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Credit Direct
Auto loans 2023 review. Published 2023-01-01-01 00:00:00
Authored by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ins and outs of securely using loans to buy an automobile.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are committed to helping readers gain confidence to take control of their finances with concise, well-researched and well-studied content that breaks down otherwise complex subjects into digestible chunks.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by offering financial calculators and interactive tools that provide objective and original content. This allows users to conduct studies and compare information for free and help you make financial decisions with confidence. 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 site come from companies that compensate us. This compensation may impact how and when products are featured on this website, for example for instance, the sequence in which they appear in the listing categories and other categories, unless prohibited by law. Our mortgage home equity, mortgage and other home loan products. This compensation, however, does not influence the information we provide, or the reviews appear on this website. We do not include the entire universe of businesses or financial offerings that could be open to you.




About our reviews Editorial disclosure Reviewers are supervised by staff. The opinions expressed in them are only those of the reviewer and have not been reviewed or approved by any advertiser. The information such as rates and charges provided in the review is accurate up to the date that the review was written. Look over the information in the upper right hand corner of the page as well as the lender's site for the most recent information.








A quick glance 4.0 Rating 4 stars out five
Bankrate Score

Rating of Availability: 3.5 stars out of 5
The Affordability Score: 3.4 stars out of five
Customers Experience Score: 3.8 five stars of five
Transparency Rating: 5 stars out of 5


Find out about rates on auto loan rates

About Credit Direct Loan amount of $1,000 to $40,000
Min. credit score not specified
APR from 5.99%-29.99 percent
Funds are available within 48 to 72 hours



Credit Direct pros and cons Credit Direct's personal loans for purchases of cars are available to borrowers with varying financial backgrounds and are able to be prequalified and not affect your score on credit. Still, their availability is restricted to a few states.
PROS Flexible loan amounts
No specific inquiry
The acceptance criteria can be varied.

CONS Only available in 11 states
Maximum loan amount of a small amount loan amount





Credit Direct is a personal loan marketplace that provides loans both directly and through its reliable partner network to borrowers looking for loans. The vehicle purchase loans offered through Credit Direct have a lower minimum loan amount than the majority of lenders of the other lenders, making them ideal for those looking to finance a smaller purchase. The loans are not secured, meaning that the rates of interest advertised tend to be a bit higher.
Do you qualify? Credit Direct doesn't specify eligibility requirements on its website or by phone. However, it does state that applicants with all levels in credit score are welcome to apply, and you might be approved if you score is between 500 to 600. It is also necessary to have a reliable, steady source of income which allows you to pay your monthly payments. What we like and what we do not like? Think about the risks and advantages that an loan with Credit Direct brings.
What we like Flexibility: Drivers can get loans of as little as $1000 which is ideal for purchasing a car in poor condition for parts. Plus, you'll have the car for free as it's . A no-hassle inquiry can look at potential rates and conditions without having to go through an actual credit test. Range of acceptance criteria: Credit Direct uses underwriting criteria that take more than just credit history into consideration. We are not happy with the lack of state availability Credit Direct's personal loans are only available within 11 states. Small maximum loan sum: A loan amount of just $40,000 won't even cover the average , which exceeded $48,000 in the latter half of 2022. How do I contact Credit Direct Credit Direct Credit Direct offers limited support 24 hours a day via its contact center at 866-414-4198. Full service is available during its normal working hours, which are 9 a.m. until 6 p.m. ET Tuesday through Thursday, and 9 a.m. to 5 p.m. ET for Fridays.
Auto loan kinds offered Credit Direct provides personal loans which are used to purchase used or new vehicles.

Loan quick facts Amounts: $1,000-$40,000 Terms: 12-60 months APR: 5.99%-29.99%


Credit Direct offers personal loans to repair or purchase vehicles. A car purchase personal loan via Credit Direct can be used to finance your next vehicle or purchase a new one to replace parts. This is different from a traditional auto loan that is based on the car you're buying. Its minimum loan amount is much less than the majority of other auto loan companies, meaning you don't have to borrow more than you need. Also, you'll have the option to take your cash to the dealer of your choice. How do you apply for an loan with Credit Direct The application process is fully automatic via the Credit Direct site and takes just minutes and requires no inquiry. Based on Credit Direct's Credit Direct website, the process is straightforward and you will receive funding as soon as 48-72 hours with direct deposit. Select loan amount. Fill in the online form with all the essential information needed to verify your expected rates. Review loan options. In just a few just a few minutes Credit Direct will present you with varying loan options to look over. Be attentive to the APR and length of term. Sign and accept. If you feel that the loan offers meet your needs, you can finalize the loan on the internet. You will receive the funds. Finally, you will receive the funds through direct deposit.
The information required for application is Social Security number Vehicle information Amount of loan Two months of statement from banks One month's pay stubs. Most recently issued W2 government ID


Credit Direct FAQs
Is Credit Direct a direct lender or does it issue loans through third parties? Credit Direct both originates personal loans and relies on its lender network to assist borrowers in finding the most affordable deal.



Can you use co-signers when you apply with Credit Direct? Yes, co-signers can be included in loan applications to help or get more favorable terms.



Does Credit Direct do a hard pull? A hard credit check is only necessary if you agree to the loan offer and proceed with a formal application. You can however, look up possible rates using , which won't impact the credit rating.



What rates do Bankrate offer Credit Direct
Overall score
4.0
The availability
3.8
Credit Direct only offers loans in 11 states. Its low max loan amount is compensated by flexible terms and a modest minimum amount.
Affordability
3.4
Credit Direct scores decently due to its flexible underwriting criteria but still holds steep APRs compared to competitors.
Customer experience
3.6
Although there is a limited 24-hour customer support via the call center customers are able to contact the center for assistance during working hours.
Transparency
5.0
Credit Direct discloses expected rates and conditions and encourages prequalification.


Methodology Bankrate considers 18 data points when choosing the best auto loans. Acceptance criteria, the rates or fees offered and APR range all influence lender scores. These scores are broken up in four different categories. The availability of loans as well as repayment options, dealer requirements, and availability in the state all contribute to this category. Accessibility: This section includes APR ranges, acceptance criteria, discounts and fees. Customer experience: The length of time you have to shop and the availability of customer service as well as whether an app is available and autopay availability are accounted within this segment. Transparency: This category accounts for the accessibility of rates and fees as well as whether or not prequalification is offered.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. The opinions expressed in the review are only those of the reviewer , and have not been reviewed or accepted by any advertiser. The information that is included, including rates and fees that are included in the review is correct up to the date when the review first appeared. Review the data at the top of this page, and the lender's website for the most recent details.




Written by
Rebecca Betterton
Auto Loans Reporter


Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers in navigating the details of using loans to buy a car.
The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate from late 2021. They are dedicated to helping readers gain the confidence to control their finances by providing precise, well-studied data that breaks complicated subjects into digestible pieces.






Auto loans editor










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