SpringboardAuto car loan alternatives | finder.com

SpringboardAuto car loan alternatives

While it temporarily ended its loan program, these 3 other lenders may be able to help.

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Why doesn’t SpringboardAuto offer car loans anymore?

SpringboardAuto temporarily ended its car loan program in January 2019 after it was acquired by Oportun, a community development financial institution. Previously, the lender offered car loans between $7,500 and $45,000 with relatively flexible requirements for used cars.

While the provider has plans to offer car loans again in the future, it’s still not accepting new applications as of September 2019.

3 alternatives to SpringboardAuto car loans

These three lenders are some of the best alternatives to SpringboardAuto — they all accept borrowers with less-than-perfect credit and offer a variety of car loans to cover just about any situation.

Best for borrowing with bad credit: RoadLoans

RoadLoans, a subsidiary of Santander Consumer USA, offers a variety of car loans no matter your credit score. In fact, it doesn’t have any credit requirements at all — but the lower your score, the higher your interest rate will be. And there are no fees, so you’ll only be paying interest on your loan.

The bad side? Rates aren’t transparent, and some borrowers have complained about not being able to find the car they wanted because of limited dealership supply. So while you can borrow a new or used car loan, or refinance your previous loan, you may be in the dark until you apply for preapproval and receive a quote.

  • Loan amount: $5,000 to $75,000
  • APR: Not stated
  • Terms: Not stated
  • Eligibility requirements: Be 18+, monthly income of $1,800+, reside in a state where RoadLoans operates and do not have open car loan with RoadLoans, parent company Santander Consumer USA or Chrysler Capital

Best for comparing multiple lenders: MaxCarLoan

MaxCarLoan is a connection service that helps you compare a variety of lenders at once. Its lenders offer rates between 15% to 25%, so you won’t get stuck paying an arm and a leg for a subprime loan. And since it operates in all 50 states, you may be connected with a lender no matter where you live — provided you meet the lender’s eligibility requirements.

There are a couple downsides, however. If you’re connected with a dealership, you may only be able to buy a car it has on the lot at the time you apply. And if you were looking to refinance your car loan or buy from a private party, you’re out of luck: MaxCarLoan only works with lenders that offer loans for new and used cars.

  • Loan amount: Varies
  • APR: 15% to 25%
  • Terms: Varies
  • Eligibility requirements: Must be US citizen or permanent resident, be at least 18 years old and have a regular source of income.

Best for refinancing: Autopay

Autopay specializes in connecting borrowers with lenders that offer refinancing. You may be eligible for traditional refinancing, cash back refinancing or a loan to pay off your current lease. And if you’re in the market for a new car, Autopay has lenders for that, too. You’ll also be able to apply with a coapplicant to increase your chances of approval, and you can refer a friend to receive $100.

But while Autopay has lenders that offer rates as low as 1.99%, you won’t qualify if you have bad credit. It also handles document fees for you — at a cost. Your car will also have to meet a few requirements, though these vary by lender. The amount you have left on your loan, the market value of your vehicle and your finances will all play a role in the approval process.

  • Loan amount: $2,500 to $100,000
  • APR: 1.99% to 10%
  • Terms: Varies
  • Eligibility requirements: No minimum income required

Does SpringboardAuto offer similar loans?

SpringboardAuto doesn’t currently offer other loans. However, Oportun offers installment loans between $300 to $8,000 — but that may not be enough to buy a car. If you need more, it may be best to consider one of the lenders above or the table below for a list of similar options that can cover the costs of a car.

Compare more car loan loan providers

Updated September 21st, 2019
Name Product Filter Values Minimum credit score Loan term Requirements
300
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
600
Varies by lender
Fair to excellent credit, an income source, US citizen or permanent resident, 18+ years old
Find an offer and get rates from competing lenders without affecting your credit score.
300
Varies by lender
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Fair or better credit
From 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
510
Varies
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
Connect with a network of over 150 lenders to refinance your car loan.
Good to excellent credit
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.

Compare up to 4 providers

Bottom line

If you’re still interested in SpringboardAuto, check back frequently to see if it updated its website and revamped its loan program. Until then, you can compare more car loan options to find the best lender for you — even if you don’t have the best credit.

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