myautoloan.com

[Anonymous]

Anyone have any experience with myautoloan.com? I checked their BBB rating (A+), etc, and went ahead and applied with them, but got denied. However, as soon as I checked my email, I had a suspicious message from someone claiming I'd been approved at Automotive Lending Corporation/lendingbranchonline.com and that someone would contact me to verify my information. I will definitely not respond to something like that over the phone, and am hoping that the only thing they have is my name and email address, but now I'm worried that myautoloan has given away my information, including my social security number, despite what they claim on their website. If they can't reply satisfactorily I will file a BBB complaint and I already have a credit monitoring service for other reasons, but I'm worried...

[Anonymous]

Well you are right to be concerned when it comes to your personal information however... This is how these auto loan websites work, they are networks and they will try to approve you or otherwise refer you to others who might like in my case.

I applied through roadloans and when I checked on the status of the application this is what I found... 

Thank you for applying for an auto loan with RoadLoans.com or one of our online partners. After reviewing your application, we have determined one of our RoadLoans Dealers is best able to meet your auto lending needs. Please contact your RoadLoans Dealer to discuss financing alternatives.

The dealer's name and contact information was at the bottom of this page & the following day one of their sales people called me and said they could try and work with me on this but I had to apply through them. Obviously they had not ran my credit and didnt know if this would fall through but I did some research on them and they had decent reviews for local people in my situation. So despite yet another hard inquiry I did apply and got approved for a decent amount with a scary interest rate. I still haven't signed anything but seeing how hard it has been for me I think I will be doing that sometime soon. Im going to shoot for something small and not so expensive, I know that in the long run this will help my credit score. 

Bottom line... If you have been trying without success and have an approval waiting on you perhaps you should consider it. It would be wise to check up on this other company that supposedly approved you, try and get more information before jumping the gun...  =) cheers!

[Anonymous]

Thanks for the reply. The weird thing is that this supposed lender does not show up as an offer when I log in to myautoloan.com. I was approved by Cap One directly through their site and I think I will just stick with them -- the rate is not the greatest but manageable and at least I recognize the name. The email I got also made no reference whatsoever to myautoloan.com and has a pretty shady looking website. I think if they call I will just ignore them but I'm just worried that they might have more than my name, email address, and phone number -- I just don't want my SSN to go everywhere. I guess the best I can do now is just monitor my credit report and stop applying online...

[Janice618]

I've used myautoloan to buy my last two cars - 4 years ago and in February of 2011.  Nothing but great experience - got 3 offers first time and two last time - I was very pleased.  Have recommended to all my friends but not sure about what they did since I don't put an auto refinance loan at the top of my conversation topics.  That's what I think, anyway. 

[neaky1]

As far as I am concerned, they are not a reputable service.  I went to them because the car I had already picked out had an either or - either take a $2000 rebate OR get 3.9% financing.  I wanted both.  My credit score is 710 (lenders score, not some paid for imitation score).  They sent my info to a local dealer who then wanted to run my credit again.  Problem is, that dealer didn't have the vehicle I wanted at the price I was getting from a dealer 100 miles away.  In addition, even with my good credit score, they did not find any lender who would make me a loan - at any interest rate!  Don't beileve their hype.  Don't believe the "results in 60 seconds"  Those claims may be true for people with credit scores 770 and above, but they weren't true for me! 

[sccredit]

At 710 you have a lot of options on an auto loan.  Have you looked at DCU?  A 710 will get you 1.9% (with DD, 2.49% without)

[Janice618]

Girl friend tried just this last July - had great time (I sort of  helped but she caught on pretty quickly) Did new car, a Terrain at GMC dealer - they played some games like they tried with me but we put a stop to that.  Gave them her sales asking price, she gave them notice from US Bank, I think it was, had car in hand since it was on the lot and ---gone in 1 1/2 hours.  Wonderful - this is the way cars are going to be purchases soon - stop playing dumb games at dealer finance  - go in with pre-approved guaranteed rate and tell them, this is who you want to use and if not, you will go somewhere else to buy the car. Really E-Z.