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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 media 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

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 committed to helping readers gain the confidence to control their finances through providing concise, well-researched, and clear information that breaks down otherwise complex subjects into bite-sized pieces.

Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering you interactive tools and financial calculators that provide objective and unique content, by enabling users to conduct research and compare data for free and help you make sound financial decisions. Bankrate has partnerships with issuers such as, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make money The products that are advertised on this website are provided by companies who pay us. This compensation can affect the way and where products are displayed on this website, for example for instance, the order in which they may be listed within the categories of listing and other categories, unless prohibited by law for our mortgage, home equity and other home loan products. However, this compensation will have no impact on the information we provide, or the reviews that you see on this site. We do not include the entire universe of businesses or financial deals that could be accessible to you.

About our reviews . Editorial disclosure: All reviews are prepared by our staff. The opinions expressed in them are only the opinions of the reviewer and are not reviewed or approved by any advertising company. The information, including rates and fees provided in the review is accurate at the time that the review was written. Check the data in the upper right hand corner of the page, and the lender’s website to find the most current information.

A glance 4.2 rating: 4.2 stars out of 5

Bankrate Score

Available Rating: 4.5 stars out of 5

Affordability Rating: 3.6 stars out of 5

Customer Experience Rating: 4 stars out of 5

The Transparency Score: 4.5 stars out of 5

Compare rates for 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 of Autopay auto loans to consider before applying.

PROS Convenient

Application that is streamlined

No credit score is required for perfect credit.

CONS Lack of transparency about maximum APR

Down payment

No purchase made previously

Autopay can be described as an internet-based lending marketplace that assists consumers in finding the most affordable car loan financing. It allows you to view loan offers from lenders within their network in minutes without impacting your score. If you find a match, the process is simplified, allowing you to swiftly approve your new auto loan with no stress.

Do you qualify? Autopay does not provide specific lending requirements through its web site. However, you’ll need provide specific details about your vehicle when you apply for a loan with an lender to be approved in full. Or you can get prequalified within a matter of minutes by using the online application to see potential loan offers. The application is easy to fill out and being prequalified won’t impact the credit rating of your prospective lender. What we love and what don’t like Consider these benefits and disadvantages of an auto loan using Autopay before signing off on the application.

What we love about Autopay is that it’s convenient. You can look into loan options from a variety of banks or credit unions as well as online lenders all at once without harming the credit rating. A streamlined application process: Autopay features a simplified application procedure that helps you get the best deal on the new car loan within a lesser amount of time it’s going to take at the dealership or at the bank. Credit score not necessary: You could qualify for an auto loan by an auto lender in the Autopay network even having less than perfect credit. We don’t like the lack of transparency around APR maximum: The minimum interest rate of 2.99 percent advertised on the site is only accessible to people with good credit. A down payment is required for some applicants. need cash down in order to secure a new car loan. However, down payments generally don’t have to be made to be used for car loan refinancing. Don’t make purchases that are used: If you’re looking to purchase a second-hand car then you’ll need to look elsewhere. Contact information for Autopay If you’re thinking of applying to get an auto loan with Autopay go to the website to make an online request or reach the customer service via telephone. Support is available Monday through Friday, from 7 a.m. to 7 p.m. MST and on Saturdays from 9 a.m. until 5 p.m. MT. You can also reach an agent via text message.

Auto loan types offered The lenders in the Autopay network provide new car loans and three different types of refinancing.

New and used cars loans

Loan quick facts Amounts: $2,500-$100,000 . Terms: 2496 months APR: Beginning at 2.99 percent

If you’re looking for a new car You can partner with Autopay to find the perfect auto loan to suit your budget. With prequalification, it lets you shop with confidence at the dealership and not sit in line waiting for the finance department to approve the loan. The Autopay team supports applicants through the application process. Traditional refinancing

The loan amount is $2,500-$100,000 . Terms: 2496 months APR: Starting at 2.99%

Whether you want to lower your monthly auto loan payments or secure lower interest rates, refinancing with an autopay lender within the Autopay network can assist you in reaching your goal. It is also possible to take this route to shorten your loan time frame and pay off your car loan more quickly. Cash out refinancing

Quick facts about loans: $2,500 to $100,000 Terms: 24-96 months APR: Beginning at 2.99 percent

If you’re looking to take advantage of your vehicle’s equity, refinancing with cash-back might be an alternative. You can receive up to $12,000 in cash , and use the funds however you like. Certain borrowers choose to pay off high-interest debt and free up funds for other financial objectives. Lease buyout

The loan amount is $2,500-$100,000 . Terms: 2496 months APR: Starting at 2.99%

This financing option could help you when the lease period is over. Or you could take the lease off early. Plus, you can avoid excess mileage fees in the event that you’ve exceeded the maximum set in the lease agreement. How do you apply for an auto loan using Autopay After you have gathered the required documents, you need to fill out the application form. This form does not require a credit check. Autopay will shop your information to lenders in its network and present potential auto loan deals to applicants if there’s an agreement. If you choose to proceed, the lender will check your credit report and scrutinize documents supporting it before granting approval.

The required information for your application is Driver’s License Insurance proof in income residence A payoff letter (if refinancing) Additional documents as needed to ensure your lender match

FAQs on Autopay

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

Are you able to apply with co-applicants to boost your odds of approval? Yes, Autopay allows applicants to to strengthen their approval odds. The person you are adding should have a strong credit history and a consistent, verifiable source of income to provide the best chances to be approved.

Do Autopay provide vehicle service contracts for borrowers? Yes, you can buy the service contract for your vehicle when you apply for a fresh loan or refinance your existing one. This type of insurance can prevent you from incurring hefty maintenance and repair costs. Certain vehicle service contracts provide roadside assistance.

What rates do Bankrate charge Autopay?

Overall score




Autopay’s vast network of lenders provides extensive coverage of loan amounts, availability to states and conditions. It also doesn’t have dealership limitations.



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


Autopay provides customer support seven days a week, complete online access, and a shopping time of 30 days, earning it a higher customer service score.



Fees and rates are only accessible on Autopay’s website in part, but prequalification availability bumps its score.

Methodology Bankrate considers 18 data points when deciding on the top auto loans. Criteria for acceptance, whether rates and fees are readily available and the APR range are all factors that affect lender scores. These scores are broken up into four categories. The availability of loans as well as repayment options, dealer requirements and state availability all contribute to this category. Affordability: This section houses APR ranges and acceptance criteria, as well as fees and discounts. Customer experience: The length of time you’re required to shop, customer service availability, whether you have an app or autopay option are accounted for in this section. Transparency: This category is responsible for the availability of fees and rates and the availability of prequalification.

Editorial disclosure: All reviews are prepared by staff. The opinions expressed are solely the opinions of the reviewer and have not been reviewed or acknowledged by any advertiser. The information, including rates and fees provided in the review is correct up to the date when the review first appeared. Check the data at the top of this page, and the lender’s site for the most up-to-date information.

Written by

Allison Martin

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 media outlets including The Wall Street Journal, MSN Money, MoneyTalksNews , Investopedia, Experian and

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

Rhys has been editing and writing for Bankrate since late 2021. They are committed to helping readers feel confident to control their finances by providing clear, well-researched information that breaks down otherwise complex topics into manageable bites.

Auto loans editor



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