myAutoloan logo

Loan Amounts


$8,000 - $100,000

Loan Term


24 -84 months

APR Range


Starts at 2.49%

Min. Credit Score



Editorial Rating

myAutoloan Review: 2021 Edition

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Loan Amounts


$8,000 - $100,000

Loan Term


24 -84 months

APR Range


Starts at 2.49%

Min. Credit Score





No fees

Funding Time


Usually 1 business day

Founded in



BBB Rating



Min. Revenue


$21,000 per year



48 states (not available in Alaska or Hawaii)

myAutoloan logo

Editorial Rating

Buying a car is not always as easy as it ought to be and even for the seasoned buyer, there are many factors to consider. That’s where myAutoloan comes in, as one of the top loan connection companies on the market that can put customers in the driver’s seat.

This lending platform review will explore how myAutoloan gets customers into the cars of their dreams. We’ve done extensive research on the platform, including going through numerous myAutoloan reviews to help you figure out whether this is the right choice for you.

What Is myAutoloan?

myAutoloan is a technology-powered financial services market place that helps those looking to purchase a new or used vehicle or are looking to refinance an existing vehicle. myAutoloan is not a direct lender — instead, it connects borrowers in the United States with an extensive network of lenders through a patented analysis and evaluation process.

myAutoloan believes that auto financing should be quick and easy, that’s why they offer a broad loan range of products and services to simplify the search for financing and pricing of automobiles.

  • New and used purchase — Arranging to finance in advance could help potential buyers get the best deal on a new or used vehicle.
  • Refinance — Looking to cut your monthly payments on an existing auto loan? Refinancing could help you lower your monthly expenses.
  • Private party and lease buyout — Want to purchase the vehicle that you’re currently leasing? Buying out your current lease can make those dreams a reality.

With myAutoloan, customers have the tools to be in control of the research, financing, and buying process. The platform promises to provide up to four loan offers so customers can compare multiple lenders, saving time and money.

Who Is my Auto Loan Best For?

myAutoloan offers some of the lowest rates available on most marketplace platforms, which is excellent for customers of all levels of creditworthiness looking to borrow money online. The company is well-positioned to help customers with an average credit score who are seeking to review a variety of alternatives before making a final decision.

myAutoloan is also a good option for people that might not have the time to properly vet each and every offer they come across. The platform is designed to simplify the process plus, making it convenient, cost-free, secure, and totally confidential to request a loan for your needs.

Getting Started With myAutoloan

Getting approved through myAutoloan saves customers time and money, the application and loan process is private, secure, and confidential. There are no fees and there is no obligation to use one of the platform’s lenders or loans.

Applying is simple, easy, and quick. You will need to fill out a free application on, with the process taking about two minutes to complete.

To start your application, you will need to indicate which loan type you’re applying for and whether you’re applying alone or jointly with another person:

  • New or used auto (dealer)
  • Private party (non-dealer)
  • Refinance
  • Lease buyout

Step 1: Personal and Residential Information

  • First name
  • Last name
  • Primary phone number
  • Email address
  • Street address
  • City
  • State
  • Zipcode
  • Time at residence (yy/mm)
  • Status of residence (rent, own, lease or other)
  • Monthly housing income

Step 2: Employment Information

  • Employment status
  • Occupation
  • Employer
  • Work phone
  • Length of employment (yy/mm)
  • Gross monthly income

Step 3: Financial Information

  • Bank account type
  • Social security number
  • Issuing state
  • Driver’s license or state photo ID

Once you’ve completed the form, you will be required to confirm that you’ve read and accepted the electronic records, prequalification and state-specific disclosures among other policies and disclosures.

At this point, myAutoloan will do a soft credit pull to check your creditworthiness before they submit your application to their network of lenders who will send you multiple loan offers. You can then view loan offers you have received and choose the one most suited to your needs.

The lender you decide to go with will do a hard credit check that will likely affect your credit score — this has been the subject of several negative reviews. If you’re approved and are happy with the lender’s offer then you will be sent a check or a certificate within 24 hours.

Terms & Requirements

The terms of the loan depend on the lender, and in some cases, you may be required to include a copy of your current driver’s license, proof of auto insurance, personal reference contact information, and pay stub with current year-to-date earnings.

There are some general my Auto loan minimum requirements and qualifications to apply:

  • You and/or the co-qualifier must be at least 18 years old
  • Applicants must have a minimum gross yearly income of $21,000 (for Purchase, Private party and Lease buyout loan types, $18,000 for Refinance loans)
  • Live in one of the 48 states that myAutoloan operates in
  • Have minimum credit score of 575
  • Minimum vehicle requirements — 125,000 maximum mileage and 10 years or older

The platform doesn’t state this explicitly in its repayment terms but other myAutoloan reviews in 2020 suggest that it’s always a good idea to set up autopay with your lender to make sure you don’t miss any of your monthly payments. Some lenders offer slight discounts to customers with autopay but it’s always best to get ahead of it lest you get hit with some late payment fees.

User Reviews

myAutoloan has an A+ rating with the Better Business Bureau and has been accredited with the BBB since 2003. There have only been four myAutoloan complaints about the lending experience in the last three years and of those, two complaints were closed in the last 12 months.

We went through several of the reviews on BBB — one complaint was about how the platform’s business practices dropped a customer’s credit score by 40 points, while another complained about myAutoloan doing a credit inquiry then ultimately not moving forward with the loan application.

There are more than 680 myAutoloan reviews on Trustpilot, giving them an overall rating of 4.4 on the platform. We read through the five-star reviews and most of them had high praise for the quick and painless application and loan approval process. There were, however, negative reviews and most of them were complaints about the multiple hard credit pull inquiries during the application process.

