The online marketplace LendingTree was created back in 1996 from the idea that people should be able to search for and find loans a lot easier than before. Since then, the platform’s reputation has kept increasing and it has been helping people find exactly what they were looking for easily and quickly.
LendingTree offers the possibility to find a loan lender that fits your needs exactly just by completing a few details about what you’re looking for. The fact that the platform has so many reputable lenders in its portfolio means that they will be fighting for the chance to offer you a loan. This, in turn, means that the client will benefit from some of the most advantageous rates and terms on the market. This platform also offers clients the possibility to refinance their loans at better rates.
Suitable For?
LendingTree is suitable for all people regardless of their credit scores who want to get a loan that will suit their needs. This platform is also a good idea if you only want to browse through some loan options without necessarily having to make a decision right away. LendingTree offers all types of loans including personal and small business loans, auto loans, mortgages, and student loans.
Features
With LendingTree, anyone can obtain auto loan refinancing or a car loan in just a matter of minutes. The auto section on the website offers all information that possible future clients could need, from rates to payments to a very helpful FAQ section. These are some of the most noteworthy features of this platform:
·A large lender database;
·A multitude of available loans;
·An easy and quick application process;
·A prequalification stage;
·Loan calculators;
·Car sales.
Application Process
The entire application process on LendingTree is extremely simple and fast. That is mostly thanks to their prequalification feature that allows clients to be matched with the lenders that suit their requirements. The first step to applying for a car loan is to fill out a form with some basic details about your personal and financial situation and background. The prequalification stage only performs a soft credit check so your credit score will not be affected at all.
When it comes to the LendingTree eligibility requirements, you will need to be of legal age, a U.S. permanent resident/citizen, to have a stable income source, and to have a bank account in your name. There are also some financial and personal documents that you will need to provide in order to be matched with lenders. Remember that the platform only shows you suitable offers from its partners and does not offer loans itself.
Loan Types and Loan Terms
As already mentioned, the LendingTree offer includes small business loans, personal loans, mortgages, student loans, and, of course, auto loans. When it comes to the latter, anyone can borrow between $1,000 and $300,000 with the repayment terms ranging between 12 and 84 months. As for interest rates, those start at 2.49%.
When it comes to used cars loans, it’s worth noting that LendingTree doesn’t check certain details that other lenders check, such as mileage. This means that the chances of people being approved for such a loan are much higher than with other lenders.
Is LendingTree Safe?
Because LendingTree is only a marketplace, the clients’ info will be eventually shared with its partners. However, this is done only to ensure the fact that the correct data will reach the lenders and not for other purposes. The platform excels at transparency in this case and assures its clients that it employs all the standard security measures of the industry.
Repayment Options
LendingTree is not a direct lender so clients will not make their payments to the platform but to the lenders that they will choose. This means that the repayment options depend solely on those companies and in most cases, they are flexible.
Customer Support
LendingTree can be reached via phone at 1-800-813-4620 from Monday to Saturday. Clients also have the possibility of submitting tickets in case they encounter any issues. Moreover, their FAQ section is extremely helpful along with their loan calculators, articles, and many other educational resources.
How LendingTree Compares to Other Platforms
LendingTree is definitely one of the best marketplaces when it comes to auto loans. It is comparable with My Auto Loan in terms of the minimum credit score required and repayment terms. However, it is a much better option than Car Loan in terms of loan amounts. LendingTree is also excellent for people who have a lower credit score.
Final Word
All in all, LendingTree is definitely one of the best and most accessible marketplaces for auto loans on the market. It allows you to compare numerous offers easily and its application process is extremely simple and fast. Besides that, its eligibility requirements are not that strict which makes it a platform that caters to all types of possible clients.
Physical Address
11115 Rushmore Drive, Charlotte, North Carolina
