1 This information is estimated based on all consumers who were approved for an auto loan through Upstart and accepted their final terms. As of 1/1/2023, the average yearly savings amount is $1,234. To evaluate savings on a loan you are considering refinancing, it is important to compare your APR and remaining term from your existing automotive loan to the APR and term offered through Upstart.
2 When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
3 Your loan amount will be determined based on your credit, income, the outstanding balance of your current auto loan, and certain other information provided in your loan application. Not all applicants will qualify for the full amount.
4 The full range of available rates varies by state. The average 5-year loan offered on Upstart will have an APR of 16.68% and 60 monthly payments of $529 per $20,000 borrowed. For example, the total cost of a $20,000 loan would be $31,764. APR is calculated based on 5-year rates offered in December 2022. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
5 Although educational information is collected as part of Upstart's rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.
6 As of 12/31/2022, across the entire Upstart marketplace.
State Restriction: Car refinance loans not available in MD and NV.