Person Typing On Laptop

Where Can I Apply For A Car Loan Online?

Learn more about the benefits and drawbacks of the most common lenders: banks, online lenders, credit unions, and dealerships

Where Can I Apply For A Car Loan Online?

When you're ready to purchase a car, one of the biggest questions that comes to mind is how you'll pay for your vehicle. Thankfully, it's easier than ever to get an auto loan as there are more companies available to get your financing through. 

Most companies, like Listerhill, offer the ability to apply for a car loan online to make the process even easier. Below, you'll find some of the financing options you can consider when you're ready to apply for a car loan online. 

Traditional Banks

One of the options many people will consider when applying for a car loan online is a traditional bank. While you can usually complete the car loan application process at a physical bank location, most have streamlined their process so it is done online.  

Banks can process loans quickly and generally have simple processes to make it easy. Depending on your credit, you may qualify for low and competitive interest rates as well.

Keep in mind that banks may be able to offer you a good rate; however, they may still not beat rates from your local credit union, especially if you have great credit. Make sure to shop around before making a final decision on lending. 

Online Lenders

With the surge in online auto loan popularity, many online lenders have popped up as an alternative to getting a car loan online through a traditional bank or credit union.  

One word of caution with online lenders is to ensure their legitimacy and reputation before you work with them. Since they have a strictly online presence, it can be easier for them to operate with less than honest practices and policies. So, review their Better Business Bureau profile and do your research before settling with an online lender. 

Online lenders may be able to work with you more flexibly than a bank if you have lower credit. However, they may take advantage of those with a lower credit score by offering very high interest rates of 20% or higher. If that's your only option, it's good to have it, but in general, you want to be leery of accepting such high-interest rates for an auto loan. 

Credit Unions

Credit unions are known to have some of the lowest loan rates available since they operate as a nonprofit organization!

Because they are nonprofit, they're more flexible with their financing and allow individuals with a range of credit scores to have the opportunity to obtain a car loan.

The personal relationship credit unions build with their members enable them to view each person and their circumstances individually, and that is a benefit to everyone. You can see more about borrowing from Listerhill Credit Union here

Dealerships

Another option for you is to secure financing through a dealership. While some dealerships don’t have an online application process, many do as they understand the popularity of applying for an auto loan online. 

The process of getting auto financing through a dealership is preferable because of the way their system is set up. Dealerships can "shop around" for the best car loan for you with only one hard hit to your credit. This is because they work with several lenders whom they send your application to in search of one that will work best for your current financial situation. Another benefit to getting a car loan through a dealership is that they offer various promotional rates, including no down payment and 0% financing fees for those with an excellent credit history. You can even receive financing through Listerhill at our participating dealerships, which you can see here

Keep in mind, dealerships tend to have higher interest rates than you'd get straight from a bank or credit union and similar to an online lender, if you have low credit, they charge much more than the average rate to finance a loan. You may have more luck going straight to a financial institution for borrowing beforehand if this applies to you. 

Deciding Where To Apply For A Car Loan Online

Nothing beats the convenience of applying for a car loan online!  

From the comfort of your home, you can research the options available to you, determine which one you prefer and work out all of your terms. 

At Listerhill Credit Union, we offer our members many of the perks you'd expect from a credit union, and some you might not. When you apply for a car loan online with us, you get competitive interest rates, no application fees, flexible payback terms up to 75 months and $0 down payment options.  

Learn more about financing your next vehicle with Listerhill Credit Union! 

default icon for Solution Finder Intro
What can we help you with?
default icon for Checking For Mature Members
What are you borrowing for?
default icon for Checking For Mature Members
Vehicle Options
default icon for Checking For Mature Members
Home Options
default icon for Carrolls
What are you saving for?
default icon for Carrolls
How old are your kids?
default icon for Cord
Which of these banking options are you interested in?
default icon for Cord
How old are you (or your child)?
default icon for Cord
Are you a UNA student?
default icon for Cord
What do you want to do?
default icon for Cord
What do you want to do?
default icon for Cord
What do you want to do?
default icon for Cord
What do you want to do?
default icon for Cord
How old are you?
search popup background

What are you looking for?

Common Links

Frequently Asked Questions

  • Maintenance Fee

    New Fee:Details:
    Maintenance Fee We are introducing a new $5/month Maintenance Fee to all members. However, this fee can be waived if you meet just one of the following criteria: 

     • You or someone in your household has had a current loan or mortgage within the last 12 months. 
     • You or someone in your household has an open credit card 
     • You or someone in your household has an aggregate average daily balance of $3,000 in your accounts
     • You or someone in your household has a relationship with our Listerhill Financial Services department 
     • You have paid at least $125 in NSF, Transfer, or Courtesy Pay fees for the month 
     • You are under the age of 25 
     • Your account is less than 90 days old 
     • You have paid a Return Mail Fee or an Inactive Account Fee for the month
  • Jumbo Certificates Early Withdrawal Penalty

    Existing Fee:Changing To:

    Jumbo Certificates Early Withdrawal Penalty

    • Terms of 1 year or less: 30 days interest

    • Terms of over 1 year: 90 days interest

    Monthly Certificate Early Withdrawal Penalty

    • Terms of 1 year or less: 90 days interest

    • Terms of 18 mos-2 yrs: 180 days interest

    • Terms of over 2 years: 210 days interest

  • Regular Certificates Early Withdrawal Penalty

    Existing Fee:Changing To:
    Regular Certificates Early Withdrawal Penalty

     • Terms of 1 year or less: 30 days interest 
      
     • Terms of over 1 year: 90 days interest
    Quarterly Certificate Early Withdrawal Penalty 

     • Terms of 1 year or less: 90 days interest 

     • Terms of 18 mos-2yrs: 180 days interest 

     • Terms of over 2 years: 210 days interest
  • Relationship Fee

    Existing Fee:Changing To:
    Relationship Fee This fee is being eliminated. If you currently pay the $10/month Relationship Fee, you will no longer be charged this fee.
  • 60 or 72 Month Jumbo Certificate

    Existing Account:Changing To:What This Means:
    Jumbo Certificates 
    (60 month and 72 month)
    Monthly Certificate 
    (60 month)
    Certificates will now be offered in six terms instead of ten terms and a reduced minimum opening deposit of $500 is required. However, you will continue to receive the following benefits: 
     • Interest Paid Monthly 
     • Interest Paid by Deposit to Affiliate Account (Early withdrawal penalties have changed. Please see chart below.)