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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 career began more than 10 years ago as a digital content strategist. She's been featured in numerous prestigious financial outlets such as The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since the end of 2021. They are passionate about helping readers gain the confidence to control their finances through providing precise, well-researched and well-researched content that break down complex topics into manageable bites.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by offering you interactive financial calculators and tools as well as publishing objective and original content, by enabling users to conduct research and compare data for free and help you make financial decisions with confidence. Bankrate has partnerships with issuers such as, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The deals that are displayed on this website are provided by companies who pay us. This compensation could affect how and where products appear on the site, such as, for example, the order in which they may appear within the listing categories, except where prohibited by law. This applies to our mortgage or home equity products, as well as other home loan products. However, this compensation will not influence the information we publish, or the reviews appear on this website. We do not cover the vast array of companies or financial deals that could be available to you.




About our reviews Editorial disclosure: All reviews are prepared by our staff. Opinions expressed therein are solely those of the reviewer , and have not been evaluated or approved by any advertiser. The information that is included, including rates and fees that are included in the review is accurate up to the date of the review. Review the data in the upper right hand corner of the page as well as the lender's website for the most current details.








A quick glance 4.2 rating: 4.2 stars out of five
Bankrate Score

Availability Rating: 4.5 stars out of 5
The Affordability Score: 3.6 stars out of 5
Customer Experience Rating 4 stars out of 5.
A rating of transparency: 4.5 stars out of 5


Compare auto loan rates


About Autopay Loan amount $2,500-$100,000.
Min. credit score Not specified
APR as low as 2.99%
Funds available as only one business day



Autopay Pros and Cons There are a few key advantages and drawbacks to Autopay auto loans to consider before applying.
PROS Convenient
Streamlined application
Credit score not necessary

CONS Lack of transparency around the maximum APR
Down payment
Purchase not used





Autopay offers an on-line marketplace for lending which helps customers find the best deal on auto loan financing. You can view potential loan offers from lenders in their network in a matter of minutes without affecting the credit rating. If the offer is a good match, the process is simplified, allowing you to swiftly approve your new auto loan with no hassle.

Do you qualify? Autopay does not specify requirements for lending through its web site. However, you will need to provide specific vehicle details when you apply for a loan with the lender to receive full approval. Prequalification can be obtained within minutes by filling out the online application to see potential loan offers. It's easy to complete, and getting prequalified will not affect your score on credit. What we love and what don't think we like. Take a look at these advantages and drawbacks of Autopay loan that comes with Autopay prior to signing an application.
We like the convenience: You can explore loan options from multiple banks, credit unions and online lenders at once without harming the credit rating. Streamlined application process: Autopay features a simplified application procedure that helps you secure your new auto loan in just a less time than it'd take at the dealership or bank. Perfect credit not required: You can get an auto loan with an auto lender in Autopay's Autopay network even when you don't have perfect credit. We don't like the lack of transparency regarding the APR maximum: The minimum interest rate of 2.99 percent as advertised on the website is only available to well-qualified borrowers with excellent credit. Down payment: Some applicants need cash down in order in order to secure a new vehicle loan. But, generally speaking, down payments don't have to be made to qualify for car loan refinancing. Don't make purchases that are used If you're trying to purchase a pre-owned vehicle then you'll need to look elsewhere. How to contact Autopay If you're looking to apply to get an auto loan with Autopay visit their site to submit an online inquiry or call Customer Service by telephone. Customer service is available Monday to Friday between 7 a.m. to 7 p.m. MST and on Saturdays between 9 a.m. until 5 p.m. (MT). You can also reach the customer service representative through text messages.
Auto loan varieties offered by the lenders within the Autopay network offer new car loans and three different types of refinancing.
Used and new car loans
Quick facts about loans: $2,500-$100,000 Terms: 24-96 months APR: Starting at 2.99 2.9%


