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LendingPoint Auto Loans

in Auto Loans from LendingPoint LLC

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LendingPoint Auto Loans

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Highlights
Highlights
Loan Amount $2,000 - $25,000
APR  (Fixed APR) 15.49% - 34.99%
Credit Score Range 590 - 720
Loan Term 24 - 48 months

LendingPoint Auto Loans Review

LendingPoint Auto Loans is offered by LendingPoint LLC, a direct lender founded in 2014 and based in Kennesaw, GA. LendingPoint Auto Loans is available in 40 states (and Washington, DC).

How much can you borrow via LendingPoint Auto Loans?

LendingPoint Auto Loans auto loan amounts start at $2,000 and go up to $25,000.

What APR does LendingPoint Auto Loans offer on its auto loans?

LendingPoint Auto Loans offers a fixed APR auto loan product that ranges from 15.49% APR up to 34.99% APR.

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 inaccurate information in your credit history with these credit monitoring tools.

What is the maximum loan term you can get with LendingPoint Auto Loans?

LendingPoint Auto Loans has auto loans with terms ranging from 24 to 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 loan, the more interest you will pay.

Does LendingPoint Auto Loans charge an origination fee?

Yes, LendingPoint Auto Loans may charge a loan origination fee of 0% to 6% of the loan amount. LendingPoint Auto Loans 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.

Does LendingPoint Auto Loans charge a late fee?

Yes, LendingPoint Auto Loans charges borrowers with a late payment penatly fee

Does LendingPoint Auto Loans charge prepayment fees?

No, LendingPoint Auto Loans will not charge you a fee for paying your loan early. Whenever possible choose lenders like LendingPoint Auto Loans that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my LendingPoint Auto Loans loan?

Yes, you can. LendingPoint Auto Loans does not charge a prepayment fee, so you can save money by paying your auto loan early.

What do you need to qualify for LendingPoint Auto Loans?

Applicants with a credit score of at least 590 and up to 720 are eligible for LendingPoint Auto Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loans with LendingPoint Auto Loans, applicants need a minimum annual income of $20,000 or higher. LendingPoint Auto Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via LendingPoint Auto Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by LendingPoint Auto Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Applicants must have an active and valid checking account
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit

What is the estimated funding time for an auto loan via LendingPoint Auto Loans?

LendingPoint Auto Loans will typically approve (or deny) an auto loan application within 24 hours and fund the loan within 7 business days of approval.

Does LendingPoint Auto Loans report your account activity to credit bureaus?

LendingPoint Auto Loans reports your account activity to the following credit reporting agencies:

  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

LENDINGPOINT AUTO LOANS Disclosure: Loan approval is not guaranteed. Actual loans offers and loan amounts, terms and annual percentage rates (“APR”) may vary based upon LendingPoint’s proprietary scoring and underwriting system’s review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 5% may apply depending upon your state of residence. Upon LendingPoint’s final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. LendingPoint makes loan offers from $3,500 to $20,000, at rates ranging from a low of 15.49% APR to a high of 34.99% APR, with terms from 24 to 48 months.
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

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Other Services by LendingPoint LLC

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 40 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington

Feature Breakdown

No Prepayment Fee  
Origination Fee (%) 0% - 6%
Checking Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Annual Income $20,000
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Verification Documents Required
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Funding Time Range 1 - 7 days
Approval Speed (Hours) 24
Credit Bureau Reporting
  • Experian
  • TransUnion
Customizable Payment Dates  
Payment Options
  • Automatic Payments
  • Check by mail
Pre-Approved Soft Credit Inquiry  
Loan Amount $2K - $25K
APR (Fixed APR) 15.49% - 34.99%
Loan Term 24 - 48 months

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