MyAutoLoan’s terms and requirements are industry standard and acceptable. All applicants and co-applicants must be at least 18 years of age, must have a minimum income of $21,000, and cannot have any open bankruptcies. Depending on the lender, a down payment may be required.
MyAutoLoan Auto Loans Review
MyAutoLoan provides multiple types of car loans at different levels, depending on the borrower’s credit score and the lender selected. MyAutoLoan does not service any account that originates through their service, and they do not have a telephone number for customer support anywhere on their website. They do have a sales number that is answered 24/7.
MyAutoLoan Auto Loans Highlights
LOAN AMOUNT
$5,000 - $100,000
LOAN REPAYMENT TERM
24-84
MIN CREDIT SCORE
575
APR FIXED RATE
5.64% - 8.39%
FUNDING TIME
1 days
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
None
MAX VEHICLE AGE
10 years
SOFT CREDIT PULL
Yes
LENDER TYPE
Marketplace
Pros & Cons
- Applicants receive up to four lender matches with soft credit check
- Allows co-signers
- Some lenders offer a rate discount with automatic payment setup by the borrower
- Social Security number required to submit an application
- No customer support for borrowers
- Not available in all states
Auto Loans Types
- New Car Loan
- Used Car Loan
- Lease Buyouts
- Cash-out Refinance Loans
Vehicle Types
- Car
- Motorcycle
MyAutoLoan Refinance Highlights
REFINANCE AMOUNT
$5,000
REFINANCE APR FIXED RATE
Min 3.6%
MyAutoLoan Auto Loans Terms & Requirements
How to Apply
The process to apply for a vehicle loan through MyAutoLoan is fast, with three easy steps:
- Create login and select loan type
- Complete private, secure, and confidential loan application
- Review and compare up to 4 offers and select a lender
Screen 1
personal information required
*After the final step is completed and if qualified, up to 4 lenders with rates and terms will be displayed. You can then choose a lender and provide them with more information to close the loan.
Qualification Requirements
- A credit score of at least 575 and no active bankruptcy
- Minimum age of 18 for borrower and co-borrower (if applicable)
- Minimum income of $21,000
- Vehicles must be 10 years old or newer
- Vehicles must have 125,000 miles or less
Required Information
Will vary by lender, but may include:
- Proof of address
- Last pay stub to verify income
- Driver’s license
- Banking information
Application Steps & Time Frames
- Complete application (5 minutes)
- Wait for lender offers (30 – 60 seconds on average)
- Receive funding (usually one business day)
State Availability
Available - Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
Not Available - Alaska, Hawaii.
Not Available - Alaska, Hawaii.
Customer Support
MyAutoLoan does not offer customer support. Borrowers must seek service for their account directly from the lender who made the loan. MyAutoLoan does have a 24/7 phone number for inbound callers seeking sales support and needing questions answered before applying.
In Conclusion
MyAutoLoan is a reputable company with an A+ rating from the Better Business Bureau (BBB). It provides up to 4 quotes from different lenders within 30 seconds from when someone submits an application. MyAutoLoan does not fund or service the loans; they strictly match prospective borrowers and lenders.
FAQ
MyAutoLoan does not offer title loans and believes they are unsafe for consumers. For example, a $2,500 title loan on a $15,000 car means you’ll lose ownership of your vehicle if you can’t pay off the loan before the due date.
We encourage people with bad credit (bankruptcies, repossessions, etc.) to apply. In some instances, MyAutoLoan can match them with a lender who approves applicants with poor credit, though your interest rate and payment amount will be higher than average.
A soft credit pull is done when you apply with us, meaning your credit will not be affected. The lender providing you with the loan may check your credit before issuing you a check.
Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.
9.3
LS SCORE
9.5
CREDIBILITY
9.6
SUPPORT
9.2
ACCESSIBILITY
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Mon - Sun
24/7
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