myAutoLoan Review — Auto Loans & Refinancing Comparison (2012)

If you are looking for an auto loan you may want to check out myAutoLoan.com. This company has been in business since 2003 and has been accredited by the Better Business Bureau since November 2003. It provides auto loan research tools and matches lenders with borrowers. Consumers get fast, near real time quotes from lenders who are competing for the loan. You can see and compare interest rates offered by the lenders before making a decision about which company best fits your needs. The myAutoLoan.com website also provides a handy payment calculator so you can see about what your payments will be based on the amount of the loan, the interest rate and the length of the loan.

Reasons to consider myAutoLoan.com: 

• It is a reputable company with a fairly long history.
• They allow the consumer to choose among offers.
• They provide a whole suite of auto buyer research tools.

The top advantages are:

• Being able to go to one source for price comparison, loan application and other research is very convenient.
• A professional website designed for with “user friendly” in mind.
• Your personal information is guaranteed secure.
• Physical address of the company isn’t buried under layers of webpages.
• An established company history with BBB A+ rating.
• Easy to find names and phone numbers for actual people in the company.

myAutoLoan.com does have some competition. One company competing for buyers is www.carsdirect.com. CarsDirect.com has some research tools, articles and financing components available on its website. They also have online resources available to the consumer such as Vehicle Research, Products & Services, Buying Help and Top Articles. Once an application is submitted the buyer will get a call-back from a “vehicle specialist” who will provide the best financing available from their preferred lenders. CarsDirect has an A- rating with the Better Business Bureau and has been an Accredited Business since April 1999.

Another competitor is www.autotrader.com. This company provides research tools with links to:

• Find Cars for Sale
• Car Research
• Sell Your Car
• Trade In Your Car
• Find Local Dealers
• Loans
• Insurance

In 2008 AutoTrader.com was ranked number one in satisfying dealers with new-vehicle leads for the second year in a row by J.D. Power and Associates. 

Why choose myAutoLoan.com? They can shop for the best possible interest rates and return offers within minutes of completing the simple application. Worried that it will take too long to fill out all those forms? With the easy three step process you’ll create a login, complete the application and have loan offers almost immediately. Worried about your personal information security? Your information is encrypted before it even leaves your computer. Worried that you won't understand part of the application process? Customer support is available. Besides having a choice in lenders the website also offers multiple webpage tabs so you can choose between loan types:

• New Loan
• Used Loan
• Refinance
• Private Party/Non-Dealer Loan
• Lease Buyout

There are also tabs for:

• Consumer Tools
• Auto Buying
• Insurance
• Credit

With all of this information on one website you won’t have to browse anywhere else. It’s all right there. The last car I bought I looked at multiple websites to figure out which car I wanted. Then I had to go to another set of websites to compare prices and still another group to figure out financing.