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LendingClub

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in Auto Loan Refinancing

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Overview

Where does LendingClub do business?

LendingClub is a marketplace lender based in San Francisco, CA. It was founded in 2007 and offers auto refinance loans in 30 states across the USA.

How much can you borrow via LendingClub?

Auto refinance loan amounts start at $5,000 and go up to $55,000.

What are the auto loan refinancing rates offered through LendingClub?

APRs for auto refinance loans through LendingClub range from 3.49% to 24.99%.

Does LendingClub charge an origination fee on auto refinance loans?

No, LendingClub does not charge a loan origination fee for refinancing an auto loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does LendingClub charge a late fee?

Yes, auto refinance loans via LendingClub are subject to late payment penalty fees of up to $15.

Does LendingClub charge prepayment fees?

No, there is no prepayment penalty.

What are the key eligibility criteria for LendingClub auto loan refinancing?

Applicants with a credit score of at least 510 can apply for a loan via LendingClub. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

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

  • Driver's license
  • Proof of citizenship or residence permit
  • Recent bank statements

What is the estimated funding time for an auto loan refinance with LendingClub?

Auto refinance loan applications are typically funded within 1 to 14 days of approval

Does LendingClub report loan payments to credit bureaus?

LendingClub may report payment behavior to one or more of the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion 

 

LENDINGCLUB Disclosure: All loans made by WebBank, Member FDIC. APR is the Annual Percentage Rate. Your actual rate depends upon your individual credit score and other key financing characteristics, including but not limited to the amount financed, term, a loan-to-value (LTV) ratio and other vehicle characteristics. Available APRs range from 3.49% to 24.99%. Best APRs are available to borrowers with excellent credit. Advertised rates are subject to change without notice. Vehicle restrictions: Auto refinancing through Lending Club is only available for vehicles that are 10 years old or less and have 120,000 miles or less. Refinancing is not available for Hummer, Pontiac, Saturn, Daewoo, Isuzu, Suzuki or Oldsmobile vehicles. Refinancing is not available for diesel Volkswagen vehicles, Dodge Neons, or any commercial vehicles. Existing loan restrictions: Auto refinancing is available for existing auto loans that have been open for at least 1 month, have 24 months or more remaining on the term and have $5,000 to $55,000 in outstanding balance. Fees: Title and state fees may apply. Additional vehicle and existing loan restrictions may apply, depending on credit quality.
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...

Contact

  • Headquarters
  • 71 Stevenson St
    Suite 300
    San Francisco, CA 94105 USA
  • Visit Site

Message from LendingClub

Since 2007, we've been bringing borrowers and investors together, transforming the way people access credit. Over the last 10 years, we've helped millions of people take control of their debt, grow their small businesses, and invest for the future. LendingClub is America's #1 credit marketplace, transforming banking to make it more efficient, transparent and customer friendly. Since 2007, Americans have borrowed over $31 billion dollars. Plus, LendingClub has tens of thousands of 5 star reviews and an A+ rating from the Better Business Bureau. Through LendingClub, you can qualify for multiple auto refinance offers. Lower your monthly payments, save on the total interest you pay or both! Fast and easy application process with no prepayment penalties. Plus checking your rate has no impact on your credit score.

Other Services by LendingClub

Availability

Available in 30 States
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Florida
  • Georgia
  • Idaho
  • Indiana
  • Kansas
  • Maryland
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Washington
  • Wisconsin

Feature Breakdown

No Origination Fee
No Prepayment Fee
Late Fee Amount
$15
Minimum Age
18
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Maximum Vehicle Age
10
Maximum Mileage
120,000
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Joint Loan Applications Accepted
  • Co-borrower
  • Only Individual Applications
Credit Score Range
510 -
850 300 510
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Bank Account Required?
Verification Documents Required
  • Proof of Income
  • Proof of Insurance
  • Proof of Residence
  • References
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount
$5K - $55K
$2.5K $100K
APR
3.49% - 24.99%
2% 36%

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