LendingTree is an auto loan online portal, meaning it connects borrowers with multiple lenders through one easy pre-qualification application.


The initial application for pre-qualification only takes minutes to complete, and once you’re in the system, you’ll receive loan offers from many reputable lenders across the nation, such as Wells Fargo and Chase.

Use LendingTree for your new purchase, refinance, or lease buyout needs and you will find that it provides a painless, hassle-free auto loan experience that its competitors can only attempt to mimic.

Car Loan Application Requirements

LendingTree doesn’t have a minimum credit score requirement and works with new credit, poor credit, and good credit borrowers. Just remember that rates and down payment requirements may be higher for less than ideal credit borrowers.

LendingTree also doesn’t have an income requirement because each individual lender has its own lending standards for borrowers. However, don’t stress out since you should only be matched up with lenders willing to work with you and your financial situation.

Looking for an income benchmark?

Usually, lenders like to see an income of at least $1,000 a month, but that number may vary depending on the lender.

Because LendingTree helps connect borrowers with lenders, it doesn’t set any limitations on age or mileage of used cars, but each lender may again have its own requirements.

When applying, you’ll have to answer personal finance questions to determine your eligibility, but during the initial phase, you won’t have to provide hard proof of any information you enter. Only once you have chosen a lender will you move onto this step.

Types of Auto Loans Available

LendingTree connects borrowers with lenders for every auto loan need. They offer loans for:

  • New cars
  • Used cars
  • Refinancing
  • Lease buyouts

Regardless of the loan type, they offer loan terms from one to seven years, which is pretty standard for the auto loan industry. The application process for each type is very similar, and only takes minutes to complete.

Fees and Rates

There are no fees associated with LendingTree, nor will any lender partners ask you to pay upfront fees to secure a loan.

Because LendingTree is an auto loan broker, the rates you’ll be offered depend on a few different variables, including:

  • Your location
  • The type of loan you applied for
  • The lenders you’re matched up with
  • Your personal financial profile

For this reason, each applicant receives different rates. To see what rates you’ll likely get, you’ll need to select a loan type and start the application process.

LendingTree’s Application Process

Location and Down Payment

When buying a new car, LendingTree first asks you what state you live in, and from there requests how much of a down payment you can put down. They strongly encourage you to put down some amount and claim that even down payments as small as $200 can help you get approved for a loan.

Loan Amount and Type of Car

After you input your down payment amount, LendingTree next asks you how much you would like to borrow. Don’t just put in any number because next they’ll ask you the make, model, and desired trim of the car you have in mind. If you just put in a random low number — say $15,000 — and then choose a $30,000 car, lenders may not want to work with you.

Don’t know how much you need to borrow?

Not to worry. You can use a handy cost estimator feature from LendingTree. So if you didn’t know how much of a loan you’d need, this part of the application process suggests that you may need to go back and change your loan amount.

Personal Information

LendingTree also requests information to determine your pre-qualification eligibility. Expect to enter:

  • Date of birth
  • Whether you’ve had a bankruptcy in the past seven years
  • Employment status (full time, part time, self employed, student, homemaker, retired)
  • How long you’ve worked at your job
  • Current employer
  • Job title
  • Pre-tax yearly income
  • Total liquid assets (how much money do you have access to?)
  • Email
  • Mailing address
  • Residence type (do you own, rent, or have another living arrangement)
  • If you own or rent, how much do you pay each month (this is for determining your debt to income ratio)
  • A valid phone number
  • Last four digits of your social security number

Because you’ll only enter in the last four digits of your social, you’ll only go through a soft credit check. This means that nothing shows up on your credit report that could potentially hurt your credit score should you decide to back out. Everything you’ve done at this point will only be for pre-qualification.

Loan offers

After you submit all of your information, LendingTree provides you with a list of lenders willing to work with you and your credit profile. When you select an offer, the lender will likely ask you to submit paperwork that verifies the information you entered during the personal information section.

Just know that when you do you’ll get a hard credit check on your credit report, which may temporarily lower your score by a few points

Any information you initially see may not be guaranteed. You’ll need to contact your chosen lender and submit additional information to get a guaranteed rate. Rates change daily, so contact them as soon as possible to secure a good rate if you’re offered one. Also keep in mind that if you don’t like what you see, you’re never under any obligation to accept an offer from any lender.

Special Features

If you need to know what your credit score is, you can get it through LendingTree for free. This can give you a better idea of what type of rate you’ll receive when you choose a lender. Though LendingTree works with lenders who service all types of borrower profiles, it’s smart to get an accurate estimate early on in the process to help plan your monthly payments.

Also on the website is a payment calculator. Simply enter in your expected loan amount, interest rate, and your desired loan term, and LendingTree will tell you how much you’ll likely pay each month. This is a great tool to have when determining how much car you can afford each month. While the amount each person can afford is different, a good percentage to stick to is 10% of your monthly income.

Bottom Line

Borrowers wanting to limit the impact of rate shopping on their credit scores should take advantage of LendingTree. The application only takes a few moments and once complete, connects borrowers with some of the best lenders in the business.

Not only is it hassle-free, but it’s also truly worry-free. You won’t have to wonder whether you locked in the best possible rate for you and your family because you’ll have seen what other lenders are willing to give you as well.