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  SpringboardAuto Car Loan

Out of Business

SpringboardAuto Car Loan

in Auto Loans from SpringboardAuto

Out of Business

SpringboardAuto Car Loan

in Auto Loans from SpringboardAuto

SuperMoney Net Recommendation Score -14

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -14, equating to 2.7 on a 5 point rating scale.

-14

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly not recommended

3 users recommend
0 users are unsure
4 users don't recommend
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Highlights
Community Rating Mostly not recommended
Credit Score Range 500 - 850
Loan Amount $7,500 - $40,000
APR  (Fixed APR) 5% - 36%
Loan Term (Months) 24 - 72 months
Number of Reviews 7

SpringboardAuto Car Loan Review

SpringboardAuto Car Loan is no longer available to new customers on SuperMoney.

Click here to compare Auto Loans and quickly find the best options for your needs.

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.

SpringboardAuto Car loan FAQ

How much can you borrow via SpringboardAuto Car loan?

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

What APR does SpringboardAuto Car loan offer on its car loans?

SpringboardAuto Car loan offers a fixed apr car 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 auto loan term you can get with SpringboardAuto Car loan?

SpringboardAuto Car loan has car loans with terms ranging from 24 to 72 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 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 car 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 a car loan via SpringboardAuto Car loan?

SpringboardAuto Car loan will typically approve (or deny) a car loan application within 1 hour and fund the car 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.

SpringboardAuto Car Loan Disclosure: Offers made by SpringboardAuto.com, Inc. are subject to terms and conditions. Married individuals may apply without their spouse. Alimony, child support or separate maintenance income need not be revealed if you do not choose to have it considered as a basis for repaying the obligation.
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 SpringboardAuto Car Loan

SpringboardAuto is a direct-to-consumer auto loan platform transforming car buying and financing into a modern online and mobile friendly experience. Whether it’s buying from a private party or dealer, our platform utilizes robust technology and data to deliver a premium lending experience.

Message From Our Editor

What we love about SpringboardAuto.com

SpringboardAuto.com is a unique auto lender that looks to use big data and analytics tools to offer better loans to customers.

The company claims that it can use its proprietary method to extend loans to people who may have trouble qualifying for traditional auto loans, making SpringboardAuto.com a good choice for people with less than perfect credit.

SpringboardAuto.com offers flexible loans. The minimums are low and maximums are high and you can choose from a variety of loan terms to customize your monthly payment.

You can get a loan from SpringboardAuto.com for dealer or private purchases or use the website to refinancing an existing loan.

What could SpringboardAuto.com do better?

SpringboardAuto.com tends to offer higher interest rates than many of its competitors, especially if you have strong credit and don’t have trouble getting a loan from a bank or other lender. That makes it important to shop around to find the best deal.

The company also may take longer to approve and fund a loan than other lenders. If you use dealer financing, you can often walk onto a dealership’s lot and drive out with a car and an auto loan. You need to plan ahead if you plan to work with SpringboardAuto.com.

SpringboardAuto.com’s backstory

SpringboardAuto.com was founded by Jim Landy to disrupt the auto lending business. It does this through big data and analytics that help the company get a clearer picture of borrowers’ risk. This lets the company offer loans to people who may otherwise have trouble qualifying.

The Verdict

If you have poor credit, SpringboardAuto.com is a good option because you have a better chance of getting approved for a loan. If you have strong credit, you’ll likely get a better deal from a more traditional lender.

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About SpringboardAuto Car Loan

Availability

  Available in 29 states
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Maryland
  • Massachusetts
  • Missouri
  • Nebraska
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Oklahoma
  • Oregon
  • South Carolina
  • Tennessee
  • Utah
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin

Feature Breakdown

Application Fee $0
No Prepayment Fee
Late Fee Amount $100
Origination Fee ($) $0 - $595
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
Maximum Mileage 138,000
Maximum Vehicle Age 10
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $24,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Credit Score Range 500 - 850
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • TransUnion
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
Pre-Approved Soft Credit Inquiry
Loan Amount $7,500 - $40,000
APR (Fixed APR) 5% - 36%
Loan Term 24 - 72 months

SpringboardAuto Car Loan Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -14, equating to 2.7 on a 5 point rating scale.

-14

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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