About rates
Rates on loans through LendingClub range from 2.24% APR to 19.99% APR*. Each customer’s exact rate is set based on our experience facilitating billions of dollars in loans for consumers. The interest rate is intended to compensate investors for the use of their funds AND to cover losses for loans that may not get paid back. In general, the lower the risk of non-payment appears to be, the lower the rate that can be offered.
To qualify for the lowest rate, applicants must have excellent credit, including:
- A high credit score
- A low percentage of total outstanding debt in relation to your income
- A long history of credit with significant successful credit lines
About fees
You won’t pay these fees:
- Auto refinance loans are NOT charged any application or loan origination fees.
- You can pre-pay the full loan amount without any fees or penalties.
Fees you may pay:
- Your state's DMV fee to transfer your title from your previous lender to us. You’ll see this fee in your Truth In Lending (TIL) disclosure when you accept your loan terms.
- We may assess late fees and other charges if you don't make your monthly loan payments on time (these fees and penalties are defined in the Loan Agreement).
* APR is the Annual Percentage Rate. Your actual rate depends upon your individual credit score and other key financing characteristics, including but not limited to the amount financed, term, a loan-to-value (LTV) ratio and other vehicle characteristics. Best APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice.