- Minimum 510 credit score to qualify
- Pre-qualify with a soft credit check
- Phone support available 7 days a week
- Does not allow co-borrowers
- High 4.5% origination fee
Upstart is suited for vehicle owners who have poor credit. That’s because this lender will issue auto refinance loans to borrowers with a credit score as low as 510, while many competitors require a credit score of 600 or higher. In addition, Upstart allows you to take out loans with a maximum loan-to-value ratio of 145% and doesn’t require borrowers to have a minimum income to qualify for a refinance loan.
Upstart’s auto refinance loans have saved borrowers an average of $230 per year on their car payments. Any insured personal vehicle qualifies for a refinance loan as long as it’s less than 10 years old and has done fewer than 120,000 miles. Even better, you only need to have a minimum credit score of 510 to qualify for a loan. Upstart allows you to check your interest rate online and pre-qualify without impacting your credit score.
- Borrow up to $60,000
- No prepayment penalty
- Check your rate without impacting your credit score
- Available in 46 states
Upstart’s application process is carried out entirely online. You can check your rates and pre-qualify for a loan offer by entering details about yourself and your vehicle. Upstart conducts a soft credit check which won’t impact your credit score.
If you want to accept a loan offer, you’ll need to upload supporting documents such as a paystub and proof of car insurance. Upstart typically takes between 30 and 60 days to process your loan and transfer your vehicle’s title.
Loan Types and Terms
Upstart only offers auto refinance loans for personal vehicles. You cannot use an Upstart loan to buy a new vehicle or to refinance a commercial vehicle. Note that all Upstart loans include an origination fee of 4.5%, which is deducted from your total loan amount.
- Minimum credit score of 510
- Maximum loan-to-value ratio of 145%
- Vehicle must have fewer than 120,000 miles
- Vehicle must be less than 10 years old
- Current loan must be at least 1 month old
Upstart’s auto refinance loans are designed to match the term of your current auto loan, although the company will extend your repayment period by 12 months in some cases. Upstart offers a maximum loan term of 72 months, and you cannot choose the term you receive.
How Safe Is It?
Upstart has worked with over 800,000 borrowers since the company launched in 2012. It has a 4.9-star rating on TrustPilot after more than 10,000 reviews and an A rating with the Better Business Bureau. Upstart’s online application and client portal are protected with SSL encryption to keep your information secure.
Help & Support
Upstart offers customer support by phone and email from 6 am–5 pm (PT), 7 days a week. You can also find more information about the application process in the company’s online help center.
Phone: (650) 204-1000
How Upstart Compares
|Minimum credit score||510||575|
|Loan term||12–72 months||24–84 months|
|Best for||Borrowers with poor credit||Lower monthly payments|
Upstart makes it easy for vehicle owners with poor credit to refinance and save money on their auto payments. This lender requires a minimum credit score of just 510 and issues loans with a maximum loan-to-value ratio of 145%. You can borrow up to $60,000, and any personal vehicle that’s less than 10 years old and has fewer than 120,000 miles on the clock qualifies. You can apply online with Upstart, and help is available 7 days a week.
Upstart, 2950 S. Delaware Street, San Mateo, CA 94403