What are the minimum requirements for an auto loan?
- You and/or co-qualifier must be at least 18 years of age.
- Minimum income of $1,800 per month or $21,600 per year.
- Time at residence, last 2 locations greater than 6 months.
- Time at job, last 2 employers greater than 6 months.
- No open bankruptcies.
- Valid social security number.
How long does the application process take?
The application process is fast, easy and secure and may take you about 3-5 minutes to complete. Once you have applied, loan offers are presented within minutes, or can take up to 24 hours. We post the offer to the web site in your "My Account" page. We will also notify you via email that approvals have been received.
Your loan request is important to us so please be patient. The approval process is usually completed within several minutes to a few hours. Emails are sent to notify you of an offer..
How do you find me multiple loan quotes?
Once you've submitted your application, we will identify lenders that match your profile, and sequentially send your information to the best match lenders. If approved, we'll post the decisions on the myAutoloan.com web site under your "My Account" page within minutes and up to 24* hours. We will also notify you via email that approvals have been received. We have REAL LENDERS, who provide REAL LOANS, in REAL TIME.
Note: * Holidays and weekends sometimes take longer due to review processes.
Who is myAutoloan.com?
myAutoloan.com is a privately held, direct-to-consumer, internet-based auto financing marketplace that helps consumers take control of the auto research, finance, buy and drive process. Offering a wide range of products and services to simplify the search for information and funding alternatives, consumers are provided with a secure, confidential process to obtain up to four finance rate and term options.
myAutoloan.com facilitates the matching of lenders based upon customer needs via proprietary analysis and evaluation that is called "Preferred Placement." Focused on auto finance, the company is dedicated to providing customer choice for all aspects of the auto search, finance and purchase process.
Capitalizing upon consumer market research, the shifting trends towards increased information prior to purchase, and wanting more decision making authority in the selection of auto financing, myAutoloan.com truly excels. This is accomplished by the establishment of a user-friendly site, easy access to detailed information, convenience, privacy and options for financing alternatives.
We are proud to be the recognized leader of the online Auto-Buying Life Cycle process providing innovative technology-driven solutions and resources that delight our customers and lenders.
For more information, call toll free 1-866-625-2668, send us an e-mail at contact@myAutoloan.com, or visit http://www.myAutoloan.com.
If I apply for an auto loan, will that hurt my credit score?
The FICO score is known as BEACON® at Equifax, EMPIRICA® at TransUnion and the Experian/Fair Isaac Risk Score at Experian.FICO states that it has a de-dup process in a rolling 14 day period and that auto inquires count as one. This means that the FICO scores recognize an auto inquiry based on the subscriber code SIC/KOB and de-dup such codes when scoring a consumer's file.
Is it okay to shop for the best rate?
Looking for a mortgage or an auto loan may cause multiple lenders to request your credit report, even though you're only looking for one loan. To compensate for this, the score counts multiple auto or mortgage inquiries in any 14-day period as just one inquiry. In addition, the score ignores all mortgage and auto inquiries made in the 30 days prior to scoring. So if you find a loan within 30 days, the inquiries won't affect your score while you're rate shopping.