Our rating is based on a combination of expert staff and user ratings.
- Good For Bad Credit
- Simple Borrowing Process
- Not Available in All States
- Restrictions on Borrowing for Certain Makes and Models
Purchase: 7.99% – 14.99%Refinance: 7.99% – 21.99%
$7,500 – $45,000
36 – 72 Months
CarFinance.com is an auto loan lender that was started in 2011. They have facilitated over $1 billion in auto loans since then and have earned a strong reputation. CarFinance.com focuses on providing the borrower with a better, simpler loan experience. They offer auto loans for both new and used purchases and for refinancing.
CarFinance.com is a good fit for those with bad credit who need quick preapproval on their auto loans, since CarFinance.com generally preapproves loans within 30 minutes during regular business hours. If you have a significant amount of debt, CarFinance.com will still be willing to lend to you.
How to Qualify
In order to qualify for a loan at CarFinance.com, you must have a minimum credit score of 525. There is no minimum monthly income. Purchase loans can usually only be used at franchise dealerships. For refinance loans, your current loan must have been open for at least three months in order to qualify. The maximum vehicle age for purchase or refinance is 8 years and the maximum mileage is 100,000 for 60-month terms and 75,000 for 72-month terms. Currently, CarFinance.com loans are not available in the following states: Hawaii, Massachusetts, Mississippi, Nevada, North Dakota or Oregon (purchase loans are not available in New Hampshire. There are also some restrictions on the makes/models that CarFinance.com allows.
There is no application fee, but there is most likely a late fee.