With myAutoloan, it’s a marketplace that matches borrowers that are looking for a variety pf auto loans to lenders. This website has prequalified offers, enables you to finish multiple offers at once, and comes out with tools to help the decision-making process. Even borrowers with poor to average credit will find options here.
Check out BadCreditLoans.com if you have bad credit and want a personal loan.
Read below for more information on what they have to offer.
myAutoLoan Features
| Car Loan Options | New car loan Used car loan Refinance loan Lease buyout financing Private party loan |
| Minimum Loan Amount | $8,000 to borrow $5,000 to refinance |
| Maximum Loan Amount | $100,000 |
| Loan Terms | 24 – 84 months |
| Funding Time | As soon as 24 hours after signing |
| Minimum Credit Score | 575, cosigner allowed |
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An online marketplace, myAutoloan connects borrowers seeking a car loan – new, used, refinance, lease buyout and private purchase – with multiple lenders. We like that the platform:
- Considers a range of credit profiles. myAutoloan accepts applicants with credit scores as low as 575. If you have poor credit, you can apply with a cosigner which helps improve your chances of approval and better terms.
- Fast application process. It takes less than five minutes to fill out the application. Offers are available within minutes, and you’ll receive a check in as soon as 24 hours after accepting the offer.
- Provides a car-buying service. You can shop for a car via myAutoloan, thanks to their partnership with TrueCar.
myAutoLoan Rates & Fees
Interest rates will depend on the lender, term, and credit. Like all types of loans, good interest rates need a good credit score.
myAutoLoan is completely free to use. But, every lender will have their own fees, so be sure to read through their offer carefully.
myAutoLoan Requirements
If you want to sign up for car loans with myAutoLoan, you have to:
- Be at least 18 years old (or minimum age in your state of residence).
- Live in a state where myAutoloan does business (everywhere except Alaska and Hawaii)
- Have a FICO score of at least 575
- Earn at least $18,000 gross annual income (for auto refinance) or $21,000 gross annual income (for all other auto loans)
Before you start with myAutoLoan, we recommend checking your credit. This way, you’ll have any idea of what kind of loan offers you’ll be eligible for.
The vehicle you want to buy or refinance must be 10 years old or newer and has at least 125,000 miles or less.
myAutoLoan Limitations
Before you start the application process with myAutoloan, keep the following points in mind:
- myAutoloan does not list all lenders.
- Loans are not available for Alaska and Hawaii residents.
- There is an $8,000 loan minimum for new cars.
- Vehicles are restricted to ten years or newer, and vehicle mileage must not exceed 125,000 miles.
- Different lenders have different rules.
- Direct sales calls from dealers and lenders.
- myAutoloan does not have a customer service number.
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Conclusion
Overall, when you sign up for myAutoLoan, it offers loans for new and used cars, even refinancing options for a variety of credit profiles. Additionally, you’ll be able to compare several lenders and offers with just one application. However, myAutoLoan shares your personal information with other lenders that might want to talk to you directly and try to get your business.
Here are some ways for you to improve your credit score.
