SpringboardAuto Car Loan Review

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SpringboardAuto Car Loan is offered by SpringboardAuto, a marketplace lending platform founded in 2015 and based in Irvine, CA. SpringboardAuto Car Loan is available in 29 states across the USA.

How much can you borrow via SpringboardAuto Car Loan?

SpringboardAuto Car Loan auto loan amounts start at $7,500 and go up to $40,000.

What APR does SpringboardAuto Car Loan offer on its auto loans?

SpringboardAuto Car Loan offers an auto loan product that ranges from 5% APR up to 36% 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 SpringboardAuto Car Loan?

SpringboardAuto Car Loan has auto loans with terms ranging from 24 to 72 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 SpringboardAuto Car Loan charge an origination fee?

Yes, SpringboardAuto Car Loan may charge a loan origination fee of $0 to $595

Does SpringboardAuto Car Loan charge a late fee?

Yes, SpringboardAuto Car Loan charges borrowers with a late payment penatly fee of up to $100

Does SpringboardAuto Car Loan charge prepayment fees?

No, SpringboardAuto Car Loan will not charge you a fee for paying your loan early. Whenever possible choose lenders like SpringboardAuto Car 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 SpringboardAuto Car Loan loan?

Yes, you can. SpringboardAuto Car Loan does not charge a prepayment fee, so you can save money by paying your auto loan early.

What do you need to qualify for SpringboardAuto Car Loan?

Applicants with a credit score of at least 500 and up to 850 may be eligible for SpringboardAuto Car Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loans with SpringboardAuto Car Loan, applicants need a minimum annual income of $24,000 or higher. SpringboardAuto Car Loan only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

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 SpringboardAuto Car Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by SpringboardAuto Car Loan. Permanent resident / green card holders are also eligible to apply.

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

• 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 SpringboardAuto Car Loan?

SpringboardAuto Car Loan will typically approve (or deny) an auto loan application within 1 hour and fund the loan within 7 business days of approval.

Does SpringboardAuto Car Loan report your account activity to credit bureaus?

Yes, SpringboardAuto Car Loan 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 may help improve your credit.