Auto Credit Express car loans review

Got bad credit — or no credit? This online service could connect you with an auto lender in your area.

First, do I qualify for an Auto Credit Express car loan?

Auto Credit Express is a referral source, not a lender. This means they don’t require you to meet specific eligibility criteria but rather general requirements lenders may have.

To take out an auto loan with a partner in its network, you’ll typically need to be:

• At least 18 years old.
• A current resident of the US or Canada.
• Employed full-time or able to prove a guaranteed fixed income of at least $1,500 a month.

What’s unique about Auto Credit Express?

Auto Credit Express isn’t a direct lender. Instead, it’s an online service that specializes in finding car loans for borrowers who have bad credit, no credit or simply trouble getting a loan because of a past bankruptcy. Auto Credit Express makes money by charging lenders to its partners to join the network, resulting in a free service for you.

A service like Auto Credit Express sounds helpful if you’re in a financial pinch, but it also narrows the pool you’re drawing from. Its network includes more than 1,000 lenders across the US and Canada, but borrowers complain that its options are limited in some states like California.

After you complete a quick online application, you’ll meet with an Auto Credit Express specialist to go over your options. This is helpful because lenders don’t like taking risks with subprime borrowers — or those with credit scores of under 620 — and interest rates are typically higher than average across the board. Because comparing minimum APRs won’t tell you much if you need a loan and have bad credit, an expert from Auto Credit Express could be a great asset.

What types of car loans does Auto Credit Express offer?

• Bad credit and bankruptcy auto loans. Auto Credit Express can help you find a car loan with banks, credit unions and other traditional lenders willing to work with you.
• Auto leasing loans. If you ever see yourself in a better future financial situation, consider leasing a car. Because you aren’t paying off the entire car cost, your payments might be smaller. And a down payment isn’t always required.
• Auto refinancing loans. Maybe you have a car loan but think you could get a better deal, even with a low credit score. Auto Credit Express could help you find a lender willing to refinance your loan at a stronger rate.
• Rent-to-own loans. Connect with dealers who can get you in a new car after you’ve made a down payment. You’ll typically repay the loan weekly or even biweekly before you’re the owner.
• Buy here, pay here loans. This in-house financing is drawn and signed on the lot without a credit check. Auto Credit Express’s network includes dealers offering these loans, but beware: They can come with astronomical interest rates and stiff penalties if you’re late or default.

What are the benefits?

• No credit requirement. Auto Credit Express may be able to find you a loan, even if you’ve filed for bankruptcy.
• Available nationwide. Your address won’t restrict your access to these loans. Auto Credit Express is available in all 50 states and Canada.
• Personal touch. A special finance manager can help you navigate your way through one of the trickiest lending markets in the US: subprime car loans.

What to watch out for

• Potentially high APRs. Because these loans are specialized for people with bad credit, interest rates may be higher than you’d find elsewhere.
• Income requirements. Although there’s no credit score requirement, you must make at least $1,500 to qualify for a car loan with Auto Credit Express.

What does the Internet say about Auto Credit Express?

Auto Credit Express’s online reviews are mixed. It’s been affiliated with the Better Business Bureau (BBB) since 2004 — quite a while for an online broker. BBB-affiliated companies meet certain transparency criteria and pledge to rectify customer complaints. The BBB also gives it an A+ rating, based on 27 customer reviews.

Trustpilot reviewers weren’t as kind: Nearly 250 reviewers gave it an average 7.6 out of 10 rating, with only 75% of reviewers rating it as “Excellent.”

The main complaint: People were discouraged by how many dealerships asked to meet with them only to turn them down. Others didn’t like how many local dealers were contacting them — another common complaint for car loan brokers.

If you decide to use Auto Credit Express or any other auto loan broker, be prepared to spend a substantial amount of time weeding through dealerships. And keep in mind that you might not find a good fit.

Here’s how you apply

1. Click the Go to site button on this page to go straight to Auto Credit Express’s website.
2. Click Apply now to view the online application form.

2. Enter your contact information and click Continue.
3. Follow the instructions to submit all required information.

After you submit your application, a call center representative will call you within 48 hours to set up an appointment with a special finance manager. Together, you’ll review your options to find a lender and car that fits your budget.

What documents do I need to apply?

• Government-issued ID. Such as your passport or driver’s license.
• Proof of residency. A recent piece of mail or a working phone number can be enough.
• Verification of your income. Be ready to show either your tax forms or pay stubs.

I got an Auto Credit Express car loan. Now what?

Once you’re offered and accept a loan, stay on top of your payments to avoid stiff fees and penalties.

• Set up autopay. Never miss a payment again with automatic withdrawals from your bank account.
• Customer service. Get in touch with Auto Credit Express via phone or by completing an online contact form. Once you’ve accepted a loan, get your auto dealer’s direct contact information.

Bottom line

If you need to buy a car but are in a financial bind, Auto Credit Express could connect you to a lender in its network. The representatives help you navigate your options to potentially find a better deal than you’d find on your own.

Because you’ll need to sign up to learn the rates or terms you might qualify for, you may want to compare other car loan providers before you commit to a contract.

Frequently asked questions about Auto Credit Express

• What’s the average interest rate for a car loan for people with bad credit?

  It depends on the lender and your specific circumstances. Because lenders consider those who have bad credit a higher risk for default, you’ll most likely be approved for a high rate. Borrowers with bad credit pay an average interest rate of 10% to 13% on car loans — and much higher in some cases. Always compare your options before signing a contract.

• What’s a typical repayment term for Auto Credit Express car loans?

  It depends on the type of loan you’re interested in. Traditional auto loan providers offer terms that range from 36 to 72 months. Nontraditional terms are often shorter — rent-to-own terms typically last from 12 to 36 months, for example.

• When should I avoid refinancing my car loan?

  You won’t want to refinance if your balance is more than your car is worth (also called “upside down”). In that case, lenders are less than likely to give you a decent rate.