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SpringboardAuto is targeted at drivers with less-than-perfect credit scores who need quick financing. Using algorithms, this online lender streamlines the long and confusing loan process without resorting to a “one size fits all” approach.

SpringboardAuto car loan attempts to reach a happy place between the personalized experience of traditional lenders and the speed of online financing. While it’s a good approach, it’s not exactly unique as many other lenders use the same end-to-end service.

What sets SpringboardAuto apart from its competition is that it provides financial solutions for people with poor credit who need a car and are facing trouble qualifying for a loan. Many of its online reviews praise them for helping people with poor credit.

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  • Fast application process
  • No pre-payment fee
  • Low credit score requirements


  • Operates in limited states
  • Undisclosed APR range
  • Charges additional fees


SpringboardAuto calls your application for a soft credit check as it bases everything from your loan rates and terms to your eligibility requirements on your credit score. SpringboardAuto doesn’t disclose its APR range, which is worrisome as lenders tend to do this to hide expensive loans.
SpringboardAuto charges for application, late fees, and origination, and it doesn’t disclose how much they are going to charge. SpringboardAuto isn’t licensed to lend in a lot of states. Therefore, make sure you live in a state where it provides its services.


With its fast application process, borrowers will only need a minute to apply for a loan online. SpringboardAuto takes steps to tailor its application process to your individual situations. It has low credit requirements which makes it easier for all applicants to get an auto loan. There is no pre-payment penalty either.

Other offerings

SpringboardAuto offers term loans for the purchase of new and used cars, which varies depending on the location at which you want to purchase your car.

  • Private-party car loans: With a private-party car loan, you can pay for a used car that you might want to purchase from a friend or neighbor.
  • Dealership purchase car loans: You can also finance new and used cars directly from a dealership.

Auto loan refinances: Swap your old car loan for a better one that provides favorable rates and terms.

Terms and conditions

You must have a credit score of 500 or higher to qualify for a loan. You must also live in a state where SpringboardAuto is licensed to operate. If you pre-qualify, the company provides a personalized set of eligibility requirements that you will need to meet to get a loan. With a better credit score, you will have to fulfill fewer requirements.

SpringboardAuto requires more concrete vehicle eligibility requirements:

  • The car’s total cost must be between $7,500 and $45,000.
  • The car must be a model released after 2009.
  • The car must have less than 125,000 miles on the odometer.
  • It should be a personal-use vehicle.
  • It cannot be a heavy-duty truck, electric or leased car, commercial vehicle or conversion or cargo van. Your car must not have a branded or salvaged title, modified odometer or flood or frame damage.

Tools offered

SpringboardAuto’s website is mostly geared toward those applying for a loan. However, you can find answers to frequently asked questions as well. The company also offers a “Loan Configurator” to applicants to help them adjust the down payment and terms to see how it affects your monthly payment.

Credit score

SpringboardAuto’s interest rates start at around 5% and will only be available if you have qualifying credit. The average credit score among its customers is 600, for which they offer loans with a 12% interest rate. Lenders usually set their own requirements, but good credit scores start at 690.

You need to keep in mind that you won’t let the lowest interest rates if you have average or below-average credit. Once you know your credit score, you can get an idea about the interest rates that you may be charged.

Applying for the loan

  • Once you have determined that you want to apply for a loan, you need to look at your finances against potential loan costs, monthly fees, and a down payment. To apply, go to SpringboardAuto website and click on “Apply.”
  • Answer the given questions. Note that SpringboardAuto will run a soft credit check that won’t affect your credit score.
  • Carefully read through the Electronic Document Consent, Communication Consent, and Credit Application Disclosure & Terms. Click “Apply Now” once you have understood the terms.
  • Once you’re preapproved, SpringboardAuto will approach you to discuss the types of loans for which you have qualified. You will also be asked to upload the required documents.
  • Go through the final loan documents carefully, and once you are satisfied, sign them electronically to agree to their terms.
  • If you are buying from a dealer, set up an appointment with the dealership to choose your car. SpringboardAuto will fund your dealer immediately and coordinate your vehicle’s delivery.