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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?
LendingClub offers a fixed APR auto refinance loan product that ranges from 3.49% up to 24.99%.
What is the maximum loan term you can get with LendingClub?
LendingClub offers auto refinancing with terms ranging from 24 to 84 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 auto refinancing loan, the more interest you will pay.
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:
71 Stevenson St
San Francisco, CA 94105 USA
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Message from LendingClub
Other Services by LendingClub
- New Hampshire
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina
- South Dakota
|No Origination Fee|
|No Prepayment Fee|
|Late Fee Amount||$15|
|Credit Score Range||
510 - 850
850 300 510
|Immigration Status Considered||
|Bank Account Required?|
|Employment Statuses Considered||
|Maximum Vehicle Age||10|
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$5K - $55K|
|Loan Term (Months)||24 - 84|
|APR (Fixed APR)||3.49% - 24.99%|