myAutoLoan: One Simple Application, Multiple Competing Offers

myAutoLoan is a smart choice if you want a one-stop solution for auto financing—from purchase to refinance.

myAutoLoan cuts through all the hassle. With a single easy online form, you can receive up to four different loan offers from its network of lenders. Whether you’re buying new or used, refinancing, doing a lease buyout, or buying from a private seller, myAutoLoan connects you with flexible options—all from home.

What Makes myAutoLoan Work for You

• Soft-pull prequalification keeps your credit safe
  Start with a harmless check to preview loan offers without affecting your credit score.
• Multiple offers let you shop smart
  Quickly compare APRs, terms, amounts, and lenders in a clear format to choose the best fit.
• Fast access to money
  Once you pick an offer and submit documents, your check or certificate often arrives in 24 hours.
• Options galore
  You can finance a new or used purchase ($8k+), refinance ($5k+), buy out your lease, or pay a private seller.
• Lower credit score acceptance
  Applicants with scores as low as 575–600 may still qualify—making this a helpful option for many.

What You Should Know Upfront

1. Not available in AK or HI
   myAutoLoan serves all 48 continental states; Alaska and Hawaii are excluded.
2. Minimum credit & income requirements
   You’ll need at least a 575–600 FICO score and earn around $21,600 a year—less if it’s a refinance.
3. Vehicle eligibility rules apply
   Cars must be ≤ 10 years old and have <125,000 miles—no salvaged titles allowed.
4. Soft prequalifications turn hard once you choose
   At first you get estimate offers. If you accept one, that lender does a hard credit check.
5. Watch out for partner lender fees
   While myAutoLoan doesn’t charge, some lenders may include document or admin fees—often totaling several hundred dollars.
6. Expect follow-up
   After applying, lenders may reach out via call or email—sometimes more frequently than you’d expect.

How to Apply—Your Step-by-Step Guide

1. Complete one online application
   Provide basic details like loan type, vehicle info, income, and credit. It takes only minutes.
2. Receive up to four offers
   Within moments—or sometimes hours—you’ll see competing offers showing APR, loan length, monthly payment, and any upfront fees.
3. Compare and choose
   Look at the total cost—APR, term, and fees—and pick the offer that fits your budget and plans.
4. Submit detailed application
   Choose your lender and complete their specific requirements. A hard credit pull follows.
5. Provide necessary documents
   Upload proof of income, ID, vehicle details, insurance, and possibly dealer trade or purchase info.
6. Sign the loan and get funded
   Once approved, you’ll typically receive your funds (check or electronic) within 24–48 hours.
7. Use funds and drive
   With financing secured, you’re free to buy your chosen vehicle—dealership or private seller.
8. Make payments and track
   Pay directly to your chosen lender via their website or payment portals.
9. You’re not locked in
   If conditions change or your credit improves, you can look into refinancing later.

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