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CarFinance.com

3.0 out of 5 stars
27 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

2.5 out of 5 stars

Customer Service

2 out of 5 stars

3 5

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Most Helpful Positive Review

Jun 03, 2016
Financed after chapter 13 discharge
Jlnea06 Borrower

My husband was in desperate need of a truck during our chapter 13 bankruptcy but we held out until after discharge to avoid all the red tape with the bankruptcy court and two months after discharge we walked into a dealer looking for one. The dealer found carfinance for us.  They financed a 30k truck at 13% for us which is lower than I expected since our scores were sitting at about 530 and our discharge was new.  Our income and job history I assumed played a roll because collectively we are over 100K, 15 years at my job and 11 at his.  In addition to being basically debt free from the completed chapter 13 other than a mortgage and a few medical bills.  My only complaint with CarFinance in the past 10 months since we bought the vehicle is that I can't pay online without paying additional fees.  I see the comments about them harrassing you when you are late but I haven't been late so I can't speak on that.  I mail the payment within a few days from the statement arriving.  So the bottom line here is if you have bad credit but good work history, enough income to afford the payments, and you pay on time you shouldn't have any issues getting approved nor with their service because you never need to deal with them.  Just pay your payment. However, now our credit has increased alot because I am on top of credit repair so here in a few months we will be looking to refinance for a lower rate not because we don't like them. I didn't give them full stars because of the fees to pay because I don't like mailing checks!  They need to get with the times and allow free online pay.

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Most Helpful Negative Review

Jun 12, 2016
Not Worth It
Brandi850 Borrower

I was recommended by Credit Karma to apply with Open Road Lending.  This is the actual company that refinanced my car loan.  I did get a significantly lower APR and payments went from $360 tp $311, but my contract term was longer. Now it will take longer to pay off. This company has no online visibility for your acount or an paperwork.  You have to set your payments up through western union speed pay.  It is not worth it.  The representatives barely speak English and it is hard to get a representative online. I am constantly getting disconnected. 

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These reviews were written by current and former borrowers in the last year.

Dec 06, 2016
Disappointing
Unhappy72 Borrower

This was a very bad decision on my part, I had my car refinanced with this company, this is a loan company not a bank there willingness to help with deferments is long and disappointing, I have my daughters car financed with capital one , there deferment process with them was quick and satisfying. There customer service is blah to say the least. Unfriendly and unapologetic.

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Nov 23, 2016
Good service until they owed me money.
Anonymous Borrower

I didn't have any issues with this company until I refinanced my car with another bank.  That bank overpaid CarFinance and I should have received a refund from them.  That was two months ago and serveral phone calls later and I still have not received a check.

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Oct 05, 2016
Anonymous Borrower

They offer me this and then denied me every time

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Sep 23, 2016
Easy ro get easy to lose
Anonymous Borrower

My husband and I were rebuilding a low credit score recommended by USAA.  After 1 plus years on early payments.  He lost job.  We ask for help till he could find another.  Tried even to turn car in.  Company was not helpful and even tried to make us feel frightened over collections methods of unpaid a,punt if we did so. Saying they would get paid either way.  

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Jun 23, 2016
Unscruplous
Anonymous Borrower

This lender is terrible. First their online loan process does not work. I called in, they asked me to fax documents. FAX? who faxes anymore. The rate they offered on a 675 credit score was 7 points higher than the credit union I applied with after trying these guys. What a joke and waste of time.

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Jun 18, 2016
Great service. Cut t interest in half.
Anonymous Borrower

I filed bankruptcy in 2011....credit scores for 598 to 640.... process was a pain because it was my birthday month and car is from out of country. ..I have 6500 dollars wortho credit and high usage....I Make over 40k a year.... I am saving over 1200 dollars a yr. 

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Jun 12, 2016
Not Worth It
Brandi850 Borrower

I was recommended by Credit Karma to apply with Open Road Lending.  This is the actual company that refinanced my car loan.  I did get a significantly lower APR and payments went from $360 tp $311, but my contract term was longer. Now it will take longer to pay off. This company has no online visibility for your acount or an paperwork.  You have to set your payments up through western union speed pay.  It is not worth it.  The representatives barely speak English and it is hard to get a representative online. I am constantly getting disconnected. 

more ...
Jun 03, 2016
Financed after chapter 13 discharge
Jlnea06 Borrower

My husband was in desperate need of a truck during our chapter 13 bankruptcy but we held out until after discharge to avoid all the red tape with the bankruptcy court and two months after discharge we walked into a dealer looking for one. The dealer found carfinance for us.  They financed a 30k truck at 13% for us which is lower than I expected since our scores were sitting at about 530 and our discharge was new.  Our income and job history I assumed played a roll because collectively we are over 100K, 15 years at my job and 11 at his.  In addition to being basically debt free from the completed chapter 13 other than a mortgage and a few medical bills.  My only complaint with CarFinance in the past 10 months since we bought the vehicle is that I can't pay online without paying additional fees.  I see the comments about them harrassing you when you are late but I haven't been late so I can't speak on that.  I mail the payment within a few days from the statement arriving.  So the bottom line here is if you have bad credit but good work history, enough income to afford the payments, and you pay on time you shouldn't have any issues getting approved nor with their service because you never need to deal with them.  Just pay your payment. However, now our credit has increased alot because I am on top of credit repair so here in a few months we will be looking to refinance for a lower rate not because we don't like them. I didn't give them full stars because of the fees to pay because I don't like mailing checks!  They need to get with the times and allow free online pay.

more ...
May 17, 2016
Too many fees
Theolox Borrower

If you get this loan, understand that everything they do is second class.  If you want to make a payment online, you have to pay an additional fee.  To avoid the fee, you may decide to mail the payment.  If it doesn't arrive on the due date, they will call you 5-6 times a day starting the very first day you are late.  Even if you speak to them and explain that you have already mailed the payment, they will ignore the comment in your file and continue you call you anyhow.  (I'm not even kidding)  If you already have a car loan, do NOT refinance with them.  If they are the only ones who will approve you, caveat emptor...

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May 12, 2016

I was trying to replace my wife's car and while most lenders were offering me loans with 20-50% down and 21% interest, CarFinance.com got me a loan with $0 down and 12% interest.  It was super easy and all online. I got a funding certificate, took it to the dealer and walked out with the perfect car in about an hour. Awesome!!

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