Is CarsDirect a legitimate company?
Yes, CarsDirect is a legitimate service that connects customers with auto lenders and dealers nationwide. It has been in business since 1998, and there is no obligation to go forward with any loan you find through CarsDirect.
What happened to CarsDirect?
In 2004, the firm began to expand into other markets, and subsequently changed its name to Internet Brands in 2005. In June 2014, the company announced that it had been acquired by Kohlberg Kravis Roberts (KKR) for $1.1 Billion.
Is CarsDirect a lender?
CarsDirect is not a lender — it’s a search hub that helps you find loans from lenders it partners with. The site’s tools let you compare multiple auto loan options. CarsDirect says its customers usually are able to purchase their vehicles within 24 to 48 hours after completing the application process with a lender.
What happens when a car loan goes to collections?
Any remaining debt could be sent to collections. Your wages could be garnished; a lien could be put on your home. Even if you pay off the debt, an account in collections remains on your credit report for seven years from the date of delinquency.
How do I dispute a car payment?
To dispute the charge, file a claim with the credit bureau that you found the car loan on. This is typically TransUnion, Experian, or Equifax. You usually can do this online. However, you may want to call to file the dispute to get more information regarding the charge.
Can a finance company back out of a car loan?
If you got your loan through the bank directly, it’s rare to have your loan revoked after you’ve purchased your car. Banks may be able to revoke your car loan if your contract had language that protects the bank’s right to do so. Always read the fine print on auto loans.
Why you should never finance through a dealership?
If your credit score leaves something to be desired, dealer funding may be one of the few options available to you. This may result in higher interest rates, which reflect the lender’s risk and the lack of competitive offers from other lenders.
Can you buy a new car online?
Where can I buy a car online? More and more car manufacturers are starting their own online sales platforms for new cars — taking the hassle out of having to visit a dealership and letting you order a car from the comfort of the sofa, bed or even toilet seat if you fancy.
Why are there no new cars?
The Washington Post reports that the automotive industry may produce a whopping 1 million fewer cars than usual this year, largely due to the same supply chain issues and chip shortages that caused toy shortages around the world and grocery shortages around the country.