At a glance

- Availability
- Affordability
- Customer Experience
- Transparency
About MyAutoLoan
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Loan amount
$5,000 - $100,000
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Min. credit score
575
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APR from
4.49% depending on loan type
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Funds available in
As soon as the next business day
Loan amount
$5,000 - $100,000
Min. credit score
575
APR from
4.49% depending on loan type
Funds available in
As soon as the next business day
It’s easy to find competitive financing offers on myAutoLoan’s website. Still, there are cons to consider before using the platform.
Flexible qualification criteria
Fast funding
Rates published online
Not available in all states
Limited customer support
Specific loan approval varies by depending on the myAutoLoan partner lender you're matched with. The following requirements are firm across the board.
Here are some of the benefits and drawbacks of myAutoLoan auto loans.
You can use myAutoLoan to explore competitive auto loan purchase, refinance, private party and lease buyout options.
You can get rate quotes to compare against what your usual financial institution is offering or avoid the long wait at the dealership. Even better, you can shop with confidence as you’ll have the leverage needed to negotiate the best deal with a check in hand.
If your monthly car payments are too much for your budget, consider refinancing your auto loan. You may qualify for a lower interest rate or extended loan term, which can help you keep more of your hard-earned money in your pocket now or over time.
Did you find a good deal on a vehicle through a private seller? Avoid fees and haggling at the dealership with a private party auto loan. MyAutoLoan can help you find a loan fast to ensure you can take advantage of the deal before it’s gone.
If you've fallen in love with your leased car — or just want to avoid fees and penalties — you can buy it at the end of your lease. To know if you can qualify, check out the buyout price you negotiated at the start of your lease.
The application process with myAutoLoan is fast and simple. Start by submitting the online inquiry form. It takes two minutes to complete, and you’ll receive up to four offers from lenders in the myAutoLoan network if there’s a match.
If one of the loan offers works for you, submit a formal application with the lender and upload the required documents.
Once you receive the final approval from the lender, you can sign the loan documents and will receive your check or online certificate within 24 hours. It can then be used to purchase a new or used vehicle or refinance your current auto loan.
Overall score | 4 | |
---|---|---|
Availability | 4.8 | MyAutoLoan works with lenders that offer loans in 48 states and have a number of terms and amounts available. |
Affordability | 3.8 | Lack of information about rates and fees brings down an otherwise good score. |
Customer experience | 3 | Rates are good for 30 days and myAutoLoan offers a fully online experience, but it doesn’t have a phone number posted or a live chat function. |
Transparency | 4.5 | MyAutoLoan only posts some of its rates and fees, but it does allow potential borrowers to prequalify. |
Bankrate considers 18 data points when rating auto loan lenders. These include credit requirements, loan amount, APR ranges, shopping window along with rate and fee availability. In total, Bankrate reviewed 33 lenders and gave each a Bankrate rating, which consists of four categories: