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finder.com’s rating: 3.8 / 5.0
★★★★★
$8,000
Min. Loan Amount
$100,000
Max. Loan Amount
Starting at 2.15%
APR
Min. Loan Amount | $8,000 |
---|---|
Max. Loan Amount | $100,000 |
APR | Starting at 2.15% |
Interest Rate Type | Variable |
Requirements | 550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old |
Car loan APR ranges change daily. Your actual APR offers may be different depending on your credit qualifications.
To get a car loan with myAutoloan.com, you must:
Applicants with a credit score of 550 or greater have a better chance of qualifying.
MyAutoloan.com isn’t a direct lender. Rather it’s an online marketplace that connects people looking for high-amount car loan with lenders that fit your criteria. It’s designed to guide you through a car loan search by helping you find, compare and eventually choose a lender.
MyAutoloan.com offers options to those with fair credit or better. You’re better positioned for a loan with favorable terms if you have a credit score above 550. Like with most other car loan providers, any preapproved offer is good for up to 30 days.
You can get almost any standard type of car financing with myAutoloan.com — except leases. These include:
Although myAutoloan.com doesn’t charge you a fee for its connection service, it makes its money through lender partnerships — a common practice for these types of sites. It charges dealerships and financial institutions a fee for every potential customer it sends their way, limiting your best offer to those from its networked lenders only.
Other drawbacks of borrowing through myAutoloan.com include:
Yes, myAutoloan.com uses trusted technology to encrypt your personal and financial information when you apply online. Communication between myAutoloan.com and its lenders are also encrypted.
But be aware that financing marketplaces work in part by giving your information to lenders. You may want to consider a different type of financing service if this doesn’t sit well with you to have your information shared for marketing purposes.
It’s accredited by the Better Business Bureau with an A+ rating. With 400 user reviews on Trustpilot, 74% rate the service “Excellent.” The average company rating is 8.8 out of 10.
Many reviewers complimented myAutoloan.com’s customer service, though some were unhappy with the lenders they were ultimately connected to. myAutoloan.com makes an effort to respond to customer reviews, a sign that they might be more receptive to helping out customers when something goes wrong. Other reviewers were very satisfied with the rates they received and the seamlessness of the whole process.
It’s quick and simple to be fit with a loan through myAutoloan.com. Here’s what you have to do:
You could be connected with up to four lenders after you apply. Compare your offers and choose the best one for your needs. There’s a chance your lender will ask you to submit additional documentation and information before giving you a final decision. The whole process typically takes about a day or two.
You won’t need to provide documents to initially apply with myAutoloan.com. But the lender you’re ultimately connected with will generally ask for:
Time to start making repayments. See if you can set up autopay with your lender to make sure you don’t miss any payments — some also offer slight discounts for customers with autopay.
Be sure you set it up with an account that will have enough money to make the payment is due. Otherwise, you could be slapped with a nonsufficient funds fee.
You have a couple of options: You can continue to look by applying with other online marketplaces or you can conduct the search on your own.
It’s helpful to figure out why your attempt to find a car loan through myAutoloan.com was unsuccessful. Were you unable to find a dealer that was willing to give you good rates? Did you have a specific car in mind but couldn’t find financing for it? Use this information to guide you through the next phase of your search.
In addition to connecting borrowers to car loan providers, myAutoloan.com also offers the following features services:
If you need car financing fast, myAutoloan.com could help. It cuts down on looking for, comparing and choosing a lender — but your options are limited to only those in its network.
Although it appears to offer loans even for people with bad credit, applicants with credit scores above 550 have a better chance of approval. Having an even higher credit score might get you the best loan rates and terms.
Before deciding on a lender or connection service, make sure to compare your car loan options to find the best one for you.
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