At a glance

- Availability
- Affordability
- Customer Experience
- Transparency
About Carputty
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Loan amount
Lines from $25,000-$250,000
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Min. credit score
Not specified
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APR from
7.14%-9.64%
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Funds available in
As soon as the same day
Loan amount
Lines from $25,000-$250,000
Min. credit score
Not specified
APR from
7.14%-9.64%
Funds available in
As soon as the same day
Car buying support
High maximum loan amount
Preapproval
High minimum APR
Confusing repayment terms
Carputty does not disclose any specific requirements for credit score or income, but to apply, borrowers must be at least 18 years of age, employed and a legal resident of the United States.
While the Flexline program makes vehicle financing a seamless process, Carputty might not be the best lender for every driver.
Carputty provides customer support Monday through Friday via chat on its site from 8 a.m. to 6 p.m. EST or over email at help@carputty.com. Outside of the chat function, Carputty has a fairly in-depth FAQ section that outlines the application and financing process.
Carputty offers auto loans for drivers looking to finance a new or used vehicle, refinance an existing loan or undergo a lease buyout. Lines of credit range from $25,000 to $250,000. Individual advances can range between $10,000 and $150,000 (provided you have that much credit available to you).
Repayment terms are a bit complicated. Once you’re approved for a line of credit, you have 24 months to start using it or it will close — but it remains active indefinitely if in use. Putting a balance on the LOC by funding a vehicle starts a 36-month term. At month 20, you have the option to continue your current repayment schedule, refinance for a further 24 months (extending the total repayment term) or pay off the loan early.
The V3 valuation tool pioneered by Carputty helps to predict when the best time to buy or sell your vehicle is, based on market data. Valuation can be run prior to loan application directly on the Carputty site. This tracks and monitors vehicle value so that anytime during ownership you can decide to sell based on market trends.
The high maximum loan amount of $250,000 makes Carputty a strong choice for those financing an expensive new vehicle or multiple vehicles at once.
Refinancing your current vehicle loan can provide you with a lower monthly payment or better rates. Take advantage of a refinance calculator to determine if refinancing your loan could truly save you money.
If you are interested in purchasing your leased vehicle, Carputty offers assistance and support throughout the process. A lease buyout can help you to avoid steep wear and tear fees and allow you to hold onto your current vehicle.
You can apply for an auto loan directly on the Carputty site with approval likely in minutes. Through only one application you will be provided access to a flexible line of credit that can be used at any point. For the initial application, you will undergo a soft credit pull and then a hard credit pull when the line of credit is finalized. The Atlanta-based lender may also perform a soft credit pull every 45 days in order to monitor your credit.
According to the site, the rate you receive will be based on your credit score, not vehicle information like year, make or model, which is a stand-out feature compared to traditional lenders. But if you have poor credit, it is wise to consider other types of lenders that use other underwriting criteria, unlike Carputty. Funding can become available as soon as the day you apply. Once accepted you will gain access to a secure dashboard where you can manage current loans or add new vehicles.
Unlike many other lenders Carputty does not require vehicle information until after the preapproval process has been completed. At that point, you will input vehicle details such as, make, model, year and license plate number into the Carputty dashboard.
Overall Score | 4.0 | |
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Availability | 4.3 | While the lender boasts a high loan amount, it currently only serves 32 states. |
Affordability | 2.8 | The potential for fees and high minimum APR decreases an otherwise strong category. |
Customer Experience | 3.8 | Carputty only offers support Monday to Friday on a range of hours. |
Transparency | 5.0 | Ability to prequalify and fees and rates disclosure gives Carputty a perfect score. |
Bankrate considers 18 data points when selecting top auto loans. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are broken up into four categories.