MaxCarLoan is an online marketplace for auto loans that gives users access to hundreds of potential auto loan providers.
It allows auto loan shoppers to connect and choose from its large network of direct lenders and auto dealers.
The company provides a simple online application which lets customers get same-day approval. MaxCarLoan does not charge obligation or application fees.
HOW IS MAXCARLOAN RATED?
Overall Rating: 3.4 / 5 (Very good)
MaxCarLoan is an online lender that offers a simplified application process and access to competitive auto loan rates from their select network of participating dealerships and direct lenders.
Their website features an uncluttered design for easy navigation and their application process is truly streamlined to provide a hassle-free customer experience.
However, there are very few online details about the company, which has no “About Us” section with information on who they are and how long they have been in business.
Online customer reviews for MaxCarLoan are equally scant, which makes it harder to ascertain whether the company upholds high customer service standards.
Nevertheless, those looking for a quick and easy application, pre-approval, and a good range of financing options despite poor or insufficient credit may benefit from what MaxCarLoan has to offer.
AUTO LOANS & REFINANCING
Loan Details – 3.3 / 5
MaxCarLoans offers purchase loans for every type of vehicle, including vans and sport utility vehicles. Loan terms and further details will vary by lender, yet will typically range from 24 to 72 months.
For people who want to obtain an estimated annual percentage rate and monthly loan repayment amount, the company does provide an affordability calculator that gives you an estimated APR, as well as a monthly payment amount calculator based on the customer’s desired loan amount.
Types of Loans Offered
Qualification – 4.8 / 5
To qualify for an auto purchase loan from MaxCarLoan, applicants must be 18 years or older and may be required to provide personal details such as their social security number.
Clients with past credit problems can also apply, but people with very poor credit may benefit from having a co-signer with good credit status.
APPLICATION & SERVICE
Customer Experience – 3.5 / 5
Once a client completes the company’s online application, MaxCarLoan will match them with companies from their network of auto financing partners within 24 hours or less.
If the client is approved, they will be contacted directly and walked through the final stages of the application process.
If the customer is matched with one of the company’s direct auto finance partners they are able to go to any auto dealer in the state to purchase their car.
On the other hand, if they are matched with a participating auto lender, they must purchase a vehicle from that particular lender.
MaxCarLoans does not charge any application or processing fees, but particular lenders will determine if additional charges apply.
MAXCARLOAN REPUTATION & REVIEWS
Reputation – 3 / 5
There are no online customer reviews for MaxCarLoan on other reputable consumer review sites like the BBB.org or Trustpilot.com.
If you are interested in securing financing through this company’s online marketplace, remember to look up the lender you are matched with on the aforementioned sites and read through customer reviews to ensure the trustworthiness of the business in question.