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MaxCarLoan connection service review
Quickly compare car loan options — even if you have bad credit.
MaxCarLoan makes it easy to compare new and used car loans from multiple lenders — even if you have less than stellar credit. But its website isn’t the most transparent, and there’s no way to get in touch with its customer service team if you have any questions during the process.
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15% to 25%
APR
Details
| APR | 15% to 25% |
|---|---|
| Interest Rate Type | Fixed |
| Requirements | Regular source of income, US citizen or permanent resident, ages 18+ |
First, do I qualify?
MaxCarLoan lists no specific eligibility criteria. However, you generally need to:
- Have a regular source of income.
- Be a US citizen or permanent resident.
- Be at least 18 years old.
The lender you’re connected with may have other requirements for you and your car, so check before you submit an application.
What states is MaxCarLoan available in?
MaxCarLoan has lenders that operate in all 50 states.
What makes MaxCarLoan unique?
Unlike some car loan connection services, MaxCarLoan works with both lenders and dealerships to find you a good deal — no matter your credit history. While this widens your pool of loan options, if you’re connected with a specific dealership, you’re limited to buying your car from it. However, some dealers may be willing to work with other local dealerships to find a car that meets your needs.
What types of car loans do the lenders in MaxCarLoan’s network offer?
You can finance a new or used car through MaxCarLoan’s network, but the exact amount you qualify for will depend on the lender you’re connected with.
Here’s how the two types of loans break down:
- New car loan. These tend to have terms of two to seven years, though the amount you can borrow and your APR will vary by lender.
- Used car loan. Terms are generally the same, but APRs tend to be higher than you’d find with a new car loan. Most lenders also have age and mileage restrictions on the car you can finance.
Lenders in MaxCarLoan’s network offer APRs from 15% to 25%. While this isn’t the lowest set of rates out there, it is about on par for subprime car loans. You may want to check out your other options to make sure you’re getting the best deal.
What are the benefits of using MaxCarLoan?
MaxCarLoan may not be a direct lender, but there are a few perks to using its connection service:
- Bad credit OK. MaxCarLoan works with a variety of lenders and dealerships, so even if your credit could be better — or you have no score at all — you may still be able to get connected.
- Fast turnaround. Borrowers who finance through one of MaxCarLoan’s partner lenders can usually buy their car within one to two days after their application is processed.
- Cosigners accepted. If you don’t have the best credit but know someone who does, MaxCarLoan has lenders in its network that accept cosigners.
What to watch out for
From its minimal online reviews to its lack of contact information, here are a few drawbacks to consider before using MaxCarLoan:
- May need to buy from a specific dealer. If you’re connected with a specific dealership, you’re limited to purchasing a vehicle from that dealer. Though, it may be willing to work with local dealerships to find a car that meets your needs.
- No contact info. MaxCarLoan doesn’t have any contact info listed on its website — not even a general email address.
- Minimal information on its website. MaxCarLoan’s website is bare-bones at best — you won’t find what states it services or what lenders are in its network.
- Limited online reviews. It’s unremarkable for a connection service like MaxCarLoan to have zero reviews, but it does mean you’ll be in the dark when it comes to how other borrowers fared after using its services.
Compare MaxCarLoan to other auto loan providers
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MaxCarLoan reviews and complaints
There’s very little info out there on MaxCarLoan as of October 2020. In fact, it doesn’t even have a Better Business Bureau or Trustpilot page. While this can happen with connection services, it means you won’t know exactly what you’re getting into when using this service until after you fill out its online form.
Instead, you might want to take a look at the online reviews for whatever lender you’re connected with. This will give you insight into former borrowers’ experiences applying for a loan, making repayments and working with customer service.
How do I get started?
MaxCarLoan has a simple two-page online form that should only take a few minutes to fill out. Follow these steps to get started:
- Click the Go to Site link on this page to be redirected to MaxCarLoan’s website.
- Click Get Started to begin the online form.
- Enter your full name, date of birth and details about your income. Click Continue to Step 2.
- Enter your contact information, details about your place of residence and information about a cosigner, if applicable.
- Read MaxCarLoan’s terms of use and privacy policy. Click Submit Application.
It may take up to five minutes for MaxCarLoan to verify your information and connect you with a potential auto lender.
What documents do I need?
You don’t need any documents to fill out MaxCarLoan’s online form.
I was connected with a lender. Now what?
MaxCarLoan will redirect you to its partner lender’s website to complete the application process. Your lender will then confirm your identity and ability to repay the loan. At this point, they may ask you to provide additional documentation like proof of income and insurance.
If approved, you’ll be sent a final loan agreement to sign before purchasing your car. Keep in mind that all lenders have different rates and terms. Go over your contract carefully and check for prepayment penalties or other fees you might be charged to make sure you understand the full cost of the loan.
Bottom line
MaxCarLoan can be a convenient way to compare multiple car loan providers at once. And since its network of lenders work with all credit types, you may still be connected even if you don’t have a perfect credit score.
However, it’s not the most upfront connection service out there. And there’s no way to get in touch with customer service if you have any questions while filling out its online form.
See how it stacks up to other brokers with our guide to car loan connection services. Or consider applying with a direct car loan provider instead.
