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Autopay
Autopay 2023 Auto Loan Review Published 2023-01-01 00:00:00
Written by Allison Martin Written by

Allison Martin's work started over 10 years prior to that as a digital content strategist, and she's since been published in several leading financial publications, including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are passionate about helping readers gain confidence to control their finances with concise, well-researched, and clear information that breaks down complicated topics into manageable bites.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make smarter financial decisions by providing you with interactive financial calculators and tools that provide objective and unique content. We also allow you to conduct your own research and compare data for free to help you make informed financial decisions. Bankrate has partnerships with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this website are provided by companies that compensate us. This compensation could affect how and where products appear on this site, including such things as the order in which they may appear in the listing categories in the event that they are not permitted by law for our mortgage or home equity products, as well as other home lending products. But this compensation does have no impact on the information we provide, or the reviews appear on this website. We do not cover the entire universe of businesses or financial offers that may be available to you.




About our reviews Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely the opinions of the reviewer and have not been reviewed or approved by any advertising company. The information that is included, including rates and fees, presented in the review are accurate as of the date of the review. Review the data on the right and the lender's website to find the most recent details.








At a quick glance 4.2 Score: 4.2 stars out of 5
Bankrate Score

Rating of Availability: 4.5 stars out of 5
Affordability Rating: 3.6 stars out of 5
Customer Experience Rating 4 stars out of 5.
Transparency Rating: 4.5 stars out of 5


Compare rates for auto loan rates


Autopay Loan amount: $2,500 to $100,000.
Min. credit score Not specified
APR as low as 2.99%
Funds are available in as just one day



Autopay Pros and Cons There are a few key advantages and drawbacks to Autopay auto loans to think about before applying.
PROS Convenient
Application that is streamlined
No credit score is required for perfect credit.

CONS Lack of transparency about APR maximum
Down payment
Purchase not used





Autopay is an online lending marketplace that helps consumers find the best price on auto loan financing. You can look up potential loan deals from lenders on their network in minutes without affecting the credit rating. If you find a match, the process is streamlined so you can easily close your auto loan without any hassle.

Do you qualify? Autopay does not specify requirements for lending through its web site. However, you'll need to provide specific vehicle details when you submit a formal application to a lender to be approved in full. Prequalification can be obtained in minutes using the online form to look at potential loan offers. The application is easy to fill out and being prequalified won't impact your credit score. What we love and what do not like. Consider the benefits and disadvantages of an auto loan with Autopay prior to approving an application.
What we love about Autopay is that it's convenient. You can explore loan alternatives from various banks as well as credit unions, and online lenders all in one place without hurting the credit rating. Streamlined application process: Autopay features a simplified application procedure that helps you secure your new auto loan in a less time than it's going to require at the bank or dealership. Perfect credit not required: You can get an auto loan through an auto lender in the Autopay network even having less than perfect credit. What we don't like Lack of clarity regarding maximum APR: The minimum APR of 2.99 percent that is advertised on the site is only accessible to borrowers with excellent credit. A down payment is required for some applicants. need cash down in order in order to secure a new vehicle loan. However, down payments generally aren't necessary for automobile loan refinancing. For used items If you're planning to buy a used vehicle, you'll have to shop elsewhere. How to contact Autopay If you're interested in applying to get an auto loan using Autopay, visit the site to submit an online inquiry or call Customer Service by telephone. Customer support is available Monday through Friday, from 7 a.m. to 7 p.m. MT and Saturday from 9 a.m. to 5 p.m. MST. You can also connect with a representative via text message.
Types of Auto loan kinds offered The lenders within the Autopay network provide new car loans and three different types of refinancing.
Used and new car loans
The loan amount is $2,500-$100,000 . Terms: 2496 months APR: Starting at 2.99 percent


