Similarly, Jerry can now help you find the best auto refinance rates by showing you competitive quotes from dozens of lenders. Check out auto loan refinancing with Jerry to make it easier to pay off your financed vehicle.

Calculate your APR

Here’s a handy tool to help you calculate your approximate loan interest rate:

Loan Amount

Credit Rating

Average Annual Interest Rate	Average Monthly Payment
8.45	$362

Discover loans overview

Discover doesn’t offer auto loans, but they do offer personal loans that can be applied to the purchase of non-traditional vehicles, like motorcycles and RVs.

Here’s everything you need to know about Discover personal loans:

Starting APR: 5.99% to 24.99%
Minimum loan amount: $2,500
Maximum loan amount: $35,000
Loan terms: 36 to 84 months
Application fee: No
Prepayment penalty: No
Prequalification or preapproval: Yes
How to apply: Online or over the phone

Discover loan pros	Discover loan cons
Option to check your rates before applying	High interest rates
Accepts a wide range of vehicles (including cars with salvage titles, high mileage, etc.)	No cosigners allowed
No origination fees	Credit score is the main factor that’s considered during the approval process
No prepayment penalties	$39 late fee
Possibility of getting funding the day after approval	Funding could take up to seven days
Option to return entire loan amount without additional interest within 30 days	Extra payments are applied to unpaid late fees and interest before going to the loan principal
Ability to change payment date twice during the lifetime of the loan	—-

What kind of loans does Discover offer?

Loan types

Discover offers personal loans that can be used to finance alternative vehicles, including:

Motorcycles
RVs
Boats
ATVs
Motor scooters
Electric bikes

How much do they cost

Interest rates on your Discover personal loan are calculated based on a number of factors, including your credit history, personal information, loan amount, and loan term.

Luckily, you can check your projected rate on Discover’s website before you apply.

Who is eligible?

To qualify for a Discover personal loan, you must:

Be a U.S. citizen or permanent resident
Be at least 18 years old
Make at least $25,000 in terms of your household income

Getting a quote

Application requirements

You can apply for a Discover personal loan online or over the phone. You will need to provide the following information:

Desired loan amount
Desired payment term
Personal Invitation ID number (if applicable)
Household income
Employment history
Bank account number
Routing number

Financing amount

Discover offers personal loans between $2,500 and $35,000.

What if Discover isn’t the right choice for you?

Your loan terms will differ from lender to lender depending on your credit history, debt-to-income ratio, available down payment, and more.

To make sure you’re getting the best rate, it’s best to shop around.

Jerry is the super app that helps you save on all your car-related expenses, including auto loan refinancing.

After a quick sign-up, Jerry will compare loans from dozens of different lenders to find you the best loan terms. Even better, Jerry will handle all the hard parts of refinancing so that you can sit back and enjoy the monthly savings.

Here are average rates from some of the most popular lenders:

Lender	Starting APR	Terms (months)	Loan amount
Bank of America	2.59%	48–72	$7,500+
Lightstream	2.49%	24–84	$5,000–$100,000
myAutoLoan	2.49%	24–72	$8,000+
Carvana	3.9%	36–72	$1,000–$85,000
Capital One	3.99%	36–72	$4,000–$50,000