In a Nutshell
- Accepts drivers with bad credit or no credit
- Accepts applicants with bankruptcies
- Gets you in touch with a lender in 10 minutes
- No transparency about partners or rates
- Barely any customer support
- SSN and other sensitive info required to see rates
StartAutoLoan.com at a Glance
Direct lender or marketplace? Marketplace
Loan types: Secured auto loans
Loan amount: Up to $50,000
Repayment terms: Varies
Minimum credit score: None
Best for: Drivers with bad credit or low credit
As discussed in the intro, this service is best for drivers with bad credit or low credit. Bad credit refers to people in what is known as the “fair” or “poor” credit range, i.e. credit scores of 670 or below. Drivers with bad credit typically find it harder than other borrowers to get approved for an auto loan. This is where the StartAutoLoan.com marketplace steps in, helping match you with a suitable lender.
With StartAutoLoan.com, what you see is what you get: a marketplace that helps match you with auto lenders. Aside from the loan matching tool, you won’t find any other products, services, or education resources on this platform.
Here are the main features of the StartAutoLoan.com marketplace platform:
- Allows you to apply for an auto loan from the comfort of your own home
- Prequalifies you for multiple lenders from its partner network
- Gets you in touch with a lender in typically around 10 minutes
- Gets you approved in typically 24 hours
- Takes just a couple of minutes to fill out the application form
The application process for StartAutoLoan.com really couldn’t be simpler. All that’s required of you is to spend 2-3 minutes entering in key information about yourself. Once that’s done, StartAutoLoan.com will show you prequalified offers from its network of vetted auto financing providers. If you like one of the options, click on it to proceed to a formal application.
Here’s what info you’ll need to provide:
- Name and contact details
- Social security number
- Requested loan amount
- Available down payment
- Monthly income
- Monthly housing payment
- Bank account type
- Employer name, job title, and length in employment
- Co-signer details (if you have one)
It’s important to note that as part of its service, StartAutoLoan.com will share your contact details with its partners. Therefore, you can expect your phone to start ringing within a few minutes of hitting the “Submit” button on your application. StartAutoLoan.com provides virtually no information on which lenders it works with. However, we did some digging around on its website and found that its partners include 1800CARSHOW, Detroit Trading, DriveTime, and other third parties.
Loan Types and Terms
StartAutoLoan.com exists solely to match users with secured auto financing. It is not a lender and not a broker, only a matching service. Unfortunately, it doesn’t offer any information whatsoever about the rates and terms you can expect to be offered by its partners. However, given that StartAutoLoan.com caters to borrowers with bad credit, no credit, and prior bankruptcies, it’s safe to say the interest rates are going to be higher than average.
How Safe Is It?
Whenever you provide someone your social security number, you want to be sure your personal data is protected. In the case of StartAutoLoan.com, we’re happy to report its website is secured by McAfee Secure SSL security, meaning your social security number is encrypted and can’t be read on anyone else’s screen. With that said, we’re concerned that nowhere on the StartAutoLoan.com website do they reveal the name or details of the business that operates the website.
Help & Support
If you have bad credit and want the convenience of prequalifying for multiple lenders through the internet, then use this service. However, be aware that aside from a direct contact form on the website, they don’t offer any customer support.
There are really three reasons to use StartAutoLoan.com instead of other loans marketplaces: having bad credit, no credit, or prior bankruptcies. If any of those things describe you, you’ll find it difficult to get approved for regular auto financing. This is where StartAutoLoan.com steps in, finding you tailored financing options for your next vehicle purchase.