If you're looking to buy a new car, you can work with Autopay in order to locate the perfect auto loan to suit your budget. Prequalification will allow you to shop with confidence at the dealership and not sit around waiting for finance departments to accept your loan. The Autopay team assists applicants throughout the process of applying. Traditional refinancing
Loan quick facts Amounts: $2,500 to $100,000 Terms: 24-96 months APR: Beginning at 2.99 percent


If you're looking to reduce the amount of your auto loan payments or secure a lower interest rate, refinancing with a lender through the Autopay network may aid you in achieving your goals. You can also go this route to shorten the loan term and to pay off your car loan quicker. Cash out refinancing
Quick facts about loans: $2,500 to $100,000 Terms: 24-96 months APR: Beginning at 2.99%


If you want to take advantage of your vehicle's equity, refinancing it with cash back is a possible alternative. You could receive up to $12,000 in cash , and use the funds however you see fit. Some borrowers opt to pay off high-interest loans and free up funds for other financial objectives. Lease buyout
The loan amount is $2,500 to $100,000 Terms: 24-96 months APR: From 2.99 percent


This financing option could assist you once the lease expires. You could also take the lease off early. Additionally, you'll be able to save on mileage charges in the event that you've exceeded the maximum stipulated in the lease contract. How to apply for an auto loan with Autopay After gathering the necessary documents, you need to fill out the application form. This form doesn't require a credit check. Autopay will search your data to lenders within its network and present potential auto loan offers to you in the event that there's an agreement. If you decide to pursue then the lender will pull your credit and review the supporting documents prior to granting full approval.
Required application information Driver's license Proof of insurance Proof that you earn income residence A payoff letter (if refinancing) Additional documents required by your lender match


Autopay FAQs
Do you require good credit to get a loan with Autopay? A few lenders in Autopay's large network offer loans to those with less credit scores. In general, excellent or good credit is needed to secure the most favorable rate for auto financing.



Are you able to apply with co-applicants to boost your odds of approval? Yes, Autopay allows applicants to increase their chances of approval. The person you add should have a strong credit history and a consistent, verifiable source of income to ensure the greatest chance to be approved.



Does Autopay offer service contracts for vehicles for customers? Yes, you can buy an auto service contract when you take out an entirely brand new loan or refinance your current one. This type of insurance can stop you from incurring costly repairs and maintenance costs. Some service contracts for vehicles also provide roadside assistance.



How do you know if Bankrate rates Autopay?
Overall score
4.2
Accessibility
4.5
Autopay's wide network of lenders allows for wide coverage in the areas of loan amounts, state availability and conditions. It also doesn't have dealership restrictions.
Affordability
3.6
The cost of financing will be according to the lender you're matched with, which means Autopay tends to be in mid-range.
Customer experience
4.0
Autopay offers customer service six days a week, full online access and a purchase period of 30 days, earning it a higher customer satisfaction score.
Transparency
4.5
Fees and rates are partially accessible on Autopay's site however, prequalification is a factor that boosts its score up.


Methodology Bankrate considers 18 data points when selecting top auto loans. Criteria for acceptance, whether fees and rates are offered and the APR range are all factors that affect lender scores. These scores are split into 4 categories. Availability: Loan amounts as well as repayment options, dealer requirements and state availability all contribute to this section. Affordability: This section houses APR ranges as well as acceptance criteria, discounts and fees. Customer experience: How long you'll need to spend shopping, customer service availability, whether you have an app and autopay availability are covered in this section. Transparency: This section accounts for the availability of fees and rates and whether prequalification is available.
Editorial disclosure The reviews are written by Bankrate.com staff. The opinions expressed are solely those of the reviewer and have not been evaluated or accepted by any advertiser. The information, including rates and fees provided in the review are 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 website for the most up-to-date information.




Written by
Allison Martin


Allison Martin's work started over 10 years ago as a digital content strategist. Since then, she's been featured in a variety of top financial media outlets, 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 passionate about helping readers feel confident to manage their finances through providing precise, well-researched and detailed information that breaks down complicated subjects into bite-sized pieces.






Auto loans editor










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