Advertiser Disclosure

MyAutoloan connects borrowers with a network of lenders to find new and used car purchase loans as well as loan refinancing opportunities. If you have a FICO score of 575 or above, you can get up to four loan offers in just a few minutes on But is myAutoloan the best auto financing service out there, or should you look for an alternative?

Our myAutoloan review takes a closer look at the provider’s loan rates, loan terms, the application process, and customer reviews. We’ll help you decide if you should give the website a shot or if you may find the best auto loans elsewhere.

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In This Review:

    For more than 15 years, has helped match car buyers with low-interest loan offers. Headquartered in Irving, Texas, the company offers a wide range of products and services, including loans for new and used vehicles as well as lease buyouts, refinance loans, and private-party loans.

    MyAutoloan is owned by Horizon Digital Finance, L.L.C., which also owns and Cons
    Offers loans for drivers with low credit scoresNot available in Alaska and Hawaii
    Offers loans for private purchasesNot available to drivers with credit scores below 575
    Good customer service reputation and an A+ rating from the Better Business Bureau (BBB)

    MyAutoloan Loan Details

    Whether you get a new car loan, a refinancing loan, or a private party loan, all myAutoloan products work in the same way. If approved, you get a check for the amount of the loan and then you can apply it to the vehicle that you want to purchase or refinance.

    Some lenders offer car-buying services or require you to visit a specific dealership. MyAutoloan lets you go to any dealer you want because it gives you the money first.

    Because connects customers with loan offers from a number of different lenders, some loan details may vary. There is a minimum loan amount of $5,000 for refinancing and an $8,000 loan minimum for purchase loans and lease buyout loans.

    Other loan details are outlined in the chart below. Loan Details
    Loan Amount Range$5,000 to $8,000 minimum
    Loan Term Length24 to 84 months
    Annual Percentage Rate (APR)3.49%* (with AutoPay and excellent credit)
    Late Payment FeeVaries by lender
    Prepayment PenaltyVaries by lender

    Interest rates may vary depending on the type of loan as well as the loan period. The chart above shows the lowest interest range offered, but your rates may increase depending on your credit score. If you have a particularly strong credit score, you may want to look into another provider that offers rates even lower than two percent.

    To get a specific idea of what your monthly payments may be, has an interest rate estimator and a payment calculator tool on its website.

    MyAutoloan Financing Products

    You can find the following loan products at

    • New car loan: Qualified applicants can secure an offer and get funding within 24 hours to purchase a new car from any dealer.
    • Used car loan: This is a similar process to a new car loan. The car needs to have less than 100,000 miles and be 8 years old or newer.
    • Auto refinancing loan: Get up to four offers, choose the best, and then get funding to refinance an existing car loan.
    • Private party loan: You can get a loan to use on a private car purchase and come to the bargaining table with a check in hand.
    • Lease buyout: Get a loan to pay off what’s owed on your current lease so you can own the car.
    • Motorcycle loan: You can get loan offers for sport bikes, touring bikes, cruisers, and more through myAutoloan.

    Be aware that these loans have different APR ranges. For example, new auto loans start at 2.14 percent APR while private party loans start at 2.49 percent APR.

    MyAutoloan Calculators

    MyAutoloan also offers a few different loan calculators you can use to estimate your interest rate, monthly payments, and more.

    • Interest rate estimator: Enter your loan amount, credit score range, and zip code to calculate an average interest rate.
    • Loan amount calculator: This shows your total amount paid based on your payment amount, APR, and loan length.
    • Payment amount calculator: This shows payment amounts for different loan lengths based on the principle amount and APR. Loan Application Process

    To apply for a loan through, you need to complete a prequalification form, choose a loan offer, and finalize the loan. The prequalification form asks for personal information, employment information, and information on the loan that you desire.

