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CarsDirect Auto Refinance Review


ConsumersAdvocate.org Rating: 3.8 / 5 (Very good)
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CarsDirect is an automotive financing company owned by Internet Brands, Inc. and based in El Segundo California. It specializes in providing online buying services for new and used automobiles. CarsDirect connects customers with local dealerships and auto lenders to give them multiple options when shopping for a vehicle. Auto financing choices also include trade in and lease buyout.
 
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How is CarsDirect rated?

Breakdown

4.0/5
Loan Details
3.5/5
Customer Experience

Overall Rating: 3.8 / 5 (Very good)

CarsDirect is a multi-purpose website that assists people with choosing, buying, and financing new and used cars. The finance portion of its business operates as a marketplace. CarsDirect collects basic customer information and matches it with likely lenders. The auto loan portion of its website, however, is not very robust, especially when compared against companies that specialize in car loans. Very little repetutational data is available about CarsDirect, so consumers would do well to be cautious.

Auto Loans & Refinancing

Loan Details - 4 / 5

CarsDirect is not a lender itself, so the terms, interest rates, and minimum and maximum loan amounts are variable and set by the lenders. However, customers can see quotes for purchase and refinance loans.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Minimum Down Payment
10%

Loan Qualifications

Qualification - 3.5 / 5

CarsDirect is a loan marketplace. The qualifications that individual borrowers have to have are set by the banks and finance companies that CarsDirect refers customers to. However, prospective borrowers must be 18 or older, and willing to input their Social Security Number.

Borrower Qualifications

Minimum Age
18 or older
Minimum Income
No minimum
Minimum Credit Score
No minimum
US Citizenship Requirement
No
Verification / Documents Required
Social Security Number

Vehicle Qualifications

Mileage Limit
No Limit
Car Age
No Limit
Car Makes
Any Vehicle Make

Application & Service

Customer Experience - 3.5 / 5

Customers start the application process on the CarsDirect website by entering their names, dates of birth, addresses, housing information, and other data. This information is then matched with appropriate lenders.
Approval Time
1 day
Benefits/ Features
Online Rates / Application
Pre-approval Soft-credit Inquiry
Auto Loan Calculator

CarsDirect Reputation & Reviews

Reputation - 2.5 / 5

CarsDirect's parent company, Internet Brands, Inc. is listed as "NR" (Not Rated) by the BBB, meaning that there is insufficient data for the BBB to give the company a letter grade. The company has no presence on TrustPilot. Internet Brands has been involved in litigation centered around some very disturbing allegations, but it does not appear that those allegations have anything to do with its CarsDirect operation.
Number of BBB Positive Reviews
0
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
2

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
http://www.carsdirect.com
Company Phone
(888) 227-7347
Headquarters Address
909 N Sepulveda Blvd Fl 11, El Segundo, CA, 90245
Year Founded
1998

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