NEW
Carputty: Bankrate 2024 award winner for best auto loan for used car purchase
4.3
Bankrate Rating = 4.3/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APR from
The annual percentage (APR) includes your interest rate, plus any loan fees. It reflects the total cost of borrowing.
4.85-
12.85%
Loan term
4-6 yrs
Loan amount
$25k- $250K
Min credit score
680
See rates
Apply on partner site
This lender is registered in states where it does business and was vetted by the Bankrate Editorial team.
Expert Take:
Carputty is a unique service that allows you to take out a line of credit to finance your vehicle. And while $10,000 is the minimum you can finance, it is one of the few lenders that offers six-digit financing. Plus you can buy and sell vehicles through its app.
Known qualification requirements
- Minimum credit score of 680
- Less than 8 calendar years old
- Less than 85,000 miles
- LTV of 110%
Fees
- 1% of financed amount when vehicle is added to the line of credit
- $250 vehicle removal fee
Pros
- Low APR range
- High maximum loan amount
- Car-buying service
Cons
- Limited term options
- Minimum loan amount of $10,000
- Origination fees
Disclosures
- Apply for a Carputty Flexline and have access up to $250k of financing available for any eligible vehicle.
- Carputty currently serves customers in AK, AR, AZ, CO, CT, DC, FL, GA, HI, IA, ID, IL, KS, KY, MA, MD, ME, MI, MN, MO, MT, NC, ND, NE, NH, NJ, NM, NY, OH, OK, OR, PA, SC, SD, TN, TX, VA, WI, WV, and WY.
- Same rates available on a new or used vehicle of 2016 model year or newer.