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.
Bank of America has nationwide coverage, but a high minimum loan amount and restrictions on dealerships.
Wells Fargo may be a great option if you’re looking for a personal loan with an established company.
Navy Federal personal loans are best for current members of the credit union and borrowers who meet the membership requirements.
First Tech offers a range of unsecured and secured personal loan amounts to members and employees of big tech companies.
Fifth Third Bank personal loans stand out for its flexible loan repayment terms and high loan amounts.
Don’t get tripped up at the finish line when you buy a house.
It’s a comparison calculation that’ll determine if you’ll get a loan, and the interest rate you’ll pay.
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