Upstart is a lending platform that offers various types of loan services including personal loans, car refinancing, and debt consolidation. Here’s an overview of what they offer:
- Personal Loans: Upstart provides unsecured personal loans ranging from $1,000 to $50,000. The interest rates and terms can vary based on the applicant’s credit profile and state of residence. For example, a representative example given is a $10,000 loan for a term of 60 months, with an interest rate of 21.58% and an origination fee of 9.84% ($984), resulting in an APR of 26.82%. The borrower would receive $9,016 and make 60 monthly payments .
- Auto Refinance Loans: They also offer auto refinance options. An example provided is a $20,000 loan for a term of 60 months, with an interest rate of 17.34% and an origination fee of $1,000, leading to an APR of 19.06%. In this scenario, the borrower would receive $19,000 and would make 60 monthly payments of $502 .
- Application Process: Applying for a loan with Upstart involves providing information about your education, work experience, and the purpose of the loan. The process includes a credit report check and verification of personal and credit information .
- Customer Reviews: Upstart has received positive feedback for its easy and fast loan process, as well as the quick deposit of funds. Their customer service is noted for being helpful, courteous, and professional .
- Reputation: As of early 2024, Upstart is highly rated by customers, with thousands of reviews on platforms like Trustpilot. The reviews highlight the simplicity of the application process and the fast receipt of funds .
Upstart appears to be a convenient option for individuals looking for personal or auto refinance loans, especially for those who value a straightforward application process and quick access to funds.
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