myAutoloan Auto Refinance Review

myAutoloan Auto Refinance is an auto loan refinance offering by myAutoloan, a marketplace lender based in Irving, TX. Founded in 2003, myAutoloan offers auto refinance loans in 48 states (and Washington, DC).

How much can you borrow via myAutoloan Auto Refinance?

Auto refinance loan amounts start at $8,000 and go up to $100,000.

What are the auto loan refinancing rates offered through myAutoloan Auto Refinance?

myAutoloan Auto Refinance offers a fixed APR auto loan refinancing product that ranges from 2.49% APR up to 29.4% APR.

What is the maximum loan term you can get with myAutoloan Auto Refinance?

myAutoloan Auto Refinance 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 myAutoloan Auto Refinance charge an origination fee on auto refinance loans?

No, myAutoloan Auto Refinance 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 myAutoloan Auto Refinance charge a late fee?

Yes, auto refinance loans via myAutoloan Auto Refinance are subject to late payment penalty fees.

Does myAutoloan Auto Refinance charge prepayment fees?

Yes, myAutoloan Auto Refinance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment feees can reduce or even cancel the interest savings of repaying a loan early.

What are the key eligibility criteria for myAutoloan Auto Refinance auto loan refinancing?

Applicants with a credit score of at least 500 can apply for a loan via myAutoloan Auto Refinance. 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 pay stubs

What is the maximum mileage to refinance with myAutoloan?

myAutoloan is an option for high-mileage vehicles. They will consider auto loan applications for vehicles with up to 125000 miles on the odometer.

What is the maximum car age to refinance with myAutoloan?

Only vehicles that are 10 years old or less can qualify for an auto refinance.

What is the estimated funding time for an auto loan refinance with myAutoloan Auto Refinance?

Auto refinance loan applications are typically approved (or denied) within 24 hours and funded within 1 to 7 days of approval.