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SuperMoney is a loan comparison site that aligns borrowers with a number of partner lenders. SuperMoney stands out from other comparison sites by offering a wider selection of options for auto loans, business loans, and tax advisor comparisons.

SuperMoney Review

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Where SuperMoney really differentiates itself from its competitors, however, is that it allows users to leave reviews of its partner lenders. Before you even enter any details, you can see how many users would recommend a particular lender, get indicative interests, and see which lenders charge fees.SuperMoney does not lend money directly, nor offer advice on services, but is instead partnered with dozens of lenders across a large range of products, including six different types of personal loans and debt consolidation services.&nbsp;Information on some offerings can sometimes be a little basic, though, and some customer reviews aren’t particularly helpful. As with any comparison site, we’d recommend doing your own research into any of the individual lenders on offer. Keep reading to learn more about the loans on offer.&nbsp;<h2>Loans and policies breakdown</h2><ul><li>Personal Loans</li></ul>SuperMoney has six different types of personal loans available. It has such a wide range of lenders to choose from that interest rates, repayment terms and loan amounts can vary enormously. This means it can be a little difficult to get an idea of what you’ll be paying until you actually start to submit your details.We’ve gone into some details below, but bear in mind that your terms could be very different when applying.<h4>Auto loans</h4>Key features include:<ul><li>Minimum credit score requirements range from 500 to 850</li><li>Loan amounts range from $250 to $50,000</li><li>Interest rates from 2.19% to 35.99%</li><li>Repayment terms between 6 and 84 months</li><li>Some lenders charge no late fees or origination fees while others will</li></ul><h4>Auto title loans</h4>While an auto loan is used to purchase a new car, an auto title loan will use your existing car as collateral for borrowing. Meaning if you don’t pay back the money you borrow, the lender can seize your car to cover the cost. These can be risky and come with very high interest, but are commonly used for those with low credit scores.<ul><li>A minimum credit score of 300 required</li><li>Interest rates range from 6.99% to 165%</li><li>Borrow between $1,000 and $25,000. You can usually borrow up to 60% of your car’s value</li><li>You’ll need proof of ownership and evidence the car is in working condition</li><li>These loans usually come with a lot of additional fees for admin work, document processing, and origination.&nbsp;</li></ul><h4>Business loans</h4>SuperMoney also has a wide range of business loan partners if you’re looking to start your own small enterprise.<ul><li>Borrow between $500 and $2 million</li><li>Interests rates between 1.5% and 99%</li><li>Repayment terms between 1 and 60 months</li><li>Some loans may be secured, meaning your home or other assets will be at risk.</li><li>You’ll need to present a detailed business plan on application</li></ul>Payday loansThese are high interest, short-term and low-value loans. Borrowing is done with the promise of a portion of your next paycheck.<ul><li>No credit rating needed.&nbsp;</li><li>Incredibly high interest rates between 390% and 780%</li><li>Borrow between $100 and $2,500</li><li>Expect to pay additional fees between $15 and $125 as a set-up cost</li><li>Some lenders have no minimum income requirements. Others expect you to be earning at least $1,000 per month</li></ul>Personal lines of creditThese types of loans are similar to credit cards in that they give you a set credit limit that you can draw on as needed. Instead of using a card, the funds will be deposited directly into your bank account. If you don’t pay these off in time, you’ll get stung with very high interest payments.<ul><li>Interest rates between 6.99% and 400%</li><li>Borrow between $200 and $20,000</li><li>No repayment terms. You borrow money when it’s needed and continue monthly payments until the debt is settled.</li><li>Most providers on SuperMoney charge no fees</li></ul>General personal loansThese can be used for just about any purpose. SuperMoney has a long list of partner lenders to choose from, including those offering both long and short term borrowing options. With so many lenders to choose from, there is a large variance in terms.