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MaxCarLoan Review

MaxCarLoan connects people in need of an auto loan with lenders.

The company serves as a broker to find rates and terms that work based on an individual’s specific budget and requirements.

Customers do not have to waste time fruitlessly shopping around between lenders to find the best deal in an already saturated industry.

As an online marketplace for auto loans, MaxCarLoan gives applicants access to hundreds of different offers.

It can include options for pre-approval, competitive APRs, and more.

If you are interested in acquiring a loan through MaxCarLoan, here is what you need to know.

Table of Contents:

  • About MaxCarLoan
  • Fees
  • Security
  • Pros
  • Cons

How MaxCarLoan Works

MaxCarLoan has a straightforward loan process that requires three steps.

First, applicants must fill out an online application, which includes some basic questions about residence, salary, and contact information.

There are also sections on whether you have a cosigner or if you have previously declared bankruptcy.

Next, MaxCarLoan will then take the time to review the contents of the application.

They will reach you via phone or email to inform you of the results.

Finally, if you receive approval, you can purchase your vehicle later that day.

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How Much Can I Borrow From MaxCarLoan?

Since MaxCarLoan plays the role of a broker, the amount you can borrow will depend entirely on the lender you select.

A myriad of other factors also influences the details, like your down payment capacity, personal financial situation, and credit score.

MaxCarLoan APR

The APR that applicants receive from lenders depends on a multitude of factors.

It can include annual salary, debt to income ratio, and credit history, among other elements.

If an applicant has a high credit score (above 700), they are more likely to receive a low or favorable APR.

MaxCarLoan does not determine the APR on its offers.

Instead, it forwards the rate of lenders or dealerships to the applicant. The APR can be anything.

APR might be as low as two to four percent, depending on the length and size of the loan.

Some lenders may have a special offer going, which features zero APR as a way to entice customers into purchasing a new vehicle.

MaxCarLoan Fees

MaxCarLoan does not have any fees associated with its auto financing service.

Applicants also do not have to accept the terms of an offer from participating lenders or car dealerships.

MaxCarLoan even specifies on their website, “Our service is completely free to use!”

Is MaxCarLoan Safe?

MaxCarLoan is a safe and effective way to shop for auto financing.

The company leverages experience in the auto industry as a way of finding customers the best possible terms on their loans.

This broker arrangement is useful for people who do not have the expertise or time to research car loans extensively.

MaxCarLoan does not directly lend money to applicants, so it is impossible to comment on their financial security. The information will depend on the offer you choose to accept.

If you are interested in learning more about the credit and financial ratings of a lender, peruse their scores from reputable agencies, such as A.M. Best, Moody’s, Standard & Poor’s, and Fitch

Pros of MaxCarLoan

Quick Approval

Immediacy is the name of the game when it comes to surviving in the modern auto loan industry. MaxCarLoan stands out with instantaneous results on whether applicants are eligible. You do not have to waste time waiting for a response from the lender.

Poor Credit Eligibility

If you have no credit or poor credit, MaxCarLoan can be an appealing option. They work with auto dealerships and lenders, and they know in advance where you are most likely to get approval. The industry insight can be especially useful when it comes to saving time and effort on researching loans.

Poor credit comes with a range of limitations, such as higher APRs. Being able to compare several options where you have guaranteed approval can make wading through these limitations much easier. The online application process is also fast and straightforward, so you can get the results you need quickly.

No Application Fees or Obligations

Prepayment fees. Late fees. Origination fees. Services fees. None of these apply to MaxCarLoan.

The company explicitly states that its service is free to use for all applicants. The caveat is that the lender or loan provider may stipulate fees in the offer, though, so take this pro with a grain of salt.

Applicants do not have to accept offers that MaxCarLoan presents. It is possible to continue shopping around after receiving prospective loan approvals if they believe there is an opportunity for a better deal. Typically, an offer will expire within a month of its origination.


The intermediate nature of MaxCarLoan means there is no limits to the terms, rates, and other features of your loan. If you are set on having a cosigner or getting pre-approval, MaxCarLoan will be able to search for loans with those precise specifications. Similarly, there are no restrictions on the make, model, or mileage of your vehicle.

Cons of MaxCarLoan

Not a Direct Lender

MaxCarLoan does not provide applicants with funding. Instead, they work as an intermediary between the applicant and the lender. The fact that they work as a middleman may be a deterrent for people who want to work directly with loan providers.

The “About Us” Section

If you visit the MaxCarLoan website, you will find a sleek landing page and intuitive design. Conspicuously missing from the site, though, is an “About Us” section. The omission is not a red flag, necessarily, but it may raise some eyebrows.

It is impossible to know how rigorously the company holds to standards for customer service or its origins. By the same token, MaxCarLoan has virtually zero online presence. Organizations, such as the Better Business Bureau and, do not currently have reviews of the company.

If you want to read reviews about customer’s experience working with MaxCarLoan, you are out of luck.