Autopay car loans review December 2018 |

Autopay car loan review

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Sick of high rates? Autopay could find you an affordable loan or help you refinance.’s rating: 4.0 / 5.0


Autopay prides itself on helping its customers find low rates on loans for new or used cars — even if you have poor credit. With loans up to $100,000, you should be able to find a refinancing or loan option that suits your needs. Use its refinance calculator to see how much you can save on a new loan.
Product NameAutopay Car Loan
Min Loan Amount$2,500
Max. Loan Amount$100,000
Interest Rate TypeFixed
Minimum Loan Term2 years
Maximum Loan Term7 years
  • No minimum income required
  • Cost of the vehicle, the market value of the vehicle and your credit

First, do I qualify?

Autopay doesn’t have any specific eligibility requirements. Instead, it bases each application off of three primary points:

  • The cost of the vehicle
  • The market value of the vehicle
  • Your finances

Your debt-to-income ratio and credit score will play a role, but because Autopay has a large number of affiliate credit unions and banks, there may be a loan available even if you don’t have the best credit.

What makes Autopay unique?

Autopay’s main focus is on refinancing previous car loans, but you’ll also be able to get a loan for a new or used car or to buy out a lease. Your credit won’t be impacted until you settle on a lender — this is because Autopay acts as a middleman between you and lenders. You’ll be able to see your loan options, including the potential rate and cost, before a lender pulls your credit.

A prequalification offer from Autopay is good for 30 days. You can shop for the right vehicle, take a few test drives and use your offer to negotiate a good deal on your final purchase.

If you’re interested in refinancing, Autopay claims to have some of the lowest rates around. Its site boasts and average of $165 savings a month. This could be a great deal for people looking to lower monthly payments and to save money on their loan.

What car loans does Autopay offer?

Autopay can help connect you with lenders for:

  • New car loans. Instead of visiting the dealer to get good financing, you can get preapproved for a new car loan and walk in with negotiating power.
  • Used car loans. As long as the used car you’re interested in doesn’t have a lot of miles, you’ll likely be able to find a used car loan through Autopay.
  • Lease buyouts. Interested in buying the car you’ve been leasing? Autopay can help you find loans for when you’re ready to commit to a leased vehicle.
  • Loan refinancing. Potential to lower your monthly payment and pay less in interest over the life of your loan.

What are the benefits of a car loan from Autopay?

  • No used car restrictions. Have a specific vehicle in mind but think it might be too old to get a loan? Autopay doesn’t base its financing off the age of your vehicle, but rather the mileage. Depending on the cost of the car and its mileage, you may be able to get a loan.
  • Estimate your savings. Autopay has a simple calculator that allows you to determine how much you could save by refinancing through their program.
  • Referral bonus. If you enjoy Autopay’s service and refer someone, you could receive $100 for each referral.

Should I refinance my loan through Autopay?

Refinancing your car may be a good way to save yourself money, and Autopay claims it has been able to save its customers almost $2,000 a year.

Autopay has plenty of lenders in its network, and you’ll only need to fill out one application to have access to them — without affecting your credit.

So should you refinance? If you’re already looking into it, Autopay may be a good option. You can check your rates without committing, so it doesn’t hurt to see what type of loan you may be able to get.

What to watch out for

  • No refund policy. Autopay doesn’t allow refunds for payments made to your account.
  • Likely not eligible for 1.99%. Although Autopay advertises it has rates as low as 1.99%, interest this low is reserved for people with excellent credit.
  • Document fees. Autopay will handle title transfers and other paperwork for you, but it comes at a cost. You’ll be required to pay document fees of at least $400 to $500.

More car loan offers to consider

Rates last updated December 17th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Term of Loan Requirements Car Loans
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Auto Credit Express Car Loans
Get connected with an auto lender near you, even if you have bad credit.
Typically 3 to 6 years
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
LightStream Auto Loans
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Good to excellent credit
Flexible terms
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
RateGenius Auto Loan Refinance
Connect with a network of over 150 lenders to refinance your car loan.
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
LendingClub Auto Refinancing
Lower your monthly car payments and save on interest through a fast and easy online application process.
Fair or better credit
Minimum of 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
MotoRefi Car Loan Refinancing
A car loan connection service for borrowers looking to refinance.
1–6 years
Must have an income of at least $2,000/month and have a vehicle with less than 100,000 miles.
LendingTree Auto Loans
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
Good to excellent credit
Typically 1 to 7 years
Must be a US citizen and 18+ years old. Must have good to excellent credit.

Compare up to 4 providers

How do borrowers rate Autopay?

Autopay has a mixed bag of reviews. Although it’s accredited by the Better Business Bureau (BBB) and has an A+ rating, there are a number of user complaints concerning poor customer service and some situations where Autopay attempted to include optional GAP coverage without notifying the buyer.

However, there are also quite a few positive reviews left on a variety of sites. Many cite decent customer service, quick loan processing and lower rates after refinancing.

The takeaway? If you have a problem with a customer service representative, see if you can switch to a new one and get things straightened out. Always compare your car loan rates, whether you’re taking out a new one or refinancing your old one, and don’t base your experience entirely off online reviews. Often, people leave them in the heat of the moment.

How do I apply?

The application process is quick and won’t require you to spend much time filling out multiple forms.

  1. Select Apply Now on the Autopay website.
  2. Enter your full name and select whether you’re applying with a coborrower.
  3. Select whether you’re purchasing a new car or refinancing a previous loan.
  4. If borrowing a new loan, choose whether you’re buying from a dealer, a private seller or buying out your lease.
  5. If refinancing, choose whether you want to lower your monthly payment, lower your rate or remove someone from the loan.
  6. Fill out the About You section with your full name, email, cell phone, date of birth, annual income and address. You’ll also have to identify your vehicle by its VIN, license plate or by its make and model.
  7. From here, you either need to select the amount you have for a down payment or provide the amount you’ll need to pay off your current car loan.
  8. Review your application and agree to Autopay’s Terms of Use.
  9. If Autopay is able to find a lender to match your needs, you can customize your terms before verifying your information and completing the application.
  10. The application is processed and sent to multiple credit unions and banks. Autopay will tell you your options and won’t check your credit until you decide on a lender.

What documents will I need?

You’ll need to supply five pieces of documentation in order to complete your loan processing:

  • Copy of your driver’s license
  • Proof of insurance
  • Proof of income
  • Proof of residence
  • Payoff letter if you plan to refinance

You may also have to give Autopay additional information during the application. Your agent can inform you of these.

Step by step application with screenshots

What happens after I get prequalified?

Your offer will be good for up to 30 days. You can use it to shop around to find a good deal on a car. Or if you want to refinance your current car loan, you’ll have a bit of time to see if there are other refinancing options out there.

Once you agree to a loan from Autopay, make it official by signing the paperwork. Your loan is either sent to the dealer or deposited into your account if you plan on refinancing. At this point, you’ll need to make your monthly payments on time and follow the terms of your contract.

Bottom line

Autopay has options for people looking to refinance their current car loan or buy a new or used car, and there’s no harm done to your credit when you look for a prequalification offer. This is because Autopay connects you with multiple credit unions and banks, and in doing so you’ll be able to see your potential rate and cost before your credit is pulled for confirmation. But before you commit, browse our guide on car loans to learn more about finding the best rate and negotiating the price on your next vehicle.

Frequently asked questions

Loan ratings

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★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

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Kellye Guinan

Kellye Guinan is a writer and editor with and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

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