OneMain Financial Auto Refinance

OneMain Financial Auto Refinance Review

OneMain Financial auto refinance is an auto loan refinance offering by OneMain Financial, based in Evansville, IN. Founded in 1912, OneMain Financial offers auto refinance loans in 44 states across the USA.

Key Takeaways

• APRs starting at 16%. The starting rates for OneMain Financial Auto Refinance are on the higher end of the spectrum.
• Vehicle types. OneMain Financial 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 560 are considered for OneMain Financial Auto Refinance.
• Refinancing for small loan amounts. Supports refinancing as little as $1,500. If you have a small amount remaining on your loan this is one of your best options.
• Fast funding process. In some cases, you may be able to refinance the loan within one business day.
• Origination fees of up to 10%. This is on the high end for lenders on SuperMoney's database. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.

OneMain Financial auto refinance Pros & Cons

OneMain Financial auto refinance FAQ

How much can you borrow via OneMain Financial auto refinance?

Auto refinance loan amounts start at $1,500 and go up to $20,000.

What are the auto loan refinancing rates offered through OneMain Financial auto refinance?

OneMain Financial auto refinance offers a fixed APR car loan refinancing product that ranges from 16% APR up to 36% APR.

What is the maximum loan term you can get with OneMain Financial auto refinance?

OneMain Financial auto refinance offers auto refinancing with terms ranging from 24 to 60 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 OneMain Financial auto refinance charge an origination fee on auto refinance loans?

Yes, OneMain Financial auto refinance charges a loan origination fee of 1% to 10% of the loan amount of $25 to $400 OneMain Financial auto refinance deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow.

Does OneMain Financial auto refinance charge a late fee?

Yes, auto refinance loans via OneMain Financial auto refinance are subject to late payment penalty fees of up to $5.

Does OneMain Financial auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for OneMain Financial Auto Refinance?

OneMain Financial Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement. OneMain Financial Auto Refinance only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via OneMain Financial Auto Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by OneMain Financial Auto Refinance.

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

• Recent pay stubs
• Proof of income
• Driver's license
• Government issued photo ID
• Proof of identity
• Proof of citizenship or residence permit

What is the estimated funding time for a car loan refinance with OneMain Financial auto refinance?

Auto refinance loan applications are typically approved (or denied) within 1 hour and funded within 0 to 2 days of approval.