cancel
Showing results for 
Search instead for 
Did you mean: 

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

tag
davefromca
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. 

Message 1 of 5
4 REPLIES 4
tooleman694
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.

Message 2 of 5
Revelate
Moderator Emeritus

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.




        
Message 3 of 5
Cadillac-XTS
Established Contributor

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

Good luck

Message 4 of 5
webhopper
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...
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.