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Springleaf Financial Personal Loans

Application Process
Customer Service
3.9 5

Springleaf Financial

  • Personal loans from $1,000-$25,000
  • Flexible. Terms that fit your needs and no pre-payment fees
  • Fast. Loan decisions as quickly as 1 hour
  • Convenient. Apply online, by phone or at your local branch

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  • Most Helpful Positive Review

    May 30, 2013

    Good deal for a bad credit loan
    Helpful to 263 out of 281 people

    If you are in a similar situation to me, Springleaf is probably one of the few options available to you. I just got my check from them today, and getting to that point was rather painless with a few caveats. I will write a detailed review below, but the short answer is that I would recommend this place to someone with a low credit score who has an urgent need for a lump of cash to pay some bills. It is a better interest rate than the payday loan places. They will try to push you to get credit insurance with your loan, but it was easy enough to tell them no to that. The branch manager assured me that I can make payments online and that this is a simple interest loan with no prepayment penalty. There were a few snags, but at the end of the day I have my money and can take care of some bills. If I have any problems down the road, I will come back and change my review. For now, I give them four stars.

    Now, here is the long review...

    My FICO score is in the low 600's, and I have a stack of medical bills that need to be addressed plus I am buried under a high interest (157%) long-term personal loan that I took through one of the payday loan places. To pay off the personal loan and medical bills, I needed about $4000. I was also hoping to get a little extra money to fund a trip to Chicago for a wedding this summer. With my credit score, I didn't even bother trying a traditional bank or credit union, and I was turned down by Prosper and LendingClub. So, Springleaf was one of my only options to get a loan.

    I filled out their online application, and I heard back from the branch manager the next day. Over a couple more days, he put together a package for me and gave me two options. I could either get a "personal property loan" for $3500, or put up my pickup truck as collateral and get a $5100 vehicle title loan. I originally chose to do the vehicle title loan.

    Now, here comes one of the reasons that I only rated the place as four stars. Similar to other reviewers, I had to drive over 40 miles to get to the nearest office. That was not a big issue in and of itself, but I wanted to make sure that there was nothing I was missing so I wouldn't have to make the trip more than once. Well, when I got there with all my paperwork (pay stub, W2, apartment lease, documentation of my bills, registration/insurance/title for my vehicle, and photo ID) it was only then that I learned I could not use my truck as collateral right now because the registration is due soon. They never told me about this requirement beforehand! Since I have to get some smog work done before I can renew my registration, there was also no way to correct that problem in the near future. So that took away one of my loan options. So much for that Chicago trip! If you are looking to get a vehicle title loan through them, make sure your registration does not expire within the next 60 days.

    Another reason I knocked off a star from them is that they kept trying the hard sell with me on the credit insurance. In fact they offer four or five different types of loan insurance, but I had already told him before I came in that I didn't want any of the insurance, so I just cut him off when he tried to pitch them to me again. Thank goodness for the reviews on this site, or I probably wouldn't even have noticed that they were going to automatically add insurance (which is apparently their standard practice).

    Another reason why I downgraded them by a star was this practice they have of trying to pay the consolidation bills directly. They didn't ask for all of my individual medical bills, but they did want to pay the payday loan place directly. I understand why they do that (they want to make sure you are not increasing your debt load with this loan), but sometimes that just isn't an option. Since the payday loan place directly debits my bank account for payments, and I never receive a statement with an option for mail-in payments, I had no idea how to go about repaying it with a check from Springleaf. I had to explain that and bring in some web page printouts to show him how that loan works, and assure him that the first thing I would pay off would be that payday loan.

    The final reason that I knocked off a star is the interest rate. I understand that a loan place like this is going to charge high interest. Part of the reason is that they have a corner on the market for bad credit loans, and part of the reason is that they need to cover the attrition of the inevitible number of these high risk loans that are going to default. They are charging me 34.99%. That is higher than any of my credit cards, but it is still a better rate than the 157% the payday loan place was charging.

    Overall, I am happy. I was previously paying $400 a month for that high interest loan and I had no idea how I was going to address this stack of medical bills. Now I will be paying $151 a month and the medical bills and payday loan place will be history. With any luck, I will even have some extra money to pay this loan off sooner. I didn't get as much money as I originally wanted, but they did take some big burdens off my shoulders.

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    davej323's review was:    


    Most Helpful Critical Review

    Mar 06, 2013

    Needed a Loan
    Helpful to 110 out of 126 people

    I went here because my credit score is below 600 (560), but all my current accounts (CC's, Car, Revoling, etc) has been in excellent condition for over 5 years.  Credit Score down due to old accounts during bad times.

