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LAST UPDATED: April 23rd, 2021

Founded in 2003, is an internet-based auto financing marketplace owned by Horizon Digital Finance, LLC. It helps people research, finance, and buy a vehicle or motorcycle. Loan applications for are free and fast. 

The company’s website facilitates the matching of borrowers to appropriate lenders, based on each customer's needs. It uses a proprietary analysis and evaluation process called Preferred Placement to provide its customers with up to four car loan offers from which they can choose.

myAutoloan has some general qualifications for its loan offers: 

  • Minimum income: $1,800 per month, $21,600 per year
  • Minimum loan amount: $8,000
  • Minimum credit score: 575
  • Max vehicle age: 10 years
  • Max vehicle mileage: 125,000

Loan offers are good for 30 days from application. 

Some lenders in the company’s network will facilitate a trade-in. Likewise, down payment requirements are variable depending on the loan offer and online lender you choose. Some lenders will require a copy of your driver’s license, car insurance proof, references, and/or a paystub. 

Keep reading our myAutoloan review for pros and cons of looking for a vehicle loan from this site.


The Good

  • Low Interest Rates
  • Direct-to-Consumer Financing
  • No Prepayment Penalties

Low Interest Rates advertises low annual percentage rate (APR) financing options for all of its products. Loan terms range from 36 months on the low end, and 72 months on the long end. For customers with excellent credit, rates vary according to min and max loan term: 

  • New Auto Loan - 2.49% to 4.69% APR
  • Used Auto Loan - 2.74% to 4.94% APR
  • Auto Refinancing Loan - 2.39% to 3.15% APR
  • Private Party Loan - 2.49% to 4.69% APR
  • Lease Buyout - 2.49% to 3.94% APR

While these rates are very low, it's important to keep in mind that your approved percentage rate will vary based on your credit history, including your current credit score.

Direct-to-Consumer Financing offers direct-to-consumer financing, which makes the buying process simple and streamlined. As a one-stop-shop, all you have to do is fill out a free application online and the company will then provide you with four offers. 

You can have your money via direct deposit or check within 24 hours.

No Prepayment Penalties

With, you can pay off your loan early without being penalized. With extra payments, you can save hundreds of dollars in interest and fees. Also, there are no fees or obligations to use the loan.

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The Bad

  • Variety of Websites for One Company
  • No Car Loan Approval Guarantees
  • Mileage Limits and Vehicle Loan Restrictions
  • Service in 48 States
  • Bad Credit Restrictions

Variety of Websites for One Company

Horizon Digital Finance, which is's parent company, has six different websites that it uses to facilitate business dealings. However, for those websites directly related to, they just use,, and their blog. 

This can be a bit confusing for consumers who don't understand exactly how the company operates.

No Loan Approval Guarantees

Unfortunately, doesn't offer any type of loan approval guarantee. Additionally, the company has stated that it does not accept individuals with an open bankruptcy. 

However, other than that,'s minimum approval requirements appear to be relatively liberal. 

The website provides several widgets that allow customers real-time data for specific area codes. These widgets include an interest rate estimator, an interest rate chart, and a monthly payment calculator.

Mileage Limits and Vehicle Loan Restrictions has set a mileage limit restriction of 125,000. This means that if you want to buy a vehicle with more than 125,000 miles, you won't be able to finance it through 

In addition, the company has set a minimum loan amount of $8,000, meaning that if you'd like to purchase a car that costs less, you'll have to find another auto loan company to work with.

Also, there are restrictions on the type of car you can buy, regardless of loan amounts. A loan can’t be used to pay for high-end sports cars or heavy-duty trucks or vans. 

Service in 48 States

Unfortunately, myAutoloan doesn’t do business in Alaska or Hawaii. Car buyers in these states will have to look elsewhere for vehicle loans. 

Bad Credit Restrictions

If your credit history is less than stellar, you won’t be approved. If your FICO score is less than 575, you won’t be getting a loan from myAutoloan’s network of online lenders. 


The Bottom Line offers an online loan application, with loans to purchase or refinance a car. It offers low interest rates, direct-to-consumer financing, and no prepayment penalties.

However, there is a bit of brand confusion with's parent company. Additionally, has set mileage limits and loan restrictions and does not offer loan approval guarantees.

People with poor credit won’t be approved for vehicle loans through this lender, regardless of payment term length.

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