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Lending tree, cars direct....should I let these guys find my auto loan for me?

Established Member

Lending tree, cars direct....should I let these guys find my auto loan for me?

I read some of the older posts and people seem kind of iffy on these websites but it seems to me like its the best option for anyone. I mean, they do all the work for you right? All you have to do is click the best offer. + You only have one pull on your credit and you get multiple offers. Just wanted to know if there are any draw backs to this to using a "broker" like this. 

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Valued Contributor

Re: Lending tree, cars direct....should I let these guys find my auto loan for me?

Last time I did it I got pulled more than once. But no big deal.

 

I did a loan with them before. pretty easy.

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Moderator

Re: Lending tree, cars direct....should I let these guys find my auto loan for me?

LIkely going to get more than one pull anyway when loan shopping, doesn't matter for auto / mortgage loans anyway if done all within a short-period, and when I tried lending tree they were clustered together very neatly.

 

Personally I think it's a good solution if someone has sub-optimal credit for whatever reason: you get a good distribution of lenders and ones you might not otherwise find anyway (someone found a one-off CU with a fantastic rate through them as reported here), and they were even able to find a loan for me which was pretty close to what I actually wound up with regardless given how ugly my file was a year ago.  

 

Edit: this is especially true if shopping for a used car I think almost regardless of credit strata, but usually the pretty report-wielding people already have good options.

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Established Contributor

Re: Lending tree, cars direct....should I let these guys find my auto loan for me?

Good luck

Message 4 of 5
Moderator Emeritus

Re: Lending tree, cars direct....should I let these guys find my auto loan for me?

I used lending tree and found the broker that finally got my mortgage to go through... local banks were failing because of my scenario with owning rental property...

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