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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, and she's since been featured in numerous prestigious financial outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are committed to helping readers gain the confidence to manage their finances with concise, well-researched, and clear information that break down complex topics into digestible chunks.









Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by offering you interactive tools and financial calculators as well as publishing objective and original content, by enabling users to conduct research and compare information for free - so that you can make informed financial decisions. Bankrate has agreements with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn money The products that are advertised on this website are provided by companies that pay us. This compensation could affect how and where products appear on the site, such as, for example, the sequence in which they be listed within the categories of listing in the event that they are not permitted by law. Our mortgage, home equity and other products for home loans. But this compensation does affect the information we provide, or the reviews you see on this site. We do not cover the universe of companies or financial offers that may be accessible to you.




About our reviews Editorial disclosure The reviews are written by staff. The opinions expressed in them are only those of the reviewer and are not reviewed or accepted by any advertiser. The information such as rates and charges provided in the review is accurate as of the date when the review first appeared. Look over the information in the upper right hand corner of the page and the lender's site for the most current details.








At a glance 4.2 rating: 4.2 stars out of five
Bankrate Score

Rating of Availability: 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 five


Compare rates for auto loan rates


Autopay Loan amount: $2,500 to $100,000.
Min. credit score Not specified
APR from 2.99%
Funds available as little as one business day



Autopay Pros and Cons There are many benefits and drawbacks to Autopay auto loans to take into consideration prior to applying.
PROS Convenient
Streamlined application
No credit score is required for perfect credit.

CONS Lack of transparency about APR maximum
Down payment
No purchase made previously





Autopay can be described as an internet-based marketplace for loans which helps customers find the best price on car loan financing. You can look up potential loan offers from lenders in their network in minutes without impacting your credit score. If the offer is a good match, the application process is streamlined so you can quickly finalize your new auto loan without any hassle.

Do you qualify? Autopay does not specify requirements for lending through its web site. However, you will need to provide specific information about your vehicle when you formally apply with the lender for approval. Prequalification can be obtained within a matter of minutes by using the online application to see the possibility of loan offers. The application is easy to complete, and getting prequalified will not impact your score on credit. What we like and what we don't think we like. Take a look at these advantages and disadvantages of an auto loan with Autopay prior to signing an application.
What we love about Autopay is that it's convenient. You can look into loan options from multiple banks, credit unions and online lenders all in one place without hurting the credit rating. Streamlined application process: Autopay features a simplified application process designed to help you secure your next auto loan in just a fraction of the time it would require at the dealership or at the bank. Credit score not necessary: You may be eligible for an auto loan with a lender within Autopay's Autopay network even having less than perfect credit. We are not a fan of the lack of transparency regarding the maximum APR: The minimal rates of 2.99 percent as advertised on the website is only offered to borrowers with excellent credit. A down payment is required for some applicants. must put cash down to get a car loan. However, down payments generally don't have to be made for auto loan refinancing. No used purchases If you're trying to purchase a second-hand car it's best to look elsewhere. Contact information for Autopay If you're looking to apply for an auto loan through Autopay go to the site to submit an online inquiry or call Customer Service by phone. Customer service is available Monday to Friday, from 7 a.m. to 7 p.m. MT and Saturday from 9 a.m. until 5 p.m. MST. You can also reach the customer service representative through text messages.
Auto loan types offered The lenders of the Autopay network provide new car loans as well as three kinds of refinancing.
New and used cars loans
Loan quick facts Amounts: $2,500-$100,000 Terms: 24-96 months APR: Starting at 2.99 2.9%


If you're looking for a new car and want to get a new car, you can use Autopay to find the ideal auto loan that fits your budget. With prequalification, it lets you shop with confidence at the dealership and not sit in line for the finance department to accept your loan. The Autopay team supports applicants through the application process. Traditional refinancing
Loan quick facts Amounts: $2,500-$100,000 Terms: 24-96 months APR: Starting at 2.99 percent


If you're looking to cut the amount of your auto loan payments or secure a lower interest rate, refinancing through a lender within the Autopay network could aid you in achieving your goals. You could also take this route to cut down the loan time frame and pay off your auto loan quicker. Refinancing cash out
Loan quick facts Amounts: $2,500-$100,000 Terms: 24-96 months APR: Starting at 2.99%


If you're looking to take advantage of your vehicle's equity, cash-back refinancing might be an option. You could receive up to $12,000 cash and make use of the funds as you want. Some people choose to pay off debts with high interest and free up funds 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. You could also pay off your lease early. Additionally, you'll be able to avoid excess mileage fees if you've exceeded the limit stipulated in the lease contract. How to apply for Autopay's loan using Autopay After gathering the necessary documents, you need to fill out the application form, which doesn't require a credit check. Autopay will shop your information to lenders within its network and present potential auto loan offers to you if there's a match. If you choose to proceed then the lender will take a look at your credit and go over the supporting documents prior to granting full approval.
Documents required for application Driver's license Insurance proof in income residency A letter of payment (if refinancing) Additional documents that are required to ensure your lender match


Autopay FAQs
Do you require good credit to qualify for a loan with Autopay? Some lenders in Autopay's extensive network cater to borrowers who have lower credit scores. Generally, good or excellent credit is required to obtain the most favorable rate on auto financing.



Do you have to submit co-applicants to boost the chances of being approved? Yes, Autopay allows applicants to increase their chances of approval. The person you add should have a strong credit history and a steady, reliable source of income in order to give you the best chance to be approved.



Do Autopay offer vehicle service contracts for customers? Yes, you are able to purchase the service contract for your vehicle when you apply for the new loan or refinance an existing one. This form of protection helps keep you from having to pay for costly repairs and maintenance costs. Some service contracts for vehicles also include roadside assistance.



What rates do Bankrate charge Autopay?
Overall score
4.2
The availability
4.5
Autopay's extensive network of lenders allows for wide coverage in the areas of loan amounts, availability in states and terms. Additionally, it doesn't have dealer restrictions.
Affordability
3.6
The affordability of Autopay will differ according to the lender you're matched to and this means Autopay tends to be in mid-range.
Customer experience
4.0
Autopay provides customer support seven days a week, full online access and a purchase time of 30 days, giving it a better customer satisfaction score.
Transparency
4.5
Fees and rates are partially available on Autopay's website, but prequalification availability bumps the score.


Methodology Bankrate considers 18 data points when selecting top auto loans. Criteria for acceptance, whether rates and fees are available and the range of APR all affect lender scores. The scores are divided into 4 categories. The availability of loans and repayment options, dealership requirements and state availability all play a role in this section. Affordability: This section houses APR ranges, acceptance criteria, discounts and fees. Customer experience: How long you have to shop, the customer service accessibility, whether there's an app or autopay available are covered by this segment. Transparency: This category is responsible for the accessibility of rates and fees as well as whether prequalification is available.
Disclaimer: All reviews are prepared by Bankrate.com staff. The opinions expressed in the review are only the opinions of the reviewer and are not reviewed or acknowledged by any advertising company. The information, including rates and fees provided in the review are accurate up to the date when the review first appeared. Look over the information at the top of this page as well as the lender's website for the most up-to-date details.




Written by
Allison Martin


Allison Martin's career began more than 10 years prior to that as a digital content strategist. She's been published in several leading financial media outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and Credit.com.
Edited by 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 precise, well-researched and detailed information that breaks down complicated topics into manageable bites.






Auto loans editor










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