    Be ready with the following information:

    • Basic personal information (name, address, phone number)
    • Resident status and monthly housing payment
    • Employment status and income
    • Vehicle information (year, make, model, mileage, lien holder)

    Be prepared to receive at least one hard credit inquiry. MyAutoloan’s application uses a soft credit pull, but the partner lenders may run a hard check on your credit. Multiple hard checks within 30 days are usually counted as a single inquiry by the credit bureaus.

    In order to finalize a loan, you may also need to upload scans of the following documents:

    • Current driver’s license
    • Proof of auto insurance
    • Contact information for a personal reference
    • Paystub with current year-to-date earnings

    After filling out an online application form, will match you with multiple loan offers. The final paperwork can be completed online, and borrowers can receive an online certificate or check within 24 hours. There is no application fee.


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    Will You Qualify For myAutoloan?

    Drivers hoping to be approved for a loan from should be at least 18 years old and have no open bankruptcies. Other minimum requirements are described in the chart below: Borrower Eligibility Requirements
    Minimum Credit Score575
    Minimum Income for Loan Refinancing$18,000 gross yearly income
    Minimum Income for Purchase Loans$21,600 gross yearly income
    Minimum Loan Balance for Refinancing$5,000

    How Credit Score Affects APR

    It’s always a good idea to try to bump your credit score up a bit before getting a loan. Only borrowers with the best credit scores qualify for the lowest advertised rates. MyAutoloan can work with people who have scores of 575 or greater. While it doesn’t specialize in bad credit car loans, it does offer options for a wide variety of borrowers.

    Below, you can see average APRs by credit score. This data comes from Experian’s State of the Automotive Finance Market Report from the second quarter of 2021. You can use this as a rough guide of the rates you’d find from myAutoloan.

    Credit ScoreAverage New Car APRAverage Used Car APR
    781 to 8502.34%3.66 %
    661 to 7803.48%5.49%
    601 to 6606.61%10.49%
    501 to 60011.03%17.11%
    300 to 50014.59%20.58%

    MyAutoloan Reviews And Reputation

    The BBB page for myAutoloan has very few customer reviews and complaints, but the business is accredited by the BBB and holds an A+ rating.

    Customers have given more feedback on Trustpilot, where the company has a 4.3 out 5.0 rating based on over 750 reviews. As with most auto loan providers, there is a mix of both positive and negative customer feedback.

    Negative myAutoloan Reviews

    Customers have complained about running hard credit checks, which can lower a person’s credit score. One angry customer wrote:

    “Not happy with the fact that about three different loan companies pulled my credit after I accepted a different offer. Never will I recommend this website to anyone. My credit took a near 17-point dip.”

    – Allison M. via Trustpilot

    Hard credit checks are common when applying for loans, though using a loan aggregation site like can mean more of these types of checks will be run simultaneously.

    Positive myAutoloan Reviews

    Positive reviews mention an easy and fast loans process. Many customers reported receiving what they found to be good loan offers. One pleased customer wrote:

    “I found [] very helpful in finding my new finance company to refinance my vehicle. I am very satisfied with the outcome. My new company is saving me more than $200 a month on vehicle payments.”

    – Carol via Trustpilot

    The benefit of a loan aggregation site like is that customers can be matched with a high number of loan offers with minimal paperwork.

    Our Take On myAutoloan: 4.0 Stars

    MyAutoloan offers a standard loan matching service and above-average customer service. It has a strong reputation with an A+ rating from the BBB. Overall, we give 4.0 stars.

    Motor1 Rating4
    Loan Details3.5
    Loan Availability3.5
    Application Process4
    Customer Service4

    For those with especially low credit, it is probably not worth filling out an application, as the company’s hard credit checks could decrease your score further and you may not even be eligible for a loan anyway.

    Be sure to read our section on minimum qualifications before applying. If you have an especially high credit score, we think there are other companies that can offer superior rates. Of course, the only way to know for sure is to complete an application and see which offers you receive.

    To compare auto loan offers, visit


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