality

Only took several days to get approved and then the money was transferred too my bank account.

Connie, FL
8 months ago

Application process was very easy and funds were available promptly. Repayment has been effortless

Carolyn, SC
a year ago

Because they are very understanding of your problems with debt and they helped me lower my debt significantly

Lillie, AL
9 months ago

I was treated like family and that's what means the most. Customer service is the face of a company.

Gilbert, TX
8 months ago

I am completely satisfied with their services because they made it easy they have great customer services and they listen

Shon, NM
10 months ago

No it was great they were very responsive and found me the loan I need in less than a day it was great

Sara, MN
8 months ago

Lending tree has given me two loans that were easy to open an application. The interest rate was good.

Ron, OH
a year ago

They simply have the best rates and customer service, they are easy to use and you get the most value for your money. They have been around a long time and have the experience to help you get out of debt.

C, KY
10 months ago

Very easy to do business with. Funded the loan very quickly. No unnecessary paperwork to submit.

Brooke, OK
10 months ago

The email subscription is great with tips and potential for new loans, credit repairs, etc.

ED, TX
a year ago

Good company and services. Easy to use and navigate their website and they have good options to choose from.

Gianna, PA
a year ago

I found it very easy to apply for the loan. The repayments were set up to automatically withdraw from my bank account , I did everything online.

JD, TN
8 months ago

Easy to use quick and efficient in getting your information and giving you an answer. You can go through a easy process when obtaining a loan.

John, PA
10 months ago

I took out a loan for some dental work and am satisfied with my interaction with Lending Tree.

Anna, MO
8 months ago

They were very upfront and easy to work with. The answered all questions and took time to explain everything in detail. They provide weekly updates and suggestions for my account.

Cryssie, NC
9 months ago

I will never use any other mortgage service other than LendingTree. I have had such an awesome experience with them and my family is preparing to buy a new home and we are absolutely looking forward to using LendingTree again!

NeNe, FL
a year ago

Lending Tree is very doable. They work very hard to ensure there clients get the loan and money they deserve. I think the credit score to be approved should be lowered to accommodate widows that are having a difficult time.

Natasha, TX
8 months ago

The service is easy and I haven't had any problems with the company. The loan process is fact and efficient.

Mike, CA
9 months ago

When you're in the business of looking for a loan, this is the company to do business with. They truly care about your needs and have a product that fits your needs.

Maria, LA
10 months ago

Lending Tree searches to get me the best rate and best monthly payments. Customer service was extremely easy to work with to get the tight loan for us.

150 reviews