Carputty is a direct online lender that extends lines of credit, called Flexlines, to borrowers seeking auto loan financing. Autopay is an online lending platform that allows borrowers to compare loan options from its extensive network. The lines of credit make Carputty better for frequent car buyers, while Autopay is ideal for borrowers who want to pull cash from the equity in their vehicles.

Carputty vs. Autopay at a glance

Both Carputty and Autopay feature an assortment of auto financing options. Still, it’s vital to compare the two since how each operates along with the loan amounts, terms and eligibility guidelines differ.

Carputty Flexline Autopay
Bankrate score 4.2 4.3
Better for
  • Frequent car buyers with good or excellent credit
  • Small business owners with a fleet of vehicles
  • Borrowers looking to pull equity from their vehicles
  • Borrowers with lower credit scores
Loans offered New and used purchase loans, refinancing, lease buyouts New and used purchase loans, refinancing, cash-out refinancing
Loan amounts Lines up to $250,000 $2,500-$100,000
APRs From 6.83% From 4.67%
Loan term lengths Variable 24-96 months
  • 1% finance fee per transaction
  • $250 removal fee when a vehicle is removed from your line of credit
Not specified
Minimum credit score 680 Not specified
State footprint 45 states and Washington, D.C. All states and Washington, D.C.
Time to funding As soon as the same day As soon as one business day
Autopay discount? Not specified Not specified
Refinancing restrictions
  • Age: up to 8 years
  • Loan-to-value: capped at 110 percent for used vehicles and 100 percent for new vehicles
  • Mileage: limited to 85,000
Not specified

Best for frequent vehicle purchases


Rating: 4.2 stars out of 5
Learn more in our Bankrate review
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    • Customer support: Get personalized help with the car-buying process from start to finish through the interactive V3 tool.
    • High loan limits: Loans of up to $150,000 are available for individual cars, or you can access up to $250,000 total for all your vehicles.
    • Online preapproval: You can view potential loan offers without hurting your credit score. Most lenders require a hard credit check for preapproval, so this is an unusual perk.
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    • Limited availability: Auto loan financing is only available in 45 states and Washington, D.C.
    • Max rate not listed: Prospective borrowers must apply for preapproval to see the full range of available interest rates.
    • Lending restrictions: Vehicles must be no more than 8 years old with mileage under 85,000 to qualify for financing. Many lenders set a higher threshold.

Best for cash-out refinancing


Rating: 4.3 stars out of 5
Learn more in our Bankrate review
  • Green circle with a checkmark inside


    • Rate shopping: You can get loan quotes from several lenders without negatively impacting your credit score.
    • Lengthy terms: Unlike many lenders, Autopay’s lending partners offer terms of up to 96 months to make monthly auto loan payments more affordable. Just be aware that long-term car loans rack up more interest over time.
    • Accessibility: Borrowers with lower credit scores could be eligible for financing with a lending partner in Autopay’s network.
    Red circle with an X inside


    • Limited rate disclosures: Autopay publishes its starting interest rate of 4.67 percent, but the maximum APR isn’t published on the site.
    • Down payment requirement: Some borrowers are required to make a down payment if financing a new or used car purchase. Refinancing, however, does not require a down payment.
    • Fees: You could be assessed a loan origination fee if you live in select states.

How to choose between Carputty and Autopay

Carputty is a strong fit for a borrower who intends to switch up their car on a frequent basis, while Autopay is best for those who want to get cash through a vehicle’s equity.

Choose Carputty if you frequently purchase vehicles

Carputty is ideal for the borrower with good to excellent credit who buys and sells vehicles often. You’ll have access to the V3 tool to monitor buying and selling trends. Plus, there’s no need to apply for financing each time you want to purchase or refinance a vehicle.

The Flexline also makes it easier to manage auto loan debt, as you’ll make a single payment for multiple vehicles. If you operate a boutique used-car dealership or small business with a fleet of vehicles, choosing Carputty for your financing needs can help simplify financial operations.

Choose Autopay if you want to convert your vehicle’s equity to cash

You’re not limited to purchase or traditional refinancing with Autopay. Its partner lenders also offer a cash-out auto refinancing option if you have a sizable amount of equity in your vehicle and want to convert it to cash. It could be a wise decision if you’re planning to consolidate debt or use the funds to improve your financial situation, especially if you qualify for a competitive rate. And you don’t need perfect credit to qualify for financing.

Autopay is also better if you don’t foresee multiple vehicle purchases soon. In this case, a Flexline wouldn’t be a must unless you qualify for better terms with Carputty.

Compare more lenders before applying

Carputty and Autopay are options to include on your list if you’re ready to purchase your next vehicle. But if you plan to buy or finance more than one car or truck sooner rather than later, Carputty is likely the best fit. On the other hand, Autopay comes with more flexible lending guidelines, and you can access fast cash by borrowing from your car’s equity if you need it.

Weigh the benefits and drawbacks of each and compare other refinance loan options to make an informed decision.