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Last Updated: 04/18/2025

Magnifi Financial Auto Loans

in Auto Loans from Magnifi Financial

Last Updated: 04/18/2025

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Highlights

Amount Range

Up to $250,000

APR (Fixed APR)

6.552% - 8.244%(Verified 06/21/2024)

Credit Score Range

N/A

Loan Term (Months)

36 - 84
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Magnifi Financial Auto Loans Review

Magnifi Financial Auto Loans is offered by Magnifi Financial, a credit union founded in 1939 and based in Melrose, MN. Magnifi Financial Auto Loans are available in 50 states and Washington, DC.

Magnifi Financial Auto Loans FAQ

What APR does Magnifi Financial Auto Loans offer on its car loans?

Magnifi Financial Auto Loans offers a fixed apr car loan product that ranges from 6.552% APR up to 8.244% 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 auto loan term you can get with Magnifi Financial Auto Loans?

Magnifi Financial Auto Loans has car loans with terms ranging from 36 to 84 months. Having the option of longer terms -- terms can range up to 144 months -- allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does Magnifi Financial Auto Loans charge an origination fee?

Yes, Magnifi Financial Auto Loans may charge a loan origination fee .

Does Magnifi Financial Auto Loans charge a late fee?

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

Does Magnifi Financial Auto Loans charge prepayment fees?

Yes, Magnifi Financial Auto Loans does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my Magnifi Financial Auto Loans loan?

Yes, you can. However, Magnifi Financial Auto Loans charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for Magnifi Financial Auto Loans?

Magnifi Financial Auto Loans does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
Magnifi Financial Auto Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Magnifi Financial Auto Loans.
To qualify, applicants may need to provide the following documentation:
  • Driver's license or other government photo ID
  • Government issued photo ID
  • Proof of identity

Does Magnifi Financial perform a hard credit pull?

Yes, Magnifi Financial Auto Loans performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.

Is Magnifi Financial a legit company?

Magnifi Financial was founded in 1939, it is a well-established company that has been in business for 87 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

20 4th Ave SE
Melrose, MN 56352
(888) 330-8482
Visit Site

Hours of Operation

Sunday
Closed
Monday
8:00AM - 3:00PM
Tuesday
8:00AM - 3:00PM
Wednesday
8:00AM - 3:00PM
Thursday
8:00AM - 3:00PM
Friday
8:00AM - 3:00PM
Saturday
Closed

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