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Eloan User Reviews for E-LOAN:

Guy

Posted 01/22/06 - 13:57:49:

I am a first time buyer looking for a house...I completed the application online at eloan and within 2 minutes received a phone call from a representative...I was totally impressed. I've been in contact with the rep since this process began, and have absolutely no complaints. Very consumer-friendly and, it appears, honest...which is a good thing these days. Got pre-approved and a great rate at the same time...took less than a day...I'm happy...

Lisa

Posted 07/25/06 - 16:11:28:

I applied for an auto-loan with E-Loan. As promised, the entire process was incredibly simple, I was approved that day and received the loan documents and check within a week.

That's where the convenience ended. I was assured that my loan would be with E-Loan and not a separate company and that I could arrange to have my payments automatically deducted from my checking account. However, not only is the loan through another financing company (SST), I am unable to make ANY changes to my account without a fax machine.

Further, when I did get access to a fax machine (a local mail store) to send over a change, it was not approved because SST faxed me a confirmation letter, which I was supposed to sign, but did not advise that they were sending it. After a lengthy amount of time on the phone with SST, I was assured that the fault was theirs and that they would change my payment to the 16th.

Fast forward to the next month. I receive a letter that my payment had not been received on the 11th as scheduled. I call and remind them that my payment had been changed to the 16th. They showed no change had been made and that there was no reply to their fax. Yes, they sent me another fax that they didn't tell me about.

So, we agreed that I could make the payment over the phone....but wait. Their payment system is down. The rep says she will call me back in two hours. I waited all afternoon and received no calls or messages.

It is incredibly simple to get a loan through e-loan. Maintaining that loan, on the other hand, is an entirely different case.

Michael

Posted 10/10/07 - 23:27:13:

E-Loan auto loan. Bate and switch. I have perfect credit. Advertised low interest of 6.25% which was not available but offered 7.39% instead until I declined the loan. Had to call five times while system was down. Run through the hoops and asked to share what better deal I received so they could match it. One of the worst experiences I have ever had on the internet. BEWARE

Jim

Posted 04/18/08 - 15:52:23:

Thought I would try the "loan shopping" with E-loans. Was offered a loan through E-loans via Road Loans at over 14% interest! Also tried to convince me NOT to give personal info to any sales rep and to take THEIR extended warranty instead of any offered by a dealer. First of all I would never buy an extended warranty. Secondly, I received approval from HONDA, FORD, and even CAPITAL ONE with financing for all BELOW 7%. These are just the companies I applied to. I went with CHRYSLER at 6.5%. Do I think E-loan/Road Loans is a consumer RIP-Off? ABSOLUTELY!

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