Springleaf was an online, personal loan company which also dealt with borrowing for automobiles. The company was recently purchased and is now part of OneMain, a century-old financial institution which handles both online and personal loans at their branch offices.
Loans up to $25,000 can be requested via various forms of application. Payment is made online or through a local branch.
How Does One Apply for a OneMain Auto Loan
The way to apply is a fairly simple process online. Select the amount required, what it’s for, and if it’s an individual loan or one signed with a co-applicant. Provide information on work and income and submit via electronic signature. Once a credit check is performed by OneMain the applicant receives permission or denial. If it’s approved, the applicant signs the loan documents.
When do I Receive the Funds
Funds are received by going to a local branch of OneMain. According to the website, a majority of citizens in the U.S. live approximately 13 miles from a OneMain office. Applicants should contact OneMain customer support should they not live near a branch to determine the best way to receive the loan.
What Type of Auto Loans Can I Purchase from OneMain?
There are three types of auto-based loans one can purchase. There’s purchase finance to buy a new or used vehicle, refinance balance to find a lower rate for the current amount owed, or cash out refinance to reset your auto loan to a lower rate while getting cash back.
How Much Can I Borrow From OneMain?
Applicants can borrow as little as $1,000 up to $25,000. First-time applicants may be limited to the amount they can borrow at one time. The maximum amount which can be borrowed may be determined by an applicant’s credit rating. According to credit rating sites, OneMain will accept loan applications for those with ratings of 550 or above.
What are the Current and APR Rates Offered by OneMain?
OneMain does not provide APRs or standard interest rate listings on their website. It is recommended to contact a representative of the business to determine the current rates and how they differ by region and credit rating.
What Else Should I Know About OneMain?
The company has received a five-star rating and 9.3 out of 10 points by the site TrustPilot.
OneMain received a four out of five-star rating by CreditKarma