RapidCarLoans.net is an online vehicle finance company. It provides auto loans to those with all types of credit, including people with no credit or consumers with a past bankruptcy. Rapid Car Loans works with national lenders and subprime lenders alike to provide you with competitive loan rates. Additionally, it’s free to apply and the company offers guaranteed approvals within 48 hours or less.

Rank Chart
Loan Amount
New Car Term Length
Our Score
#1
$8,000 - ?
36 - 72 Months
6.1
#2
$5k-$100k
24-84
5.5
#3
$1k-$100k
36-84
5.0
#20
Rapidcarloans
Undisclosed
Undisclosed
2.5

The Good

  • Wide variety of financing options
  • Large network of lenders
  • No money down loans

Wide Variety of Financing Options

Rapid Car Loans offers loans in all 50 states. The company can help those with bad credit and provides second chance auto loans, low income loans, auto dealership financing, private party financing, and pre-qualified car credit sales.

Large Network of Lenders

Rapid Car Loans has a widespread network of lenders that offer instant car loans. Therefore, you can oftentimes be approved, even without a co-signer. Because the company has so many participating lenders competing for your business, you’ll have a better chance of getting the lowest rate and best terms possible.

No Money Down Loans

One of the best things about working with Rapid Car Loans is that you don’t have to put any money down to get your loan approved. It doesn’t matter if you want to buy a new or used vehicle, you can still do so without a down payment, regardless of if you are buying from a dealer or a private party.

Student Auto Loans Available

Rapid Car Loans offers student auto loans as well. To obtain this type of loan, you must be a student that is 18 years of age or older. The company makes it easy to get an auto loan even if you have a low income or a part-time job. Further, good credit is not the sole requirement for loan approval with Rapid Car Loans, which means you can apply regardless of your credit history and score.

Low Income Affordable Financing

Fortunately, Rapid Car Loans’ minimum monthly income requirement is just $1,000, which is very low.

The Bad

  • Rates not disclosed
  • Loan terms undefined
  • Misleading instant approval

Rates Not Disclosed

Unfortunately, Rapid Car Loans has not disclosed any of its rates. However, this is consistent with how the company does business since it uses a large network of lenders who base their rates on each individual situation. However, it would be helpful if Rapid Car Loans would disclose minimum and maximum rates or sample rates so that potential clients have a basic idea of what they can expect.

Loan Terms Undefined

Rapid Car Loans doesn’t provide any information about loan terms on its corporate website. The company could increase its transparency by disclosing minimum and maximum loan requirements, financing programs, loan terms, and fees.

Misleading Instant Approval

While Rapid Car Loans advertises that it will provide you with an instant approval, the company goes on to explain that loans are approved within 48 hours, which technically isn’t instant. This misleading wording may cause potential customers to question the company’s reliability and trustworthiness.

The Bottom Line

RapidCarLoans.net has a lot to offer, including a wide variety of financing options, a large network of lenders, no money down loans, and student loans. The company will work consumers with all types of credit, including those with a past bankruptcy, while guaranteeing approval within 48 hours. Rapid Car Loans also has a very low monthly income requirement of $1,000.

However, Rapid Car Loans could increase its transparency in a number of areas. The company has not disclosed interest rates, loan terms, or fees. Additionally, the company states that it offers instant approval, which isn’t exactly true.

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