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Woodside Credit auto loans review

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Classic and collector car financing with terms up to 12 years.

  • Best for classic, exotic and collector car financing with low monthly payments.
  • Pick something else if you don't have excellent credit — you likely won't qualify.

$10,000

Min. Loan Amount

$600,000

Max. Loan Amount

Varies

APR

Details

Product NameWoodside Credit auto loans
Min. Loan Amount$10,000
Max. Loan Amount$600,000
APRVaries
Interest Rate TypeFixed
Requirements700+ FICO score, good to excellent credit history, no bankruptcies, down payment of at least 10% to 20%, verifiable income, no application or monthly fees, no prepayment penalty

Expert review

Kathryn Pomroy

Review by


Kathryn Pomroy was a writer for Finder, specializing in loans. She has written for dozens of major publications, small businesses and many well-known personal finance companies, including LendingTree, Money Crashers, Quickbooks/Intuit, BankRate, LendEDU and more. Kathryn holds a BA in Journalism and drinks super bold coffee while eating peanut butter and honey toast.

Expert review

Woodside Credit is ideal for borrowers looking to finance an expensive collector, antique or exotic car. It offers auto loans up to $600,000 with terms as long as 12 years. In fact, it claims to offer the lowest monthly payments in the US. Just keep in mind that these longer repayment periods will mean your loan’s more expensive in the long run.

The lender is also exclusively endorsed by Barrett-Jackson — so you might want to consider working with it if you’re looking to buy a car from an auction.

However, it’s not up front about interest rates and fees. And if you don’t have excellent credit, you’ll need to look elsewhere.

Not sure Woodside Credit is for you? Compare other options below.

First, do I qualify?

Woodside Credit has five hard-and-fast eligibility requirements:

  • FICO Score of at least 700
  • Good to excellent credit history
  • No bankruptcies
  • Down payment of at least 10% to 20%
  • Verifiable income

The company also allows you to apply jointly with your spouse or partner to increase your chances of approval.
What states is Woodside Credit available in?
Woodside Credit partners with dealerships in all states except Hawaii and Alaska.

What makes Woodside Credit unique?

Woodside Credit pushes the limits with classic, collector, exotic and antique car financing, as well as Barrett-Jackson auction financing. It also offers private-party auto loans, so you don’t necessarily need to by from a dealership.

Although loan amounts are hefty — from $10,000 to $600,000 — the website states it can approve your loan application in minutes when completed online. Even more, Woodside offers flexible terms up to 12 years to help make for lower, more manageable repayments.

What types of car loans does Woodside Credit offer?

Woodside Credit offers a variety of car loans, including:

  • Finance the purchase of a collector, exotic or antique car from a dealership or private party
  • Finance a recent cash purchase
  • Refinance an existing collector car loan or lease buyout
  • Get preapproved for a future purchase at Barret-Jackson — for a fee

Not sure if refinancing is right for you? Use our car loan refinancing calculator to find out.

What are the benefits of Woodside Credit?

How do the many benefits of Woodside Credit stack up? Take a look:

  • Large loan amounts. Woodside offers high-dollar financing up to $600,000 for a wide range of vehicles.
  • Long terms. Long repayment periods equal lower monthly repayments, though you’ll pay more in interest.
  • No restrictions on vehicle mileage. Most lenders limit car loans to vehicles with less than 100,0000 miles — Woodside doesn’t.
  • Partners with Hagerty Insurance. Sign up for classic car insurance at the same time you apply for financing to keep things simple.
  • Preapprovals for auction purchases. Woodside also partners with Barret-Jackson to help you get preapproved for financing before you hit the auction.

What to watch out for

Although there are many benefits, there are also a couple of factors to watch out for when applying for a Woodside Credit loan. These include:

  • Not transparent. Woodside doesn’t disclose a range of interest rates or whether it charges any late fees on its website.
  • Can get expensive. A longer repayment period makes your loan more expensive in the long run.
  • Down payment required. If you don’t have the cash up front to make a 10% to 20% down payment, you’re out of luck.

What do borrowers say about Woodside Credit?

Not much as of January 2020. It gets an F rating from the Better Business Bureau (BBB). And although it’s been in business for 16 years, it’s not accredited with the BBB. Only two people have left reviews — both negative — giving it a pretty meaningless rating of 1 out of 5 stars. And four people have filed complaints against the company in the last three years.

Of the two negative reviews, one borrower mentioned rude and unprofessional customer service. And the other reviewer stated that when he reached out for an auto loan, he was denied, even though he had a credit score of 772 and offered to make a down payment of 50%.

Compare other car loan options

Data indicated here is updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
Carvana
No minimum credit score
3.9% to 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies
car.Loan.com Car Loans
300
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
300
Varies
Varies
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
500
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
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Compare up to 4 providers

How do I apply?

You can apply online, over the phone, by faxing your printed application or at your dealership.
Follow these steps to get started online:

  1. Go to Woodside Credit’s website and click Apply Now.
  2. Enter information about yourself and income before clicking Continue.
  3. Finish filling out the required fields with details about the car you’re purchasing.

Submit the application and wait to hear back from a Woodside Credit loan consultant. They’ll likely ask you to provide additional documentation to verify the information you provided.

If approved, either your dealer or Woodside Credit will provide loan documents to you, typically via email. After Woodside receives your completed paperwork, it will fund your loan.

What documents do I need to apply?

To complete the application, you’ll need to provide the following information:

  • Vehicle’s make, model, mileage, VIN, powertrain, purchase price, options, and loan amount
  • Deal structure — like cash down payment or trade-in value
  • Any existing loans
  • Proof of employment and income
  • Social Security number

How do repayments work with Woodside Credit?

You can make repayments to Woodside Credit online or by phone. You can also mail in your payment. Don’t let payments lax, or you may be stuck with late payment penalties — though it doesn’t disclose what these are on its website. And if you can pay off your classic car loan early, you’ll save yourself a bundle in interest.

See how Woodside Credit stacks up to the competition with our guide to classic car financing.

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