Our Methodology

How FairRate Today scores personal loan lenders and auto insurers: the gates, the weights, the sources and how often we re-check.

Last reviewed Nov 6, 2026

This page explains exactly what we look at when we compare products, so you can judge our conclusions for yourself. We apply the same criteria to every provider, whether or not we have a business relationship with it.

Same rules for everyone

Partners and non-partners are scored on identical, published weights.

Primary sources

Provider disclosures, regulators and named studies, cited where used.

Re-checked every 30 days

Rate tables carry a “Rates verified” date, and every page shows its last update.

Personal loans

How we score lenders

For each lender we collect the published APR range, loan amounts, repayment terms, fees and eligibility requirements, then score it on six weighted factors.

Must pass to be listed

  • Maximum APR below 36%No high-cost loans.
  • Term longer than 60 daysNo payday-style loans.
FactorWeightWhat we check
Cost35%Minimum and maximum APR, origination fee, late fee, prepayment penalty (none is best)
Transparency20%Rates and fees disclosed before applying; prequalification with a soft credit check
Eligibility15%Minimum credit score, income and debt-to-income rules, co-signer or joint applications
Loan flexibility15%Range of amounts and terms, direct payment to creditors, payment date changes
Speed and convenience10%Typical time to funding, fully online application
Borrower support5%Hardship programs, customer service channels, education

Auto insurance

How we evaluate insurers

Car insurance prices are personal. They depend on your state, ZIP code, vehicle, driving record, age and, in most states, credit-based insurance score. So we never claim one company is cheapest for everyone. Instead we score six factors.

FactorWeightWhat we check
Price competitiveness30%How quotes tend to compare for common driver profiles, using public rate filings and published studies
Financial strength20%Ratings from independent agencies such as AM Best, which measure the ability to pay claims
Claims and complaints20%Customer satisfaction studies and complaint data reported to state regulators and the NAIC
Discounts15%Bundling, safe driver, good student, telematics, defensive driving and payment discounts
Coverage options10%Gap, rental reimbursement, roadside assistance, accident forgiveness, new-car replacement
Availability5%Number of states served and eligibility restrictions

Data sources

Where our data comes from

Providers

Websites, rate and fee disclosures, and terms published by the lender or insurer.

Government and regulators

The Consumer Financial Protection Bureau, the Federal Reserve, state insurance departments and the NAIC.

Independent research

Studies and rating agencies, cited on the page where they are used.

How often we update

From data to rating

  1. 1Collect

    Gather APR ranges, fees, terms and requirements from primary sources.

  2. 2Verify

    An editor checks every figure against its source and recalculates examples.

  3. 3Score

    Apply the weights above the same way to every provider.

  4. 4Re-check

    At least every 30 days, and whenever a provider announces a change.

What our ratings are not

A shortlist, not a guarantee.

Our ratings are editorial opinions to help you build a shortlist. They are not a guarantee that you will qualify or receive a particular rate. Always compare the official offer and disclosures you receive before you accept a loan or bind a policy.

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