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This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

AUTOPAY Car Loans Review

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Est. APR
1.955-17.99%
Max loan
$100,000
Months term
24-84

Overview

AUTOPAY is a corporation that assists customers in refinancing their auto loans. It collaborates with a large number of trustworthy lenders, including credit unions and financial organizations. Customers can use its friendly website to compare rates and terms from lenders across the country. All candidates must undergo a mild credit check, and loans are available for all credit ratings. AUTOPAY loans have saved consumers an average of $95 per month.

Cars Direct Types and Terms

Car loan types Loan Refinancing, New Car Loans, Traditional Refinancing, Cashback Refinancing, Lease Payoff Refinancing
Loan amount $2,500 – $100,000
Repayment terms 24, 36, 48, 60, 72, and 84 months
APR 1.955-17.99 %
Minimum credit score 560
Lender type Marketplace
Good for:
  • Online rate comparison & application
  • Customizable payment deadlines
  • Deferred payments
  • Joint loans

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AUTOPAY is Good For:

People with no credit, bad credit, and records of bankruptcies are viable for loans at CarsDirect. The company has dealers who structure a loan suited to such cases and ensure that you get financed based on your situation.

AUTOPAY Pros

  • Many lenders and options are available.
  • A wide range of loan amounts is available, ranging from $2,500 to $100,000.
  • Low initial interest rate
  • Offers pre-qualification with a soft credit check.

AUTOPAY Cons

  • The loan eligibility varies depending on the lender.
  • An initial deposit may be required.
  • It takes 24-48 hours for a loan to be approved, which is longer than other lenders.
  • It may take 1-2 weeks for a loan to be funded, which is longer than other lenders.

Application Process

The application process is simple and does not require filling out numerous paperwork. AUTOPAY allows you to apply for pre-qualification online or over the phone.

On the AUTOPAY website:

  • Click Apply Now.
  • Select whether you’re applying alone or with a co-borrower.
  • Are you buying a new car or refinancing an existing loan.
  • Choose if you want to buy from a dealer, a private seller or buy out your lease if you’re taking out a new loan.
  • Choose if you wish to cut your monthly payment, lower your rate, or remove someone from the loan when refinancing.

To discover a car refinance on AUTOPAY, start by filling out an online pre-qualification form on the company’s website. You will be asked to provide:

  • A few lenders in the network charge an origination fee. The amount isn’t specified and is to be determined by the lenders.
  • Personal Information: Name, email, phone number, date of birth, and address are examples of personal information.
  • Financial data: Gross annual income and monthly housing costs.
  • Vehicle details: Year, Make, Model, Trim options, payback amount, and mileage of the vehicle

Autopay shares prospective offers with you based on your information. All offers are valid for 30 days. If you find one you like, you can apply, which will result in a hard credit pull. A hard credit pull can have a minor negative effect on your credit report, but it is a standard procedure for obtaining financing from practically any lender. The lender may request a copy of the following documents:

  • Drivers License
  • Vehicle insurance
  • Pay stubs or a tax return are both acceptable sources of information.
  • Utility bill or lease agreement
  • Payoff letter

If your application is accepted, the organization will work with you closely to finish the entire auto loan refinancing procedure, from paperwork to the title transfer. Customers with fair or low credit may not be able to acquire the best interest rates, which means their monthly payment and total interest paid would be much more significant.

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Terms & Requirements

Getting a car loan from AUTOPAY can be a straightforward process. There are some requirements to meet before applying for an Auto Loan:

Car Loan Requirements:

The customer must produce the verifications documents listed below:

  • Social Security Number
  • Driver’s License
  • Photo ID
  • Employment Information / Pay Stubs
  • Proof of Citizenship / Residence

The customer must:

  • Not necessarily be a citizen of the United States
  • Be 18 years of age and above
  • Show proof of income

The automobile considered for a loan must meet the following criteria:

  • Be under the age of ten.
  • Retains less than 150,000 mileage.
  • Be the borrower’s car, registered under their name.

Car Loan Terms:

AUTOPAY offers different types of loans:

  • Loan Refinancing
  • New Car Loans
  • Traditional Refinancing
  • Cashback Refinancing
  • Lease Payoff Refinancing

While AUTOPAY does not provide loans, it does act as a marketplace for more than 50 states. They act as a link between auto dealerships and suitable applicants seeking car loans.

Lenders determine their requirements based on expected annual percentage rates (APRs) ranging from 1.95 to 17.99 percent. Their loans often range from $2500 to $100,000. A credit score of 560 or higher is required to qualify for an auto loan. However, the best rates are usually reserved for individuals with exceptional credit (a FICO score of 690 and above).

Because AUTOPAY is merely a marketplace, lenders can set their restrictions and standards. As a result, only those with excellent or good credit are eligible for the best and most attractive deals (a score of 690 and above). If your credit score is negative, your interest rates may not be as good or favorable as you would imagine, which means your monthly payment and total interest charged will be higher and more unfavorable.

Repayment Terms

The lenders decide the payback conditions for customers who acquire financing through AUTOPAY. Repayment durations span from 24 to 84 months through the company’s network of partners. There’s no application fee or prepayment penalty so that you can pay off your loan early without a fee.

Privacy & Security

AUTOPAY is a BBB-accredited company with an A+ rating and a 4.13 out of 5-star aggregate rating based on 19 customer reviews. Despite a few negative reviews and concerns, many customers laud AUTOPAY for its responsive service, painless process, and informed attitude. Two of the company’s core principles are optimism and honesty, demonstrating its commitment to providing the most satisfactory possible service at the lowest possible cost.

AUTOPAY is keen on protecting customers’ information. They only share customers information to achieve some given purposes such as:

  • To handle transactions, administer account(s), respond to court orders and legal inquiries, and report to credit bureaus, among other things.
  • For marketing purposes.

The types of personal information AUTOPAY collects and shares depend on the product or service you have with them. This information may include:

  • Social Security number
  • income Account balances
  • payment history
  • checking account information
  • employment information

Customer Support

AUTOPAY offers customer care services through phone calls at (844)20276-3272 and can email them directly at sales@autopay.com. Their working hours are 7:00 a.m. to 7:00 p.m. Monday through Friday, and they are also available from 9:00 a.m. to 5:00 p.m. on Saturday.

Final Thoughts

If you’re looking for a new or used car, AUTOPAY has a variety of loan sizes, terms, and interest rates to choose from. AUTOPAY provides a high degree of customer care, a speedy application, and an effective matching mechanism. AUTOPAY is a good alternative if you’re seeking a variety of loan possibilities.

Address

1147 N Broadway
Denver, CO 80203

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Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.
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This review is based on the writer's personal opinion.