LendingPoint is a direct lender based in Kennesaw, GA. It was founded in 2014 and offers auto loans in 34 states (and Washington, DC).
LendingPoint offers auto loans with APRs starting at 15.49% and up to 34.99%. Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccuate information in your credit history with these credit monitoring tools.
LendingPoint has auto loans with a maximum term of 48 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.
Yes, LendingPoint may charge a loan origination fee of 0% to 6% of the loan amount. LendingPoint deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Yes, LendingPoint charges borrowers with a late payment penatly fee
No, LendingPoint will not charge you a fee for paying your loan early. Whenever possible choose lenders like LendingPoint that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.
Applicants with a credit score of at least 590 can apply for a loan via LendingPoint. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
To qualify, applicants may need to provide the following documentation:
LendingPoint will typically approve (or deny) an auto loan application within 24 hours and fund the loan within 7 business days of approval.
LendingPoint reports credit data to the following credit reporting agencies:
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