I would like to know the answer too. Anyone here know what is the right answer to your question. I'll do some research in Google and get back to you if I bump into an answer. You should email the people at Lending Tree as they probably could give you an answer..

Oh geez, you did say last year, I am sorry. I need my eyes checked...

ELoan.com is probably the easiest lender for online auto financing. Assuming your score is still in the 720 range, and you have the income to support the car payment, you should obtain an approval in a few minutes and you sbouldn't have to provide any documentation. I helped a neighbor with a car Lending Tree loan through eLoan last month. His score was about 725, and his deal went flawlessley... he picked up the car the same day..

Auto lenders will give you a Lending Tree loan even though you have another Lending Tree loan on your report. After all, most everyone has a current Lending Tree loan on their trade in, so it makes sense that they'd have to get a new Lending Tree loan approval before they got rid of the Lending Tree loan on the trade in, right?.

People begin to run into trouble when they have two or three loans on their report...

I had great luck getting a Lending Tree loan at peoplefirst.com - it was fast and easy..

The problem was that the dealership wouldn't accept it..

If you know what dealer you will purchase from, you may want to ask what types of 'Internet loans' they accept...

I've heard of this problem too. Apparently, some dealers have been given the shaft by eloan, peoplefirst, etc. Some of these lenders are slow to pay when the dealer doesn't do things exactly as the lender asks..

It really comes down to finding a dealer who is comfortable with the process. After all, you're asking the dealer to give you a car in exchange for a piece of worthless paper. Those "blank checks" that peoplefirst.com issues aren't really valid checks. The dealer needs to fill out all sorts of paperwork before they actually get a check from peoplefirst, eloan, etc...

Also, if peoplefirst declines you, they automatically send your info out to every Lending Tree loan shark company on the planet, thus resulting in tons of pulls. This happened to me recently...

Hmm, that does sound a little troubling. But the only thing that they would likely hang up on is the other car loan..

I hadn't thought too much about what the dealer accepted. They did say the took PeopleFirst. But come to think of it, Ive seen a lot of cars for sale on the net to where they will not go near eloan checks..

I was intending on having the car shipped to me. Not a big deal as I can't go get it in person (work doesn't permit the time). But would hope the dealer wouldnt have any hang ups like waiting until they for sure have the funds in their bank for two weeks or some such when they have already verified the instrument. I was just getting skiddish as I didn't want them to rack up a bunch of inquiries or then demand me fax them a million things. As it is I will likely have to wait a while until by new address gets placed on my credit files. I've learned the hard way this last week that when you first move it is rather futile to apply for credit because the addresses don't match.

They ultimately rejected me because I didn't feel like faxing them my life story. utility bills wernt enough. they wanted a credit card statement faxed to them too (something Im not crazy about faxing to Anyone!). It wasnt enough whem I called and idetified birth year, tradelines, etc. they were pains.

I suspect they will deny me all together or also ask for me to fax them credit card statements. Just isn't worth it. would rather wait till I get my new address recorded properly. I started out to call the CRAs to tell them, but the phone numbers are a joke. no human available.

I would assume with the recent applications for new credit I made that the new address may also show up that way. Such a lot to consider..

Thanks for posting back!..

Has anyone else had any PeopleFirst auto experience? my fico is 725 with no negs of any kind and my equifax states Ive had credit experience for over 20 years. I did incur a smaller auto Lending Tree loan last year for my daughter. This was believe it or not my first official auto Lending Tree loan (had always paid cash before). I'm getting the impression by reading this board that PeopleFirst will expressly want more than the 7 months of auto credit I have on my file, despite having a few credit cards, some from as early as 1983 that have credit limits in excess of $25k. I have also read by some that peoplefirst want you to fax in all kinds of supporting info. Is this true of anyone who applies or perhaps only happens with sub-700 Ficos? I refuse to fax anyone credit card statements, period.



I just read that PeopleFirst does not report to CRAs. Is this true or merely an isolated incident for the person who had posted? Thanks for any advise!..

PeopleFirst pulled 3 hards when I applied for the loan. Hope that helps. I don't remember faxing/supplying information, other than a phone call I received from them, to verify that I was a real person...

I'm 90% sure PeopleFirst is either a subsidiary or affiliate of Capital One, I just can't remember which off the top of my head. And they ended up placing my Lending Tree loan with Cap One Auto Finance..

