How secured auto loans work
Secured auto loans are the most common type available.
Kellye Guinan is a Bankrate editor and Certified Financial Education Instructor®. She joined the team in 2024 with seven years of experience already under her belt covering everything from auto loans to debt consolidation. Her journey started the same as most people, with little knowledge of the finance world outside budgeting basics.
Kellye helps others navigate auto and personal loans. At her core, she believes people deserve to make the most of their money and feel confident managing their finances, so she strives to write about personal finance in ways everyone can understand. Her goal is to break down the most complex aspects of personal finance into manageable tips paired with expert advice.
In her free time, she loves studying languages and reading an absurd amount of books. You can often find her drinking bubble tea and lounging by the nearest body of water. And yes, she will talk your ear off about the importance of smart budgeting — even when she’s not working.
No one is born with an innate knowledge of finance, but everyone can learn it if they have access to the right tools. She wants to ensure the advice, articles and comparisons she works on are factual without being bogged down by jargon. When we approach difficult topics with empathy and understanding, we succeed.
TD Bank offers a variety of business funding solutions to customers within its East Coast service area.
PNC Bank offers multiple business loans and has over 2,500 retail locations throughout 28 U.S. states and Washington, D.C.
PayPal makes it easy for small businesses to secure business loans. It has a fast approval process and offers a low minimum revenue threshold.
Sallie Mae's educational resources set it apart as a student loan lender.
USAA is a Texas-based company that serves U.S. military members and veterans, pre-commissioned officers and spouses and children of either.
Fifth Third Bank offers auto loans for new and used vehicles and auto refinance loans to its members with checking and savings accounts.
Carvana is available to consumers looking to purchase a vehicle on Carvana’s website and have it delivered to their doorstep or using a “car vending machine” in their local area.
CarMax serves drivers across the country who want to purchase used vehicles. It has recently dove into the remote purchase space, providing drivers with the ease of vehicle delivery and financing all on one site.
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