The best in
Our experts put popular lenders under the microscope to find 2024’s best auto loan experiences, rates and terms. While some lenders may be partners, this didn’t influence our selection process.
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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Read more about how we scored the 2024 Bankrate Awards winners in .
See our top picks
Best from a bank
PenFed
Why they won
The Virginia-based credit union offers borrowers an excellent borrowing experience for its members, and membership is free for auto loan borrowers. And you can request a prequalified quote without impacting your credit score.
Top features
- Online car buying program
- Extended warranty available
- In-person support
- Up to 84 months to repay
Best online lender
Autopay
Why they won
With loan marketplace Autopay, borrowers can find the best loan for their needs via side-by-side comparison directly on the lenders’ site — all without a hard credit inquiry. After you select a match, the site can finalize your loan in as little as a single day.
Top features
- Quick online application
- Side-by-side loan comparison
- Loan amount of up to $100,000
- Cash-out refinancing available
Best for auto refinance
LendingClub
Why they won
Direct lender LendingClub has competitive refinancing rates — a perfect fit for those with dealer financing or a high-interest auto loan. You may prequalify for an improved rate online, in minutes and without any origination fees.
Top features
- Refinance loan balances up to $55,000
- Fast funding
- Instant offer available
- Early loan payoff with no additional costs
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Best for used car purchase
Carputty
Why they won
The direct lender encourages borrowers to manage their vehicles like assets — which means more flexibility than the average loan. The combination of its V3 car buying tool, which helps determines the best time to buy, and its high loan amount make Carputty a great option when buying used.
Top features
- Structured as line of credit
- Line amount up to $250,000
- Funding available as soon as the same day
- Add cars without a separate application
Best for new car purchase
Consumers Credit Union
Why they won
Consumers Credit Union offers borrowers an excellent new car buying experience. Membership costs a mere $10 and affords you access to an easy-to-navigate car-buying service and a competitive starting APR (annual percentage rate).
Top features
- Low minimum APR
- TrueCar shopping program
- Automatic payment rate discount
- Option to bundle repair coverage
Best for EV financing
Tenet
Why they won
Tenet’s auto loans are specifically designed to help you navigate the ins and outs of driving electric. On top of this, borrowers can prequalify and manage savings all from the lenders' interactive dashboard.
Top features
- Fast funding
- Tax incentive assistance
- Environmental impact dashboard
- Loan terms up to 84 months
Explore the best of the best
Check out the 2024 Bankrate Awards winners across our top categories.
