Carputty auto loans: 2025 review

Carputty is best for frequent buyers

With Carputty’s line of credit, you can finance up to 15 vehicles at once through a single platform. Unlike traditional auto loan lenders, Carputty offers borrowers a tool to check vehicle value and either buy or sell based on trends in the car buying space. This is great for a driver who tends to swap out their wheels frequently.

Types of car loans that Carputty offers

Carputty offers auto loans for drivers looking to finance a new or used vehicle, refinance an existing loan or undergo a lease buyout. Lines of credit range from $25,000 to $250,000. Individual advances can range between $10,000 and $150,000 (provided you have that much credit available to you).

Repayment terms are a bit complicated. Once you’re approved for a line of credit, you have 24 months to start using it or it will close — but it remains active indefinitely if in use. Putting a balance on the LOC by funding a vehicle starts a 63-month term. At month 30, you have three options:

• Pay down the full balance with no prepayment penalty.
• Continue with the same rate, loan term and monthly payment.
• Extending your Flexline using a 24, 36, 48 or 60-month term. You’ll also receive a new rate based on the reference rate SOFR, which might be higher or lower.

New and used auto loans  

• Amounts: $10,000-$150,000/car
• APR: From 5.32 percent

The high maximum Flexline limit of $250,000 (or $150,000 per vehicle) makes Carputty a strong choice for those financing an expensive new vehicle or multiple vehicles at once. 

Auto loan refinancing

• Amounts:  $10,000-$150,000/car
• APR: From 5.32 percent

Refinancing your current vehicle loan can provide you with a lower monthly payment or better rates. Take advantage of a refinance calculator to determine if refinancing your loan could truly save you money.

Lease buyout

• Amounts:  $10,000-$150,000/car
• APR: From 5.32 percent

If you are interested in purchasing your leased vehicle, Carputty offers assistance and support throughout the process. A lease buyout can help you avoid steep wear and tear fees and allow you to hold onto your current vehicle. 

Where Carputty stands out

• Car buying support. Carputty offers borrowers assistance in the car-buying process through the V3 tool, which helps buyers determine the best time to buy.
• High maximum loan amount. Borrowers can finance for up to $150,000 per vehicle, or $250,000 total — on the higher end compared to traditional competitors.
• Preapproval. With the option to apply for preapproval, you can have an idea of your monthly payment and rates before signing off on your loan. Plus, unlike most lenders, Carputty will preapprove your loan with only a soft credit pull (followed by a hard pull when you finalize the loan). 

Where Carputty falls short

• Customer support. Carputty offers customer support on weekdays for borrowers only via chat function or email. For those who prefer assistance over the phone or in person, another lender may prove to be more suitable. 
• Confusing repayment terms. Your balance starts with a 63-month term, but there are options to extend it by a set amount or repay it early. This flexibility could be beneficial but the options are not clearly explained on the lender site. 
• Vehicle restrictions. Financed cars must have less than 85,000 miles and not be older than 8 years when you request the advance to purchase them. Some competitors set higher limits at 100,000 miles and 10 years old.

Carputty customer resources

Customer support 

Carputty provides customer support Monday through Friday via chat on its site from 8 a.m. to 6 p.m. EST or over email at help@carputty.com. Outside of the chat function, Carputty has a fairly in-depth FAQ section that outlines the application and financing process.

Digital experience

Carputty doesn’t have a mobile app, but you can easily navigate the website to find the information you need and apply for funding.

It’s worth noting that customer support is limited to chat and email, which could be a significant drawback if you prefer to speak to a representative by phone.

How this lender compares

Carputty vs. Autopay

Autopay offers borrowers the ability to buy a vehicle, refinance their existing one or undergo a lease buyout. Like Carputty, Autopay boasts a seamless online application process. Autopay has a lower minimum loan amount of $2,500, great for those financing a less expensive car. When choosing between the two, consider how your credit standing will impact available rates. 

Do you qualify for a Caputty auto loan?

Carputty does not disclose any specific income requirements, but to apply, borrowers must be at least 18 years of age, employed and a legal resident of the United States. 

• Credit history: Carputty wants to see a score of 680 or higher. However, its website notes that the lender considers more than just credit score when determining eligibility.
• Residency: Carputty is offered in all 50 states.
• Vehicle: The financed vehicle must have a model year less than eight years prior to the application and have fewer than 85,000 miles. It must also have a clean title.
• Loan-to-value: For those purchasing used vehicles, the LTV must not exceed 110 percent (for current-year used vehicles, the value is defined as 90 percent of MSRP). For new vehicles, the LTV must not exceed 100 percent of MSRP. 

How Bankrate rates this lender

The Bankrate team uses a 16-point system to evaluate auto loan refinance products across four main categories.