<ul><li>Interest rates from 5.99% to 500% - Some lenders have cosigner options to reduce rates</li><li>Borrow between $250 and $100,000</li><li>Repayment terms between 1 and 72 months</li><li>A lot of lenders won’t charge any fees at all, while some may have high fees</li></ul> <ul><li>Private student loans</li></ul>SuperMoney has a few private student loan options available too. There are better comparison sites out there that specialize in student loan financing, such as Credible, where you may find better rates, but there’s no harm in checking out the options on offer at SuperMoney.<ul><li>Borrow between $1,000 and $250,000</li><li>Interest rates between 3.98% and 14.92% -&nbsp;</li><li>Cosigning options are available</li><li>No additional fees on student loans&nbsp;</li></ul> <ul><li>Mortgages</li></ul>SuperMoney has quite limited information on mortgage offers. It has a number of mortgage broker partners, but few details are given on interest rates, fees, and repayment terms. If you're a first-time buyer or are moving home, you may be better off looking for mortgage brokers in your area or using specialist mortgage broker comparison sites.SuperMoney does, however, offer more options for those looking for “HELOC” loans, or Home Equity Lines of Credit. These are like taking out a second mortgage on your home where you borrow money for another purpose, using your home as collateral. Details include:<ul><li>Borrow between $1,000 and $750,000. In some cases, up to 97% of the value of your home</li><li>Interest rates between 2.8% and 18%</li><li>Your home is always at risk of repossession if you don’t keep up the payments on a HELOC</li></ul> <ul><li>Refinancing</li></ul>SuperMoney offers refinancing options on auto loans, mortgages, and student loans. So if you’re struggling with your current interest rates and repayment plans, or just think you can get a lower interest rate, SuperMoney could help you out. As with all products on offer, there’s a large variance in what you can get.<ul><li>A minimum credit score of 500 is needed</li><li>Refinance on amounts from $1,500 to $150,000</li><li>Interest rates from 1.99% to 27.99%</li><li>No origination fees on any refinancing lenders</li></ul> <ul><li>Non-loan options</li></ul>SuperMoney isn’t just a loan comparison service. It has a large number of non-loan related financial service options available too. However, some products can be a bit potluck in terms of what you get. For example, SuperMoney has a good list of credit card comparisons, but very few checking account options under its list of banking partners. Services include:<ul><li>Banking services - Including comparisons of the best checking and savings accounts</li><li>Credit card comparisons - A good range of business, personal and prepaid card options</li><li>Debt help - SuperMoney can put you in touch with debt counseling firms and debt settlement companies</li><li>Insurance comparisons - SuperMoney really excels here. It has a great range of home, life, auto, mobile and travel insurance options on offer</li><li>Wealth management options - If you’ve ever fancied dabbling in the stock market, SuperMoney has some options for you to compare. Choose from brokers willing to invest as little as $100 to ones looking for big money investments running into the millions</li><li>Tax advice - SuperMoney has a range of tax advisor partner firms to help with filing both state and federal tax returns</li></ul><h2>&nbsp;Key advantages of SuperMoney</h2>SuperMoney’s biggest advantage by far is the enormous range of products and services on offer. It’s slowly becoming a one-stop-shop for just about every different type of loan you can think of while adding to its range of additional financial services all of the time.With such a good range of partner lenders, you’re almost certain to find a loan for you. With some loans requiring no credit rating at all and starting from just $100, you could use them as a smart way to build your credit.<h2>Key disadvantages of SuperMoney</h2>Sometimes having so many lenders to choose from can be a little confusing. The rates you see on the SuperMoney website may not necessarily be the rates you’ll be paying. This means it can sometimes be difficult to know exactly what you're getting until you contact the lender directly.SuperMoney doesn't offer any support once you’re signed up to a lender. In fact, it’s quite difficult to contact and doesn’t make the options clear. Once you’re signed up to a lender, you’ll need to send any queries to them.<h2>Summary</h2>SuperMoney is definitely one of the better loan comparison sites out there. It’s free to use and getting quotes won’t affect your credit rating. It’s a great starting point if you’re looking for a loan, and the large number of services and options on offer far outweigh the minor issues.