Last Updated: 04/18/2025
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Highlights
Community Rating
Strongly recommended
Amount Range
$8,000 - $100,000
APR (Fixed APR)
4.99% - 27.99%(Verified 12/09/2024)
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Credit Score Range
550 - 850
Loan Term (Months)
24 - 84
Number of Reviews
myAutoloan Auto Refinance Review
myAutoloan refinance is an auto loan refinance offering by myAutoloan, based in Irving, TX. Founded in 2003, myAutoloan offers auto refinance loans in 48 states (and Washington, DC).
Key Takeaways
- Vehicle types. myAutoloan only refinances cars and trucks.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 550 are considered for myAutoloan Auto Refinance.
- Refinancing for large loan amounts. You can refinance auto loans of up to $100,000 with myAutoloan Auto Refinance.
- Fast process. In some cases you can refinance your auto loan within 1 business day.
- Hard credit pull required. You can't check your rates or see if you prequalify for myAutoloan Auto Refinance without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the auto refinance loan early.
- No origination fee. myAutoloan Auto Refinance does not charge an origination fee for processing your loan application.
- Long loan terms. myAutoloan Auto Refinance offers loan terms of up to 84 months. Most auto refinancing loans have a maximum term of 60 months.
myAutoloan refinance Pros & Cons
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myAutoloan refinance FAQ
How much can you borrow via myAutoloan 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 refinance?
myAutoloan refinance offers a fixed APR car loan refinancing product that ranges from 4.99% APR up to 27.99% APR.
What is the maximum loan term you can get with myAutoloan refinance?
myAutoloan 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 refinance charge an origination fee on auto refinance loans?
No, myAutoloan refinance does not charge a loan origination fee for refinancing a car 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 refinance charge a late fee?
Yes, auto refinance loans via myAutoloan refinance are subject to late payment penalty fees .
Does myAutoloan refinance charge prepayment fees?
Yes, myAutoloan 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 do you need to qualify for myAutoloan Auto Refinance?
Applicants with a credit score of at least 550 and up to 850 may be eligible for myAutoloan Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher. myAutoloan Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by myAutoloan Auto Refinance. An uncommon feature is for lenders to offer their services to non-residents. myAutoloan is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan refinance with myAutoloan refinance?
Auto refinance loan applications are typically funded within 1 to 7 days of approval.
Does myAutoloan Auto Refinance report your account activity to credit bureaus?
Yes, myAutoloan Auto Refinance reports to the following credit bureaus:
- Equifax
- 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 build your credit.
Does myAutoloan perform a hard credit pull?
Yes, myAutoloan refinance performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is myAutoloan a legit company?
myAutoloan was founded in 2003, it is a well-established company that has been in business for 23 years. Based on their "strongly recommended" SuperMoney community rating, they appear to be a very reputable company.
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.
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