We also looked for some myAutoloan reviews on Reddit, there weren’t many but the one we did manage to find was on a thread from 12 years ago — essentially a positive myAutoloan review and a recommendation to use the service.


We can’t forget and talk about the best features of myAutoloan.

Rates & Fees

myAutoloan has an auto loan calculator that customers can use to figure monthly payments, necessary loan amounts, and even determine the myAutoloan rates that they can expect. Customers can use this tool by entering their zip code, the loan type they want, and their credit information — then simply click calculate to see the myAutoloan interest rate in their area.

Borrowers can also use this tool to strategize how much they want to pay upfront or if they want to handle the entire expense knowing how much they can expect in monthly fees and overall estimated annual percentage rate of the loan.

For customers looking for a new car, the lowest rates available through the platform’s unique lenders start at 2.49% for a loan amount term that is less than 36 months — this is if they have an excellent personal credit record. Even at longer myAutoloan terms, the lower end of the scale for a new car loan is 3.44% for terms of over 60 months.

A used car loan tends to have slightly higher rates, owing to the higher risk that pre-owned cars carry. Rates can start as low as 2.74% and can go as high as 18.14%. Refinancing offers competitive rates, making it a better option for borrowers looking for more favorable terms. The company’s reputable partner lenders can offer rates as low as 2.24% for refinancing terms lower than 36 months and their highest rates go up to 9.99%.

Privacy & Security

myAutoloan is dedicated to protecting the privacy of customer’s personal information and they maintain physical, procedural, and electronic safeguards to protect customer’s information unauthorized access.

myAutoloan protects the transmission of your personal information by SSL (Secure Socket Layer) technology, SSL prevents the unauthorized interception and viewing of customer’s personal information.

Transmissions between myAutoloan and participating banks, finance companies, credit unions, auto dealerships, and the rest of its online lending network are encrypted using public-key cryptography algorithms with a minimum size of 128 bits. This provides the most secure system available.

Customer Support

The platform has a comprehensive FAQ section that will answer a lot of questions, comments, and opinions that customers might have. If customers have any additional questions or require loan information that is not covered in the FAQ section then they can drop myAutoloan a note using the submission form on

If social media is your cup of tea, then you can connect with myAutoloan on Facebook or Twitter.

myAutoloan is owned and operated by Horizon Digital Finance, questions regarding the loan renewal policies or the collection practices of myAutoloan should be directed in email and in writing to its office.

myAutoloan Alternatives

It doesn’t hurt to check out some of myAutoloan alternatives as well.

myAutoloan vs

CashUSA specializes in quick money loans and the rates on approved loans start at 5.99% and loan terms range from 90 days to 72 months. The biggest difference between myAutoloan and is that CashUSA only has a maximum loan amount of $10,000.

In addition, CashUSA provides custom financial education resources so they not only connect borrowers with the best lender for them but they also provide adequate educational material to help make the right decision, making them one of the best personal loan companies on the market.

myAutoloan vs

Customers can get up to $10,000 in unsecured loans for bad credit through a safe and secure application process with Interest rates start at 5.99% and all credit types are accepted, so if you’re looking for a bad credit loan, this would be the better alternative.

The loan term can be anywhere between three months and 36 months, the best advice would be to carefully consider each lender’s conditions. Compare them with your loan requirements, go through both BadCreditLoans and my Auto loan reviews, and go with the most suitable platform.

myAutoloan vs

Customers can borrow up to $35,000 in personal loans on, borrowers can submit online requests for any loan reason regardless of loan type. provides a wider range of personal loan services such as credit card refinancing.

The loan will need to be repaid between 90 days and 72 months, depending on the lender. Lenders may charge an origination fee of between 1% and 5% of the loan amount due.

Final Verdict

Thanks to its large authorized lenders, competitive rates, and variety of financial services, myAutoloan provides a good lending option for buyers looking to buy or refinance a vehicle. Its marketplace model empowers the buyer to find the best available financing solutions tailored to your financial needs.

If you do not mind the high minimum loan amount and the fact that your information will be shared with multiple lenders (so you might get a few more calls than you’d like) we, like a lot of other myAutoloan reviews we read through, recommend using the platform.

Keep in mind that you’re not obligated to accept any offer from myAutoloan, if you don’t like the loan agreement, borrowing terms or the monthly repayments are too high for budget then you don’t have to take any action or incur a nasty cancellation fee. The offer automatically expires after 30 days.


  • Competitive interest rates
  • Convenient loan requests
  • Multiple loan options


  • Restrictions on some vehicle types
  • Loan terms of up to 84 months
  • Minimum loan amount of $8,000
  • Potential impact on credit score
  • Limited customer support
myAutoloan logo

Editorial Rating


Is myAutoloan safe?

myAutoloan is safe, secure, and confidential, it uses Sectigo for SSL (Secure Socket Layer) encryption so user data is always protected.

How does my Auto Loan work?

myAutoloan uses a patented analysis and evaluation process to connect borrowers looking for auto financing with lenders that fit the borrower’s criteria.

What is a bad rate for a car loan?

It really all depends on your personal credit score. The average interest rate for someone with good credit is somewhere between 5-6% while the average rate for someone with bad credit varies from 6.5% to 12.9%. So, anything in the double-digit area is considered bad.

Is myAutoloan legit?

The myAutoloan BBB rating is A+ and they have been an accredited business since 2004. It is a licensed lender and has been providing loan solutions in 48 US states for over 10 years. The myAutoloan reviews we found further suggest that the service is reliable.