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Black Onyx Lending
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TLC Financing in Brooklyn, NY
TLC Financing specializes in auto financing and leasing for rideshare drivers, particularly those seeking Uber vehicle options in the New York area.
Data compiled from public sources · Rating from CreditDoc methodology
TLC Financing Review
TLC Financing operates as an auto finance and leasing provider based in Brooklyn, New York, serving the rideshare and taxi industry. The company focuses on helping drivers obtain vehicles specifically for Uber operations, addressing a niche market segment that requires flexible financing or leasing arrangements. With a physical office location at 100A Broadway in Brooklyn and contact information publicly available, TLC Financing positions itself as a dedicated resource for Uber drivers seeking vehicle acquisition options.
The company's business model centers on two primary service offerings: auto financing for purchase and auto leasing for those preferring rental arrangements. TLC Financing distinguishes itself by specializing exclusively in the rideshare sector, particularly Uber drivers who face unique financing needs and challenges compared to traditional auto buyers. This specialization suggests the company understands the income volatility and vehicle usage patterns specific to gig economy workers.
However, the company's web presence is minimal, with limited detailed information about loan terms, rates, eligibility requirements, or specific lease options available. As a smaller, specialized lender, TLC Financing may have less competitive pricing or terms compared to larger national auto finance companies, and the limited online information makes it difficult for potential customers to evaluate offerings before contact.
Services & Features
Auto finance solutions for rideshare drivers
Auto lease arrangements
Email inquiry support
Phone-based customer service
Uber vehicle financing
Uber vehicle leasing
Vehicle acquisition for transportation network company drivers
Feature Checklist
Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection
Pros & Cons
Pros
- Specializes in Uber driver financing, understanding gig economy vehicle needs
- Offers both financing and leasing options for flexible vehicle acquisition
- Based in Brooklyn with local presence serving NYC rideshare market
- Direct contact information available via phone and email for inquiries
- Focused niche allows for potentially tailored solutions for rideshare drivers
Cons
- Minimal online presence with no detailed information about rates, terms, or eligibility criteria
- No transparent pricing, APR ranges, or loan term options listed on directory
- Limited company background or business history information available
- Unclear whether service area extends beyond New York region
- No online application process or instant qualification tools described
Rating Breakdown
Value 5.0
Effectiveness 3.5
Customer Service 3.7
Transparency 3.5
Ease of Use 3.9
Frequently Asked Questions
Is TLC Financing legitimate?
Yes. TLC Financing is a registered company, headquartered in Mailing address, 100A Broadway #444, Brooklyn, NY 11249.
Quick Facts
- Headquarters
- Mailing address, 100A Broadway #444, Brooklyn, NY 11249
- BBB Accredited
- No
- Starting Price
- Contact provider
- Setup Fee
- None
- Money-Back Guarantee
- No
CreditDoc Diagnosis
Doctor's Verdict on TLC Financing
TLC Financing is best for Uber and rideshare drivers in the New York area who need vehicle financing or leasing tailored to gig economy work patterns. The primary caveat is that limited online transparency regarding rates, terms, and eligibility requirements makes it necessary to contact the company directly to evaluate whether their offerings are competitive or suitable for individual needs.
Best For
- Uber drivers in the New York area seeking vehicle financing or leasing
- Rideshare drivers who need flexible auto solutions tailored to gig economy income patterns
- Local Brooklyn-based drivers preferring in-person consultation for vehicle acquisition
Updated 2026-04-29
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Financial Wellness Guides
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Read guide →Financial Terms Explained (7 terms)
New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
Interest & Rates
APR — Annual Percentage Rate
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Why it matters
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Interest Rate
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Why it matters
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
How Loans Work
Cosigner — Loan Cosigner
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Why it matters
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
Loan Term (Tenor) — Loan Term / Tenor
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Why it matters
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
Origination Fee — Loan Origination Fee
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Why it matters
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
Principal — Loan Principal
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Why it matters
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the fastest way to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
Underwriting — Loan Underwriting
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Why it matters
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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