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SpringboardAuto car loan alternatives
While it temporarily ended its loan program, these 3 other lenders may be able to help.
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 new and used car loans, as well as refinancing, no matter your credit score. In fact, it doesn’t have any credit requirements at all. And there are no fees, so you’ll only be on the hook for interest charges.
The downside? It’s not up front about what rates you might get. And former borrowers complained about not being able to find the car they wanted because of limited dealership supplies.
- Loan amounts: $5,000 to $75,000
- APRs: 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 designed to help borrowers with less-than-perfect credit compare multiple lenders at once. Rates range from 15% to 25% for residents of all 50 states.
There are a couple of drawbacks, 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 it doesn’t offer refinancing or used car loans for private party sales.
- Loan amount: Varies
- APR: 15% to 25%
- Terms: Varies
- Eligibility requirements: Regular source of income, US citizen or permanent resident, ages 18+
Best for refinancing: Autopay
Autopay specializes in connecting borrowers with lenders that offer everything from traditional and cash-back refinancing to new car loans to lease buyouts. How much you have left on your loan, the market value of your vehicle and your finances will all play a role in the application process. Though you can apply with a coapplicant to increase your chances of approval.
- 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. While Oportun offers installment loans between $300 and $8,000, that may not be enough to buy a car.
Compare more car loan loan providers
If you’re still interested in a car loan from SpringboardAuto, check back frequently to see if it updated its website and revamped its loan program. Until then, you can compare your other car loan options to find the best deal available to you.
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