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CarFinance.com

3.1 out of 5 stars
24 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.

Jan 07, 2017
Stay away, would not recommend
Toki1 Borrower

Applied for it as a refi, did lower monthly payment, BUT after the processing of the loan was over their responsiveness nose-dived considerably and their online account access in non-existent. I had no idea that you could NOT view your account with them online. They do have a website, but Carfinance merged with Flagship credit who is now servicing their loans, when you go the website to make a payment as a Carfinance customer there is NO CUSTOMER ACCOUNT PORTAL! They give you a link to click on to make payments and your options are an online payment via Western Union quickpay, Moneygram, or you mail in a payment from your back or manually write a check, THAT'S IT! You do get a bill every month but it is NOT an itemized statement. It does NOT show you how much of your payment went to principal and how much went to interest or what your current cumulative balance due is. Good luck trying to get an itemized statement by calling customer service, just NOT going to happen. I highly recommend to NOT finance with this company whatsoever. RUN from them! 

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Jan 05, 2017
Rude Attitude
Anonymous Borrower

I called to let them know that I'll be making my payment late. And the lady was laid back with her words. No professionalism at all. She said "why haven't you made your payment?" Well the reason was told and should be noted on my account. And she said oh well we need to know again. What?!? 

Never ever again with these people. 

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Jan 01, 2017
Not easy to work with.
MelBuetti Borrower

I applied and got my rate and payment reduced which was great.  However, a few years into the loan and with some additional financial issues, I attempted to see if I could get an extension on my payment and they have no such offer.  Also, I attempted to refinance my loan to try and get away from them, however, due to them not being FDIC Insured, I cannot refinance.  I was advised that due to them not being FDIC Insured, the new company would be taking a risk sending them money to pay off my loan as they are under no contract and give no guarantees that the money they received would pay my loan off, hence I am STUCK with them.  Please use extreme caution.!!!!

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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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Jan 06, 2017

No one can make you pay for nothing you cannot afford. At the most your car would have gotten repoed but you are not obligated to pay for the car if u lose it. Of course yes it would have been on your credit report as well but falls off after 7 years

 
Jan 07, 2017

If you cannot afford to pay for the car, the most they can do is repo it. They'll auction it off and bug you with letters & such if there's still a balance owed, but that's about it. Yep, it will be on your credit, but car credit is easy to get even with repos and bankruptcies as long as you have a down payment and a job. Eventually, it will fall off credit report and you move on. Stop stressing over something that was beyond your control. Life's too short.

 
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. 

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1 Reply
Dec 09, 2016

ya, i heard by alot of people that no one should ever use this socalled lender, just another scumbag bunch of lowlifes trying to steal from everyone.. soon to be shutdown anyway .

 
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