Pros Explained

• Low rates for some loan types: LendingTree’s rates tend to be around the average or lower. Its refinance loan rates are among the lowest we found in our research of the auto loan industry.
• Easy online process: It only takes a few minutes to fill out LendingTree’s loan request form. You don’t need any official documentation at this point, and you’ll generally start receiving loan offers within a few minutes. 
• Many loan types available: LendingTree has options for several types of vehicle loans and—when and if you’re interested—other loan types too, such as mortgages and personal loans.  
• Receive up to five loan offers: You’ll receive up to five loan offers in your email after you submit a loan request. That’s a good variety to choose from, although you may not receive as many if your loan profile isn’t the greatest.
• Options for most applicant profiles: LendingTree’s network consists of over 300 partner lenders. While not all of them offer auto loans, many do—increasing your odds of finding a good option, especially if you have credit or other qualification challenges.

Cons Explained

• Only checks with five lenders: LendingTree works with more than 300 lenders, according to the company—yet it’ll only check with five of those lenders when you submit a loan request.
• Can cause an uptick in spam: LendingTree shares your data with those five partner lenders. Those lenders, in turn, are free to use the information however they want as long as they follow the law. That means those lenders could sell or share your data too.
• Lender referrals may be biased: LendingTree is free for you, paid for by lenders when a customer is referred to them. That gives LendingTree a financial incentive to show you certain lenders over others, rather than the actual cheapest options first.
• Doesn’t offer loan pre-qualification: You aren’t getting pre-qualified for a loan when you submit a loan request through LendingTree; it’s only that—a request for a loan. You’ll still need to go through the full loan process if you choose one of its lender offers. 
• May result in multiple hard credit inquiries: Each of the five lenders LendingTree shares your loan request with may do their own hard credit inquiry before they choose whether or not to offer you a loan. However, as long as those inquiries are completed within a short period of time (14 or 30 days, depending on the credit score model), they’ll all count as a single inquiry for credit scoring purposes.

Types of Auto Loans Offered by LendingTree

If you submit an auto loan request with LendingTree, it’ll shop it out with up to five of its partners, who will ultimately be the ones offering you an auto loan. Each of those partner lenders may offer their own suite of auto loans but if you’re looking to use LendingTree’s service, here’s what it can help you with.

New Auto Loans

• APR: Starting from 6.79%
• Loan amounts: Not disclosed
• Loan terms: 36–72 months

The details of the new car loans that you may be offered depend on the specific lenders that you’re matched with.

Used Auto Loans

• APR: Starting from 6.79%
• Loan amounts: Not disclosed
• Loan terms: 36–72 months

Depending on the lender you’re matched with, you may be able to purchase a car from an individual (instead of from a dealership) or buy out your current auto lease.

Refinance Auto Loans

• APR: Starting from 1.04%
• Loan amounts: Not disclosed
• Loan terms: 36–72 months

Time to Receive Funds

LendingTree isn’t able to provide a timeline for how long your auto loan will take. It depends on the specific lender it refers you to. 

Borrower Requirements

Since LendingTree works with such a wide range of partner lenders, there’s a good chance that it’ll be able to find you a loan offer even if you’ve had challenges looking for an auto loan on your own.  That’s not a guarantee, of course. It also means that LendingTree isn’t able to provide much helpful information about what requirements you’ll need to meet since it depends on each individual lender in its network.

• Minimum recommended credit score: Not disclosed
• State availability: 50 states and Washington, D.C.

Vehicle Requirements

LendingTree’s partner lenders may be able to work with you no matter your financial situation (within reason), and the same is true for the car you’re looking to finance. Each lender sets its own vehicle requirements, and with so many lenders to choose from, chances are you’ll be able to find a match even if you’ve got a difficult-to-finance car.

• Maximum accepted mileage: No limit
• Maximum accepted age: No limit
• Maximum loan-to-value ratio: 80%

LendingTree Auto Loan Features

The features of your auto loan aren’t dictated by LendingTree; rather, they depend on which lender you select from the options LendingTree presents you with. However, each lender in its network has a few things in common:

• Origination fee: $0
• Prepayment fee: $0
• Mobile app: LendingTree offers a mobile app for Apple and Android that you can use in the same way as its website to submit a request for auto loan offers, and then manage your loan. 

