SpringboardAuto.com is a direct lender based in Irvine, California. It was founded in 2015 by industry veterans Jim Landy and Stuart Holmes. SpringboardAuto.com is a direct-to-customer auto loan platform that helps borrowers with less than perfect credit get a car loan at reasonable rates.
As a financial technology company, SpringboardAuto.com uses data and analytics to simplify auto loan application and underwriting processes by reducing unnecessary document requests and redundant information.
How Do SpringboardAuto.com Loans Work?
SpringboardAuto.com allows borrowers to finance a vehicle purchase or refinance an auto loan online. The platform offers loans for new or pre-owned vehicles and finances private party or dealership purchases.
Most applicants get a response within seconds of applying; the rest may take up to one business day to get an answer. If approved, your loan may be closed in as little as 48 hours after providing all required documentation.
You can make your scheduled monthly payments by credit card, check, or through money transfer services, such as Speedpay, Billpay, or Western Union.
What Are SpringboardAuto.com's Rates?
Rates for a loan at SpringboardAuto.com range from 5% APR to 36% APR.
In some states, an origination fee may be included in the loan. Origination fees vary from $0 to $695 for new/used auto loans and $0 to $295 for refinance, which may be a flat rate or a percentage of the loan amount. There are no prepayment penalties, and after the first scheduled payment is made customers can select their own payment dates.
How Much Money Can I Borrow from SpringboardAuto.com?
Loan amounts range from $7,500 to $45,000 depending on your state, income, credit, and vehicle value. The maximum term for an auto loan is 72 months.
How Are SpringboardAuto.com Loans Better than Other Auto Loans?
SpringboardAuto.com is an excellent choice for borrowers without perfect credit looking for an auto loan. These are the main benefits:
- You can check your rate without impacting your credit score. SpringboardAuto.com does not perform a hard pull on your credit to generate an offer.
-You can configure your approved loan terms.
- Fast decisions (typically within seconds) and fast funding timeline. Loan proceeds are usually issued within just a few business days.
- SpringboardAuto.com reports your loan activity to Experian and TransUnion, two of the three national credit bureaus. Regular on-time payments can help improve your credit score.
- Borrowers with poor credit scores (as low as 500) are considered.
- Loan amounts range from $7,500 to $45,000.
- Accepts joint applicants.