If you're in the market for a new ride, you can work with Autopay for help in finding the best auto loan for your financial situation. Having prequalification in hand lets you shop confidently at the dealer and not sit around waiting until the department of finance to accept the loan. The Autopay team is there to help applicants through the application process. Traditional refinancing
Loan quick facts Amounts: $2,500 to $100,000 Terms: 24-96 months APR: Beginning at 2.99 2.9%


If you're looking to cut the amount of your auto loan payments or secure lower interest rates, refinancing with a lender through the Autopay network may assist you in reaching your goal. It is also possible to take this route to shorten the loan duration and to pay off your car loan faster. Refinancing cash out
Quick facts about loans: $2,500 to $100,000 Terms: 24-96 months APR: From 2.99 2.9%


If you're planning to draw on your vehicle's equity, cash-back refinancing might be an option. You can get up to $12,000 in cash and utilize the money however you want. Certain borrowers choose to pay off high-interest loans and make money available for other financial goals. Lease buyout
Quick facts about loans: $2,500 to $100,000 Terms: 24-96 months APR: From 2.99 percent


This financing option can aid you in the event that the lease term is up. It is also possible to pay off your lease early. In addition, you'll avoid excess mileage fees when you've exceeded the mileage limit stipulated in the lease contract. How do you apply for Autopay's loan with Autopay After gathering the necessary documents, you can fill out the Autopay application form. This form does not require a hard credit check. Autopay will compare your details to lenders within its network and will present possible auto loan deals to applicants if there's an agreement. If you decide to move forward then the lender will pull your credit report and scrutinize documents supporting it before granting approval.
Required application information Driver's license Proof of insurance Proof in income residency A letter of payment (if refinancing) Additional documents required to ensure your lender match


Autopay FAQs
Do you require good credit to get a loan through Autopay? Some lenders in Autopay's extensive network are able to accommodate borrowers with less credit scores. Generally, good or excellent credit is needed to secure the best deal on auto financing.



Are you able to apply with an additional co-applicant in order to improve the chances of being approved? Yes, Autopay allows applicants to improve their odds of approval. The person you choose to add have a good credit score and a consistent, verifiable source of income to give you the best chance of being approved.



Does Autopay offer service contracts for vehicles to the borrowers? Yes, you can buy a vehicle service contract when you take out a new loan or refinance your existing one. This kind of protection can prevent you from incurring hefty maintenance and repair costs. Certain vehicle service contracts include roadside assistance.



How do you know if Bankrate rates Autopay?
Overall score
4.2
The availability
4.5
Autopay's vast network of lenders gives it extensive coverage of loan amounts, state availability and terms. Additionally, it doesn't have dealer restrictions.
Affordability
3.6
The cost of financing will be based on the lender you're matched to, which means Autopay is in the middle of the road.
Customer experience
4.0
Autopay provides customer service seven days a week, full online access, and a shopping period of 30 days, giving it a better customer satisfaction score.
Transparency
4.5
Fees and rates are only partially accessible on Autopay's site, but prequalification availability bumps the score.


Methodology Bankrate considers 18 data points when deciding on the top auto loans. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are split into 4 categories. Accessibility: Loan amounts and repayment options, dealership requirements, and availability in the state all contribute to this section. Affordability: This section contains APR ranges and acceptance criteria, as well as discounts and fees. Customer experience: The length of time you're required to shop, customer service availability, whether there's an app or autopay available are accounted for by this segment. Transparency: This section accounts for the accessibility of rates and fees and whether or not prequalification is offered.
Disclosure of author Reviewers are supervised by Bankrate.com staff. The opinions expressed are solely the opinions of the reviewer and have not been evaluated or acknowledged by any advertising company. The information, including rates and fees that are included in the review is accurate up to the date when the review first appeared. Check the data in the upper right hand corner of the page, and the lender's site for the most recent details.




Written by
Allison Martin


Allison Martin's work began over 10 years ago as a digital content strategist. She's been featured in numerous prestigious financial publications, including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.
Editor: Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping their readers feel confident to manage their finances through providing concise, well-researched, and well-researched content that break down complex subjects into bite-sized pieces.






Auto loans editor










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