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myAutoloan Auto Refinance Review


ConsumersAdvocate.org Rating: 4 / 5 (Very good)
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myAutoloan is an auto loan matching service that offers car buyers a quick and easy online application. It partners with some of the nation’s leading auto lenders to provide auto shoppers multiple options when looking for a loan. myAutoloan focuses on lifestyle financing products, empowering customers to make better financial choices.
 
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How is myAutoloans rated?

Breakdown

4.0/5
Loan Details
4.0/5
Customer Experience

Overall Rating: 4 / 5 (Very good)

myAutoloan is a online loan marketplace that offers some of the fastest funding and approval times in the industry. The company takes a more didactic approach to auto financing by offering additional tools and resources to help consumers make informed financial decisions and improve their credit standing. myAutoloan also provides refinance loans and lease buyout options with lower interest rates and more favorable terms than average from their select network of banks, credit unions, and finance companies. If you are interested in obtaining a purchase or refinance loan but have no time to waste, myAutoloan could be an option worth considering.

Auto Loans & Refinancing

Loan Details - 4 / 5

myAutoloan offers new and used car loans as well as refinance, lease buyout, and private party loans with APRs as low as 2.19% for new vehicle loans and 1.99% for refinance loans. Their minimum loan amount is $8,000 and loan terms can be as long as 84 months, which is pretty much standard for the industry. The company also provides an interest rate estimator as well as loan and payment amount calculators to help customers make informed financial decisions and avoid going upside down on their loans.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Loan Amount
$8,000
Min. APR
2.19%
Term Length
24 months
Max Term Length
84 months

Loan Refinancing

Min. Loan Amount
$8,000
Min. APR
1.99%
Min. Term Length
24 months
Max Term Length
84 months

Loan Qualifications

Qualification - 5 / 5

In order to qualify for a loan with myAutoloans, applicants may be required to include a copy of their current driver's license, proof of auto insurance, contact information for a personal reference, and a pay stub with current year-to-date earnings. Residency, income, and employment requirements will vary by lender, yet most will only work with consumers who are 18 years or older, have a minimum income of $1,800 per month, live in one of the 48 states serviced by myAutoloan, and own or plan to purchase a vehicle that's under ten years old and has less than 125,000.

Borrower Qualifications

Minimum Age
Must be 18 or older
Minimum Income
No Minimum
Minimum Credit Score
No Minimum
US Citizenship Requirement
Yes
Verification / Documents Required
Social Security Number

Vehicle Qualifications

Mileage Limit
100,000 to 125,000 Miles
Car Age
10 Years or Newer
Car Makes
Any Vehicle Make

Application & Service

Customer Experience - 4 / 5

myAutoloan has a fast, free, and secure application process that takes just a few minutes to complete and could help customers save thousands of dollars over the life of their loan. After filling out a simple online form, users are matched with up to four lenders in just minutes. The company states customers can receive an online check or certificate in as little as 24 hours after accepting an offer, which they can use to purchase the car they want or refinance their current loan. myAutoloan also offers useful resources to help consumers improve their credit and learn the basics of car financing. However, customers should be wary of "free" recommended services and always read the terms and conditions before signing up for anything that requires credit card details or personally identifiable information.
Approval Time
Same Day
Funding Time
1-7 Days
Fees
No Fees Specified
Benefits/ Features
Online Rates / Application
Pre-approval Soft-credit Inquiry
Customizable Payment Deadlines
Deferred Payments
Joint Loans Available
Auto Loan Calculator

myAutoloans Reputation & Reviews

Reputation - 4.7 / 5

myAutoloan is accredited by the Better Business Bureau, with which they hold a score of 3.68 out of 5 stars based on two customer reviews and an A+ rating. myAutoloan has also received a high TrustScore on TrustPilot.com, where previous customers state the company delivers a simple and straightforward application process paired with excellent 24/7 customer support. It must be added that this company takes great pains to reply to online feedback and provide timely resolutions that benefit the customer, even going as far as refunding clients for additional fees charged by partner lenders.
Trustpilot Rating
8.5 out of 5
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
2
Date Collected
2017-12-14

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
https://www.myautoloan.com/
Company Phone
(214) 540-3350
Headquarters Address
5005 W. Royal Lane, Suite 209, Irving, TX, 75063
Year Founded
2003

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Customer Comments & Reviews

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C
Causer0219
2/21/2019
Very good credit and money in the bank but bad results. Jumped through all their hoops and got 1 offer worse than a major bank I applied online for also. But as a bonus they did add me to 4 different SPAM lists. Not worth your time

Our Partner

Quick and easy online application

  • Get up to 4 offers in minutes
  • Auto loan refinancing
  • Dealership finder
  • Used cars up to 8 years old
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