
LendingTree is a marketplace that simplifies the process by connecting you with multiple lenders—all from one online form. Instead of filling out separate forms, users typically receive multiple offers in minutes—ideal for comparing rates, fees, and terms efficiently. LendingTree supports new and used car loans, refinances, lease buyouts, and private-party purchases, offering flexibility across credit profiles.
Why LendingTree Works for Borrowers
- Soft-Pull Prequalification
Start with a soft credit check to preview offers safely without impacting your credit score. - Up to Five Competing Offers
Quickly compare loans from different banks, credit unions, and online lenders—not just one source. - Access for Many Credit Levels
From excellent to fair credit, LendingTree’s network includes lenders that serve a wide range of profiles. - Fast Funding Timelines
Selected lenders can fund loans as soon as 24 hours after acceptance. - Flexible Loan Use
Finance new or used vehicles, refinance your current loan, buy out a lease, or purchase from a private seller.
What to Know Before You Apply
- Online Only
LendingTree operates solely online—there are no physical branches. It’s fast, but all communication is digital. - Minimum Credit Required
Most lenders require a FICO score around 550–600 at minimum. Higher scores typically fetch better rates. - Vehicle Age & Price Rules
Loan eligibility varies: usually vehicles must be under 10 years old with mileage caps, and purchase prices often start at $2,500–$8,000. - Potential Lender Fees
While LendingTree doesn’t charge fees, some lenders may add origination or documentation costs—compare carefully. - Soft vs. Hard Credit Pulls
Soft pull offers rate estimates. Once you accept an offer, that particular lender will run a hard pull, which may slightly affect your score.
How to Apply — Step by Step
- Fill Out One Application
You’ll enter information like loan type, vehicle details, income, desired loan amount, and basic credit information. - Receive Multiple Offers
Usually within minutes (sometimes hours), up to five lenders present APRs, terms, monthly payments, and any fees. - Compare and Choose
Review total cost—not just monthly payment. Factor in APR, loan term, lender reputation, and any hidden fees. - Accept an Offer
Select a lender, submit the full application, and prepare for a hard pull. - Submit Required Documents
Provide proof of income, ID, insurance, and vehicle information. The lender reviews and approves. - Receive Funds
Get a check or direct deposit—most lenders deliver funds in 1–24 hours . - Pay the Seller
Fund the dealership, private party, or loan you’re refinancing. - Make Payments & Manage
Pay your lender directly via their portal. Loans are standard; SET YOUR AUTOPAY if available. - Refinance Later if Needed
If rates drop or credit improves, you can use LendingTree again to refinance for better terms.
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