Super Money is an online platform specialized in facilitating car loans, vehicle refinancing, and various types of loans, including personal loans and mortgages. Through SuperMoney, users have the ability to easily compare and qualify for multiple car lenders by submitting a single form. This platform acts as a link between users and featured offers for vehicle financing, refinancing, leasing, and even title-backed loans.
Super Money services
Super Money connects borrowers with loans from its network of affiliated lenders. Regardless of the type of car financing you are looking for, SuperMoney examines its network for offers that fit your profile and preferences. The process is fast, simple, and free of cost or obligations for the user.
You only need to complete a short online form providing details about yourself, your vehicle, and the type of loan you want to apply for. SuperMoney takes care of the rest, using its search tool to find the most favorable rates for you.
Suitable For
Super Money is ideal for those who want to compare multiple lenders before applying for a loan. It accomplishes in a few minutes what would take an average person several hours. It processes user data to match them with the most appropriate lender based on their needs. One of the standout features of SuperMoney is the diversity of car loans it offers, ranging from vehicle purchase financing to refinancing options, leasing, and even title-backed loans.
Super Money features
While Super Money’s main mission is to facilitate the connection between borrowers and lenders, it also provides significant added value. Some of the standout features include:
- An extensive network of dozens of lenders.
- Diversity of car financing options.
- A free rate comparison tool that allows you to view basic information without the need for registration.
- Free resources designed to improve understanding of car financing.
- Free loan calculators.
- Acceptance of customers with various credit score levels.
Application Process
Although Super Money does not act as a direct lender, it plays a crucial role in helping users obtain prequalification. As SuperMoney operates as a marketplace, it facilitates obtaining prequalified rates from various lenders through a single form, a process that takes only a few minutes.
Elements to Provide:
- Type of car loan (dealer purchase, private purchase, refinancing, or lease purchase).
- Details about the vehicle (new or used, year, make, model, version, and mileage).
- Vehicle sale price and down payment amount.
- Estimated credit score.
- Educational level (e.g., high school, bachelor’s degree).
- Employment status (e.g., full-time employee, self-employed).
- Annual pre-tax income, payment frequency (e.g., bi-weekly, monthly), and payment method (e.g., direct deposit, payroll check).
- Details about homeownership (e.g., own with mortgage, own without mortgage, rent) and size of monthly payments.
- Personal information: name, date of birth, email, phone number, and address.
- Details of military service, if applicable (some lenders offer discounts to military personnel).
- State of residence (e.g., U.S. citizen, U.S. resident, non-resident state).
- Social security number.
Types of Loans and Terms
SuperMoney facilitates the connection of borrowers with various types of loans, including car purchase loans, whether from dealers or private individuals, vehicle refinancing, and financing for vehicle acquisition through leasing. This platform also helps link borrowers with loans on car titles, an option that allows owners to use their vehicle as collateral to obtain financing.
SuperMoney collaborates with various lenders, offering options that cater to a wide range of borrower profiles, including:
- Credit scores from 600-850.
- Loan amounts up to $100,000.
- Repayment terms ranging from 12 to 84 months.
It’s worth noting that some lenders may apply opening fees, prepayment charges, and penalties for late payments, while others may not.
Payment Options
Each lender presents its own term alternatives, with an absolute minimum of 12 months and a maximum of 84 months. Following the common practice among car lenders, all SuperMoney associates offer terms in one-year intervals, such as 12, 24, 36, 48, 60, 72, and 84 months.
Super Money and its security
Despite not acting as a direct lender, SuperMoney collects personal data from users to share with its network partners. Fortunately, SuperMoney ensures that it does not sell personal data to the highest bidder. This means users won’t have to deal with the inconvenience of persistent automated calls.
SuperMoney compares favorably with LendingTree and other prominent auto loan marketplaces. It operates with an extensive range of vehicle financing options, covering loans for purchase, refinancing, and leasing. Its lenders address a diversity of credit scores, loan amounts, and terms. Like other marketplaces, SuperMoney encourages lenders to compete for borrowers’ attention. This approach results in competitive rates and, at times, additional advantages such as waiving opening fees and prepayment charges.