CarsDirect is an online platform that aims to make the car buying process easy and fast. CarsDirect enables you to search for either used or new cars, and they also offer all sorts of financing and leasing deals by connecting you with their large network of dealerships, finance and leasing agencies, and lenders.
CarsDirect reckons that you can search for a car, buy it and receive it only a few days, but this is rather rare for various reasons. The membership for CarsDirect is easily achievable because it’s free of charge no matter how you use it.
However, buying a car through CarsDirect can be a good idea if the car in question is worth it. The entire process offered by CarsDirect is a decent one, but there are certainly better options out there. Be that as it may, if you find a car through CarsDirect, rest assured that you will not be scammed.
To sum it all up, CarsDirect is only there to connect you with potential lenders and sellers which means that CarsDirect does not sell anything. This also means that CarsDirect is safe and can be trusted, but that does not always mean that the seller can be trusted as well.
Why you should buy a car from CarsDirect
Whenever you want to buy a car, you need as much information as you can have before you are ready to make the final decision, and from that standpoint, CarsDirect is superior to most similar sites out there. CarsDirect offers plenty of information for all available cars which makes CarsDirect a great resource site.
CarsDirect offers you a few handy options such as Target Pricing which enables you to see the price others have paid for similar listings. They also offer one-stop-shop packages which enable you to trade in your old car, buy yourself a new one and finance it through CarsDirect.
It’s extremely easy to compare all the rates which ensure that you will always get the best price possible. The entire site is extremely easy to navigate and it is also gentle on those with bad credit. This means that no matter how situated you are, there is a chance you might strike a deal which is not something you can say for other similar sites.
Why you should not buy a used car through CarsDirect
Even though CarsDirect offers decent crediting options, it’s still not nearly as good as some larger banks or credit unions are, especially if you have good credit. As mentioned previously, good credit is not really a requirement to be able to finance a car through CarsDirect so you might get a deal better elsewhere.
Probably the greatest drawback of CarsDirect is the incredibly annoying solicitation. Whenever a lender realizes you are looking for a loan, they will sometimes call you multiple times per day and even after you’ve completed the entire process. This can be extremely frustrating for many customers as countless numbers of emails can swarm into your inbox all at once.
Even though CarsDirect does offer a trade-in estimate for your older car, that very same estimate is more or less useless. This means that whenever you receive an estimate directly from CarsDirect that does not mean that the potential dealers are not going to offer their estimate which can make the process a lot more difficult to assess.
Entry requirements and data security
In order to qualify for loans through CarsDirect, you need to be a US resident, be over 18 and receive a guaranteed income. There is a minimum requirements chart you need to satisfy to even become a part of the entire process. This means that you will need to hand out lots of personal data which can be an issue if you are not 100% serious about buying.
Even after you’ve successfully completed all the CarsDirect checks, individual lenders will still do a thorough check of all your data once again. This means that you will hand out your data to a lot of people which is never a good idea, especially when you consider all the aforementioned solicitations.
How can I boost my credit on CarsDirect?
As previously stated, CarsDirect is a great place for those with a bad credit score. Be that as it may, you can even boost your credit score by opting for a co-signer. If someone signs the deal with you, you will get better deals and better rates.
Either way, both CarsDirect and the lenders themselves will do a hard credit check on you and everyone you co-sign. However, you can also scout through many other lenders before you opt for a single deal, especially so if you have someone backing you.
Is CarsDirect free?
In order to use CarsDirect, you don’t need to pay any membership fees whatsoever. They primarily make money when loaners want to join their network, but they also earn money through AdSense and many other channels.
If you want your dealership to do business through CarsDirect, you need to pay a hefty amount of money to join the network. This means that CarsDirect is a legit platform and many lenders and dealerships are confident in CarsDirect finding their new clients.
What are the alternatives to CarsDirect?
Even though CarsDirect can be a great place to strike a deal, there are many other similar sites out there with their own set of benefits and drawbacks. Vroom is a site that primarily focuses on car trading without dealerships which makes it a lot easier to haggle from the price. Furthermore, they also enable door delivery services.
Carvana and Carmax are both extremely popular when it comes to online used-car dealerships. Both of these sites offer a large number of certified cars which can often be had for a rather tempting price.
Shift is also a similar site, but Shift only sells their cars which makes the deal easier because you are directly in contact with the owner which means that there are no additional fees that need to be paid.