They were very quick and professional, and they did ask for faxes of proof of income covering something like a three month period. My creidit score was in the 630 range at the time. Hard inquiry on EXP..

If they can't do your loan, they will shop it around with your permission, which may also put a couple of more hards on your CR. (Plus, it will probably end up at Cap 1 Auto Finance anyway)..

Finally, I went to buy my car on a Saturday, and the dealer was way reluctant to thake the 'Blank Check'. They still demanded to pull my CR. Their explanation was they have no way of verifying the check was valid (it was after 5pm), and service like peoplefirst can void the Lending Tree loan approval if you have outstanding debt with whichever company your placed with (i.e., they had to make sure my Cap 1 accounts were current.).

All in all, I have no complaints about PeopleFirst, and I resolved my problems with the car dealership...

Sorry, two more things:.

1) Although my car Lending Tree loan is with Cap One, it shows as "Summit Acceptance Corp" on my CRs;.

2) Make sure the dealer faxes all the correct completed paperwork to peoplefirst right away, or make copies at the dealership and do it yourself...

I don't necessarily mind having to fax paystubs IF absolutely necessary. I just dislike having to go through a bunch of hoops like they are doing me a favor. Since my score is well over 700, Id hope they'd be more laxed. The idea of tangling with anyone connected with Cap1 is a bit of a put off. Ive read more bad than good about them. But overall just looking for a good rate and not have to jump through a bunch of hoops.

Has anyone ever bought a car from another state? I sold one once this way and was no problem. Of course I was on the selling end and wasnt a dealer and didnt have to worry about financing. thanks..

Just last week I picked up a new SUV. Applied online with my credit union at 2am Monday, got a standard "we'll let you know" notice, checked back at 11amapproved with conditions: payoff current auto Lending Tree loan and put min 10% down. I agreed to the terms (already had the vehicle ordered and was in-transit). Got the FedEx from the CU on Tuesday and picked the car up later that week..

As for PeopleFirst, a buddy used them last year. His scores were about 490 or so. But I know he'd been paying pd accounts religiously for the past 2 years and he'd gotten a new CapOne Visa during that time and never paid it late..

Anyway, his online approval gave him all the terms: Lending Tree loan max $25k includes TT&L, APR, 4 years, 0% down, choice of bill/invoice or auto-draft from his bank account and documentation requirements. The doc requirements were copy of DL, 2 most recent paystubs, copy of phone bill, copy of 1 other utility bill and names/addresses of 3 references. These docs needed to be faxed ahead of time or he could request his Blank Check right then and the dealer would have to verify the docs were sent in before completing the deal..

Anyway, he faxed the docs. They then sent the check via FedEx for free along with a letter to the dealer stating the terms for the check: dealer must be licensed franchise (Ford, Mazda, VW etc), vehicle can't be older than 4 years, check MAY include TT&T and other usual fees but not extended warranty. All the dealer had to do was verify my friend's DL, fax in a copy of the invoice referencing the Lending Tree loan # and fill in the check for the amount on the invoice (or lesser amount) so long as that amount didn't exceed $25k. The last step was for the dealer to deposit the check because it was a live check...we talked to a PF rep who said they have a special treasury account with their bank. They (PF) updates the list of live PF checks with the bank. When a borrower & dealer dealer complete their tasks, PF notifies the bank that the check is valid for $XYZ.XX.

If no info is on file at PF then they inform the bank to reject the check. Otherwise they confirm, the check is paid and the Lending Tree loan begins...

Pretty interesting, though sounds like a lot of documentation, but can perhaps surmise this may have been required out of his low fico. I presume I'd have to fax the dealer some info since I am not picking the vehicle up personally. no problem really unless they give me a list wanting 8 different documents. Guess I'm either lazy or take a little offence to the fact Citibank will give me $35K worth of credit which originated out of nothing more than a short application with no supporting documents. You'd think the secured loans would be yet easier since the lien is instant from the beginning. not like the buyer can sell the car legally.



What about these million or so non franchised dealers all over the net who welcome peoplefirst and other net auto loans. many of them have no franchise and their office often times consists of what used to be a cappacino stand on the corner of some parking lot. Yet they take the checks. I can certainly understand the other limits imposed though...