Auto Loans
1 more
Last Updated: 07/01/2025
SuperMoney User Recommendation Score +83
Strongly recommended6 total votes
Explore a similar product
Try this top product in Auto Loans
Consumers CU Auto Loan
Strongly recommended8 reviews
Community Recommended Products
View AllSponsored
Strongly recommended8 Reviews
Learn MoreSponsored
Strongly recommended10 Reviews
Learn MoreSponsored
Mostly recommended7 Reviews
Learn MoreGet Competing Auto Loan Offers
Compare auto loan offers from multiple vetted lenders.
Discover your lowest eligible rate in minutes.
See how much you qualify for and what your monthly payment will be.
Get Personalized Rates
It's quick, easy, and won't hurt your credit score.
Highlights
Community Rating
Strongly recommended
Amount Range
$2,000 - $40,000
Disclaimer popup with additional information
APR (Fixed APR)
6.95% - 35.99%(Verified 06/21/2024)
Disclaimer popup with additional information
Credit Score Range
640 - 850
Disclaimer popup with additional information
Loan Term (Months)
36 - 60
Disclaimer popup with additional information
Number of Reviews
Prosper Auto Loan Review
Prosper Auto Loan is offered by Prosper Funding LLC, a marketplace lending platform founded in 2005 and based in San Francisco, CA. Prosper auto loan are available in 48 states and Washington, DC.
Prosper auto loan FAQ
How much can you borrow via Prosper auto loan?
Prosper auto loan loan amounts start at $2,000 and go up to $40,000.
What APR does Prosper auto loan offer on its car loans?
Prosper auto loan offers a fixed apr car loan product that ranges from 6.95% APR up to 35.99% 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 auto loan term you can get with Prosper auto loan?
Prosper auto loan has car loans with terms ranging from 36 to 60 months. Having the option of longer terms -- some lenders offer terms that 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 Prosper auto loan charge an origination fee?
Yes, Prosper auto loan may charge a loan origination fee of 2.4% to 5% of the auto loan amount . Prosper auto loan deducts the fee directly from your auto loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.
Does Prosper auto loan charge a late fee?
Yes, Prosper auto loan charges borrowers with a late payment penalty fee of up to $15
Does Prosper auto loan charge prepayment fees?
No, Prosper auto loan will not charge you a fee for paying your loan early. Whenever possible choose lenders like Prosper auto loan 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 Prosper auto loan loan?
Yes, you can. Prosper auto loan does not charge a prepayment fee, so you can save money by paying your car loan early.
What do you need to qualify for Prosper Auto Loan?
Applicants with a credit score of at least 640 and up to 850 may be eligible for Prosper Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Prosper Auto Loan 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 Prosper Auto Loan.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Proof of income
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan via Prosper auto loan?
Prosper auto loan will typically fund the car loan within 7 business days.Does Prosper Auto Loan report your account activity to credit bureaus?
Yes, Prosper Auto Loan reports to the following credit bureau:
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Prosper Funding LLC perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Prosper auto loan allows you to check your rates with a soft credit pull.
Is Prosper Funding LLC a legit company?
Prosper Funding LLC was founded in 2005, it is a well-established company that has been in business for 21 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
Prosper Auto Loan Disclosure: For example, a three-year $10,000 loan with a Prosper Rating of AA would have an interest rate of 5.31% and a 2.41% origination fee for an annual percentage rate (APR) of 6.95% APR. You would receive $9,759 and make 36 scheduled monthly payments of $301.10. A five-year $10,000 loan with a Prosper Rating of A would have an interest rate of 8.39% and a 5.00% origination fee with a 10.59% APR. You would receive $9,500 and make 60 scheduled monthly payments of $204.64. Origination fees vary between 2.41%-5%. APRs through Prosper range from 6.95% (AA) to 35.99% (HR) for first-time borrowers, with the lowest rates for the most creditworthy borrowers. Eligibility for loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All loans made by WebBank, member FDIC.
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.
Message from Prosper auto loan
Contact
Headquarters
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed
Other Services by Prosper Funding LLC
Credit Cards
1
6
7 Reviews
Marketplace Investing
2
4
6 Reviews
Personal Loans
11
5
7
23 Reviews
Home Equity Lines of Credit
Rating not yet determined (4 Reviews)
Community Recommended Products
View AllSponsored
Strongly recommended8 Reviews
Learn MoreSponsored
Strongly recommended10 Reviews
Learn MoreSponsored
Mostly recommended7 Reviews
Learn MoreSuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +83, or 4.7 on a 5-point rating scale.
+83
-1000+100
No one recommends
Everyone recommends
Prosper Auto Loan Community Reviews
Would you recommend Prosper Auto Loan to your friends?
U
Anonymous
Nov 22, 2022
May or may not recommend
Haven't tried to get an auto loan yet...depends on what the outcome is...
BA
Benjamin A.
Jan 22, 2021
May or may not recommend
Well, I wanted to get a car and was thinking of getting an auto loan. I wasn't really sure of how to go about it until a colleague mentioned Prosper Auto Loans. I was skeptical at first, but it turned out to be a very good decision. My experience with Prosper Auto Loan has been an enjoyable one. They are good for building credit and offers a range of loan ...Show More
IS
Ivy S.
Dec 22, 2020
May or may not recommend
My experience with Prosper Auto Loans has been very acceptable. Prosper is great for building credit and has a varied range of loan amounts that are convenient and available for everyone. They only charge a reasonable $15 fee for late payments, which is cheaper than what I’ve seen. Overall, I recommend Prosper and think it's perfect for anyone looking for a loan.
EO
Esther O.
Nov 16, 2020
May or may not recommend
My first experience with this loan service was nice, i got a good deal when i was desperately in need of funds to sustain my livestock with some auto equipment needed about $2500 worth, within a week, i got it to my surprise, i presented all necessary requirements, and i was allowed to spread payment in affordable rates, i had never been so relaxed with such kind of loan ...Show More
GR
Gaby R.
Nov 11, 2020
May or may not recommend
Prosper is great! I have pretty good credit but a break up left me without a car and with very little money to buy a new one. I honestly didn't think that I'd be able to buy a car unless it was a real junker. But Prosper loaned me about $10,000 for a new car. The rates are reasonable and the entire process took roughly less than a week. I ...Show More
DH
Dalton H.
Sep 30, 2020
May or may not recommend
Working with Prosper has been great! As a young adult I'm always cautious of late fees with any given loan I have. Prosper is great in that category. They only charge a flat $15 fee for late payments that kick in after 15 days... much better than some of the banks / credit cards I've had experience with! Anyways, I highly recommend Prosper, they are great. I've had a transparent, ...Show More
Showing 6 of 6 reviews