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3 alternatives to Peak Acceptance auto loans

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Fact checked

Peak Acceptance is a subprime lender that specialized in auto loans. As of several years ago, however, Peak stopped offering direct auto loans. It continues to provide customer service for its current loan portfolio, but isn't accepting new customers.

Why doesn’t Peak Acceptance offer car loans?

Peak Acceptance doesn’t explain why it no longer provides auto loans. However, it continues to purchase retail installment contracts from automobile dealers. 

A retail installment contract is when you purchase a vehicle and agree to pay the dealer over time. A dealer may then decide to sell the retail installment sales contract to a lender — in this case, Peak Acceptance.

3 alternatives to Peak Acceptance auto loans

Peak Acceptance worked with credit scores as low as 300 when it was still offering auto loans — meaning if you had poor credit or no credit at all, you might have still qualified for a loan. 

While most lenders prefer to see credit scores in the 670 range or higher, you can still find those that consider borrowers with less-than-perfect credit histories.

Auto Credit Express Car Loans logo

Finder Rating: 3 / 5

★★★★★

Check eligibility

on Auto Credit Express Car Loans's secure site

Best for a checkered credit history: Auto Credit Express Car Loans

300
Min. Credit Score
Varies
Starting APR
Varies
Loan Amount

Auto Credit Express doesn't offer car loans directly, but it can connect you with one or more of over 1,000 partner dealers and lenders across the country. Its partners offer loans on new cars, used cars and refinancing for auto loans. It’s also possible to get approved for an auto loan if you don’t have a whole lot of cash on hand — some of its partners accept down payments as low as $500. However, you must have a monthly income of at least $1,500.

Pros

  • No credit requirement
  • Personal touch
  • Past bankruptcies OK
  • Program for service members

Cons

  • Potentially high APRs
  • Employment requirements
  • Lender calls
APR Varies
Interest Rate Type Fixed
Min. Credit Score 300
Minimum Loan Term 36 months
Maximum Loan Term 72 months

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myAutoloan.com Car Loans logo

Finder Rating: 3.8 / 5

★★★★★

Check eligibility

on myAutoloan.com Car Loans's secure site

Best for a checkered credit history: myAutoloan.com Car Loans

550
Min. Credit Score
1.79%
Starting APR
$100,000
Loan Amount

MyAutoloan.com offers a wide range of auto loans, including new and used vehicle loans, private party loans, lease buyouts and refinancing. By filling out one application, you can get connected with a number of lenders. APRs with myAutoloan.com start extremely low — down to 1.79% if you have an excellent credit score of 740 or higher and a healthy income.

Pros

  • Many loan options
  • No fees
  • Easy application
  • Quick turnaround

Cons

  • High minimum loans
  • Hard credit checks possible
  • Limited customer service
  • Marketing after applying.
Min. Loan Amount $8,000
Max. Loan Amount $100,000
Interest Rate Type Variable
Min. Credit Score 550

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Best for a checkered credit history: Autopay Car Loan

561
Min. Credit Score
1.99%
Starting APR
$100,000
Loan Amount

Autopay connects borrowers with lenders that offer traditional and cashback refinancing, new car loans and lease buyouts. It looks at the market value of your vehicle, how much you have left to pay on your existing loan and your finances when determining your options. Apply with a coapplicant to increase your chances of approval.

Pros

  • Allows coapplicants
  • Estimate your savings
  • Referral bonus

Cons

  • Likely not eligible for 1.99%
  • Document fees
  • No refund policy
  • No used car financing
Min. Loan Amount $2,500
Max. Loan Amount $100,000
Interest Rate Type Fixed
Min. Credit Score 561
Minimum Loan Term 24 months
Maximum Loan Term 84 months

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How we chose these lenders

Peak Acceptance was known for working with those with less-than-perfect credit, so we first identified lenders and connection services that work with many credit types. From there we compared rates, terms and amounts offered.

See more auto loan providers

Use this table to compare even more auto loan options.

Data indicated here is updated regularly

Name Product Filter Values Minimum credit score APR Loan term Requirements
Carvana
No minimum credit score
3.9% to 27.9%
Varies
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates.
car.Loan.com Car Loans
300
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
300
Varies
Varies
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.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
500
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
LightStream Auto Loans
Good to excellent credit
Competitive
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
LendingTree
Good to excellent credit
Starting at 3.09%
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
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Compare up to 4 providers

Bottom line

If you searched for Peak Acceptance auto loans and were disappointed to find it no longer offers car loans, you're not completely out of luck. You can compare your other car loan options and find one that'll get you on the road in no time — no matter what your credit history looks like.

Frequently asked questions

Loan ratings

★★★★★ — Excellent

★★★★★ — 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.Read the full methodology of how we rate loan providers.

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