Co-Signers and Co-Applicants

Applying with a co-signer or a co-applicant can help you get approved for a loan if you’re not able to qualify by yourself. People also commonly choose to apply with a co-applicant if they’re looking to share ownership of their car with someone else, such as a partner. 

Whether you’re able to apply for a loan with a co-applicant or a co-signer depends on which lender LendingTree matches you with from its network.

Customer Service

LendingTree offers three main customer support channels. You can get help over the phone, by snail mail, or by submitting a form on its contact page to get help via email.  LendingTree is able to help you during the loan-shopping process, but it can’t help you apply for or manage your loan once you’ve chosen a lender from its offers. You’ll need to contact your lender for that.  

Customer Satisfaction

LendingTree receives mixed customer reviews. People who have left reviews on Trustpilot rate LendingTree in general very highly with a score of 4.4/5, citing how easy it is to find a good financing offer for various types of loans and credit. The company is accredited and has an A+ rating from the Better Business Bureau, although actual customer scores are much lower, at 1.27/5.

Complaints on both review platforms are plentiful and mostly center around people who didn’t see the well-hidden disclosures about how using LendingTree may result in a lot of cold calls and hard credit inquiries. In addition, as of August 2023 LendingTree is involved in a class-action lawsuit alleging that it downplayed a major data breach in 2022.

How to Apply for a LendingTree Auto Loan

LendingTree can connect you with partner lenders who can provide auto loan offers. Here’s how its process works:

• Fill out a loan request form: LendingTree will ask for just enough information to share with its partner lenders to see if they’re interested in offering you an auto loan. You don’t need to submit any documents, but you will need to provide your Social Security number, contact methods, and information on your income, debts, and assets. 
• LendingTree shops your loan: LendingTree will do a soft credit pull and then submit your information to up to five lenders from its network that have already expressed interest in underwriting loans for people matching your application profile. 
• Receive loan offers: If a lender decides to offer you a loan, you’ll receive an email with an offer. This means you could receive from zero to five loan offers. Keep in mind each partner lender is free to share or sell your information (within legal limits) and/or do a hard credit pull even if they don’t end up offering you a loan.
• Apply with a lender: If you like one of the loan offers, you’ll need to reach out to the lender via email, phone, or mail for the next steps to apply for your car loan. LendingTree does not handle the actual auto loan application for you; that’s between you and the lender it refers you to.

Alternatives to LendingTree

Loan Types Offered	New, used, refinance, motorcycle, RV	New, used, refinance, cash-out refinance, lease buyout, motorcycle	Used
States Available	All states and D.C.	All states and D.C.	All states and D.C. except AK, HI
New APR Range	4.75% and up	2.99% and up	N/A
Used APR Range	4.75% and up	2.99% and up	Not disclosed
Refinance APR Range	1.80% and up	2.99% and up	N/A
Min. Time to Receive Loan	Not disclosed	Not disclosed	1 day
Recommended Min. Credit Score	Not disclosed	500	500
Max. Accepted Mileage	None	150,000	140,000
Max. Accepted Age	None	10 years	Varies
Max. Accepted Loan-to-Value Ratio	80%	Not disclosed	Not disclosed

Final Verdict

LendingTree is a good tool to help you find the lowest auto loan rate, but it’s not without its limitations. The fine print reveals that it actually only compares a maximum of five lenders when you apply, not the full (and extensive) list of lenders that it works with. Those five lenders, in turn, are free to use your personal information any way they want within the bounds of the law—including selling or sharing your data with other companies, or doing a hard credit pull—all without being obligated to offer you a loan.  Since LendingTree is paid a referral fee from the lenders it works with, it has a motive to steer you towards the lenders with the highest kickbacks. Still, if you’re willing to put up with those limits, it’s a good option to quickly check five potential loan options to finance your next ride. Just make sure you check around on your own, too. 

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of auto loan lenders. To rate providers, we collected hundreds of data points across more than 20 auto loan lenders, including interest rates, fees, loan amounts, borrower requirements, and vehicle requirements, to ensure that our reviews help users make informed decisions for their borrowing needs. We also conducted a survey of 1,016 auto loan borrowers for attitudes and opinions about lenders and the loan approval and disbursement process. See our full auto loan review methodology for more information.