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Auto Loans

Upstart Auto Loan Refinance Review

3.9 /5
LendEDU Rating
Auto Loan Refinance
  • Approval process looks beyond just credit score to consider education and job history
  • Quick online application
  • No hard credit pull (meaning no credit score impact) to see rates
  • Works with a network of lenders, so your loan isn’t directly with Upstart
  • Doesn’t allow cosigners or co-borrowers
  • Not available to residents in Iowa and Maryland
Rates (APR)Not disclosed
Loan amountsStarting at $3,000
Repayment terms24 – 84 months

Upstart uses artificial intelligence in its auto refinance loan approval process to assess risk. This makes Upstart a solid choice for borrowers who might not get approved using traditional metrics. Before choosing Upstart, consider how its unique lending model fits your needs. 

We recommend Upstart for borrowers who are tech-savvy and looking for a quick digital application. Ideal borrowers would have fair-to-good credit and wouldn’t need a cosigner. If you have a higher-mileage vehicle, you might need to look elsewhere. 

About Upstart

Upstart is changing the way you apply for a loan by leveraging financial technology. It uses artificial intelligence to assess risk more accurately. So far, this approach has allowed more people to access more loans at lower rates. 

Upstart specializes in personal loans but has recently extended its services and technology to auto retail and refinance loans. Over the past seven years, Upstate has worked to refine its state-of-the-art lending technology and build a fair lending framework.

With access to over 100 banks and credit unions, the company says its network of “Upstart-powered lenders” has helped over 2.9 million customers and generated over $36 billion in loan originations across all its products. 

Our take on Upstart auto loan refinance

Upstart’s auto loan refinancing services use artificial intelligence to look beyond your credit score and understand more about your financial situation when you apply. The application process is entirely online and streamlined to get you a fast approval. Upstart mentions that customers, on average, save $1,064 annually after refinancing their car loans. 

Upstart offers educational resources and online tools for borrowers and lenders, which shows that it values transparency. Checking your rates won’t affect your credit score, and if you proceed, no application fees or prepayment penalties apply. Upstart might be an option for anyone who is shopping around for auto refinance rates and wants a quick quote with little to no impact on their credit history. 

Rates, terms, and more

Using a modern mix of AI technology and personal details, Upstart offers competitive rates and loan terms. Unlike other lenders, which only consider credit scores, Upstart considers other factors, including education and work experience. This method allows it to customize its deals to suit each borrower. 

Take a look at Upstart’s auto refinance details:

RatesNot disclosed; vary by state
Loan amountsStarting at $3,000
Repayment terms24 – 84 months
AvailabilityAvailable in 48 states (Iowa and Maryland excluded)
FeesNo prepayment penalty, no application fees
Unique featuresAI-powered risk assessment

How do you repay an auto refinance loan from Upstart?

Repaying your auto refinance loan from Upstart is user-friendly and simple, in line with the company’s tech-savvy style. You can choose from a range of repayment terms lasting 24 to 84 months, which is standard in this industry. 

Stretching out your payments will lower your monthly costs, and speeding them up will help you cut down on interest payments. Your payment options include recurring payments, one-time payments, check payments (through Billpay), and bimonthly payments. Additional perks, such as no prepayment penalties, allow you to save on interest over the life of the loan. 

Compared to other auto loan companies, Upstart stands out for its flexible repayment options, making it a top pick for borrowers. However, Upstart works to place borrowers with its network of lenders—so the final terms of repayment are up to the financial institution you take out a loan with. 

Who’s eligible for Upstart auto loan refinance?

Upstart’s auto loan refinancing isn’t just for a select few. Part of its appeal is its use of financial technology (fintech) to create a fair lending framework. This means everyone has a fair chance of securing a loan

Upstart doesn’t advertise minimum credit requirements because its lending partners have unique requirements. However, Upstart states that applicants with insufficient credit history can still apply. For applicants with fair-to-bad credit, Upstart will consider your debt-to-income ratio before matching you with a lender. 

Unlike several other lenders, Upstart doesn’t allow co-borrowers on refinanced auto loans. If you have a co-borrower on your current loan, you can apply to refinance the loan in your name only. If you co-own a car, you can refinance the car as long as the co-owner signs a consent form. 

Minimum age18 years old
Vehicle requirementsMust be less than 13 years old with under 140,000 miles
Minimum credit scoreVariable; must meet lending partners’ minimum credit requirements
Minimum income$12,000 annually

Other requirements include a valid email address, Social Security number, proof of insurance, a copy of the vehicle registration card, and verifiable income for the past 6 months.

Pros and cons of Upstart’s auto refinance loans

Before you choose an auto loan refinance company, it’s smart to consider the benefits and drawbacks.


  • Enhanced approval process

    Upstart uses AI to screen borrowers, taking into account education and job history rather than just credit scores.

  • No fees for early payment

    No prepayment penalties mean you have the freedom to pay off your loan early.

  • Speedy application process

    The entire process is online, and most applicants can view personalized rates within minutes.


  • No cosigners or co-borrowers allowed

    Upstart doesn’t allow cosigners or co-borrowers on auto refinance loans, which could pose a challenge for applicants who could benefit from a cosigner’s creditworthiness.

  • Limited availability

    Upstart is not available to residents in Iowa and Maryland

  • Vehicle restrictions

    Vehicles must be 13 years old and under 140,000 miles which excludes higher mileage and classic cars.

If you consider these drawbacks potential deal breakers or want to explore other options, consider our best auto loan refinance companies

How do I apply with Upstart?

To refinance your auto loan with Upstart, just follow these simple steps.

1. Check your rate

  • Visit Upstart’s website and navigate to the auto loan refinance section.
  • Fill out a form with your basic information, including your income, education, and the car you want to refinance. This process does not affect your credit score. This can take around two to five minutes. 

2. Review your offer

  • After you submit your information, Upstart will give you conditional offers based on your information.
  • Review the terms and rates to see whether they meet your needs. This happens right after you submit your information

3. Complete your application

  • Choose an offer, and fill out a full application. Prepare documents such as proof of income, employment verification, and information about your vehicle. 
  • At this stage, Upstart will conduct a hard credit pull, which may affect your credit score.
  • This can take 30 minutes or more, depending on how fast you can gather your documents

4. Final approval 

  • Once your information is verified, Upstart will finalize the loan terms. 
  • Final approval can take one to three business days after you submit your documents.
  • Depending on how quickly you move through the steps and verify your documents, the entire process can be completed within a week.

How we rated Upstart

We designed LendEDU’s editorial rating system to help consumers identify companies that offer the best financial products. Our experts spend hours researching these companies each year to ensure our ratings are fresh and accurate.

Our most recent evaluation compared Upstart to several auto lenders across a number of factors, including rates, fees, transparency, and customer experience. We weighted, scored, and combined these factors to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. We round all ratings to the nearest tenth decimal place.

ProductLendEDU rating
Upstart auto loan refinancing3.9 out of 5