    Yes the interest is high...but I'm considered a risk in this day and age with a sub 600 credit score. 

    I needed to fix my car and bill was $3500 and i didn't have it.  In 1 day I had a check without any colateral and my car is on the road.  I don't plan to pay the term but pay off in 6-12 months which will delete most of the high interest.

    All in all there is a need for companies like these when Banks and Conventional loan companies won't touch you.  The key is to always make your payments and pay as much extra each month as you can..

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    Reviews (765)

    Apr 15, 2015

    Helpful to 1 out of 2 people

    Highly recommend them if you are looking for a personal loan

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    MKENNISO3's review was:    

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    Apr 04, 2015

    spring leaf financial are Thieves
    Helpful to 13 out of 15 people

    I was desperate for a car, my credit was not so good and they financed me. Their interest rates are so high it should be illegal! People that have to go through them dont have money to throw away on 35% interest!!!!!!  They are Crooks and I just hope they are run out of buisness!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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    saivdbygrace's review was:    

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    Mar 26, 2015

    Helpful to 8 out of 8 people

    I applied for the loan and within a few days I was at their office signing my paperwork and getting my checks.  It was fast and easy.  I am rebuilding my credit and was surprised I was approved for a loan.  I would definately recommend them and use them again.

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    cundiffs32's review was:    

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    Mar 24, 2015

    Good loan after bankruptcy
    Helpful to 9 out of 12 people

    Springleaf helped me out when no one else would.  I was discharged from bankruptcy 8 monthes ago due to poor decisions and huge medical bills. After I was discharged, I kind of went credit card crazy and got several cards in a few monthes and charged too much on them.  I never had any late payments but  I wanted to pay them off all at once.My score is around 600 and they approved me for bill consolidation with a payment that's over $100 cheaper than what I was paying for the cards.  I did have to use my car as collateral though.  I just got the loan so no bad experiences to report but I will say that they put a hard inquiry on your report before you accept the loan even though they say they won't.  They also try and sign you  up for extra things and make it seem like it's part of your loan.  You can deny the extras even though I did take the credit insurance.  

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    rivalee17's review was:    

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    Mar 23, 2015

    Helpful to 19 out of 20 people

    did not even apply for this was on Credit Karma just check too see rates then someone from springleaf start calling me said my application was not complete and i told them i did not apply for a loan with them got home today had a statement of credit denial saying reason for denial was Credit applicantion was they put it on my credit report as a bull.....sending it too BBS

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    eburnett7's review was:    

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    Mar 21, 2015

    Outstanding Customer Service!
    Helpful to 3 out of 3 people

    Even if you have a few dings on your credit report, they will listen and try their best to help you out. They are very helpful throughout the whole process. I have never had a problem with any of their services.

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    Cromisd's review was:    

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    Mar 20, 2015

    Helpful to 1 out of 1 people

    The young lady that took care of me from the first call, was pleasant and very, very helpful. There wasn't any Information that was not bought to my attention.The customer service was outstanding. I would definitely refer this location...



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    theraze7's review was:    

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    Mar 19, 2015

    Charge very high interest rates
    Helpful to 3 out of 5 people

    I was not told an interest rate until after I sat completing paper work for over an hour then they had me sit for another 45 minutes before they told me I was approved by then I almost walked out but with all the time invested I took the High Rate loan which was crazy....For me it was better to take monthly payday loans...Lesson learned!!! As long as your payments were made early, it cut off ALOT of interest but if you made it on the day due or next day...All but a very small portion of your payment went to interest...Only positive thing for me was I got a loan I really didnt need but wanted it to help out a family member...Thankfully I was able to pay off my loan early....

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    Mar 18, 2015

    Exytreamly good product with no prepay c
    Helpful to 2 out of 2 people

    with no prepay cost and very helpful personnel it was a great experience

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    Mar 17, 2015

    Excellent place!
    Helpful to 2 out of 2 people

    I appreciated all they did for me!

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    Kirstonc1's review was:    

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    Company Overview

    Founded in 1920, Springleaf Financial Services provides personal loans for a variety of purposes including bill consolidation, home improvements, college tuition as well as unexpected expenses. Consumers can begin the application process online and then visit one of Springleaf’s convenient branch locations throughout 25 states in order to complete the application and receive their funds. Customer service is available online, by phone or in branch locations.

    *Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based upon information entered by the consumer and through analysis of information publicly available at lender websites. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 7% to 30%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, credit usage and history. All loans are subject to credit review and approval. When evaluating offers, please review the lender’s Terms and Conditions for additional details.