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Autopay: 2022 Auto Loan Review

2022-05-24 10:00:00

At a glance

Rating: 4.2 stars out of 5

Bankrate Score

  • Availability
    Rating: 3.8 stars out of 5
  • Affordability
    Rating: 3.8 stars out of 5
  • Customer Experience
    Rating: 4.2 stars out of 5
  • Transparency
    Rating: 4.5 stars out of 5
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About Autopay

  • Moneybag

    Loan amount

    New car purchase: $2,500 to $100,000 Refinancing: $2,500 to $100,000

  • Credit Good

    Min. credit score

    Not specified

  • Rates

    APR from

    New car purchase: Starting at 2.99% Refinancing: Starting at 2.99%

  • Funds available in

    One business day

Autopay features

There are some key benefits and drawbacks of Autopay auto loans to consider before applying.


  • Checkmark


  • Checkmark

    Streamlined application

  • Checkmark

    Perfect credit not required

  • Checkmark

    Dedicated customer support


  • Close X

    Lack of transparency around maximum APR

  • Close X

    Down payment

  • Close X

    No used purchase

Autopay is an online lending marketplace that helps consumers find the best deal on auto loan financing. You can view potential loan offers from lenders in their network in minutes without impacting your credit score. If there’s a match, the application process is streamlined so you can quickly finalize your new auto loan, minus all the hassle.

Pros and cons of Autopay auto loans

Consider these benefits and drawbacks of an auto loan with Autopay before signing off on an application. 
  • Convenient. You can explore loan options from multiple banks, credit unions and online lenders all in one place without hurting your credit score.
  • Streamlined application process. Autopay features a simplified application process designed to help you seal the deal on your new auto loan in a fraction of the time it would take at the bank or dealership.
  • Perfect credit not required. You could qualify for an auto loan with a lender in the Autopay network even if you have less than perfect credit.
  • Dedicated customer support. The team of loan experts is available to provide real-time support six days a week.


  • Lack of transparency around maximum APR. The low interest rate of 2.99 percent advertised on the website is only available to well-qualified borrowers with excellent credit.
  • Down payment. Some applicants must put cash down to secure a new car loan. However, down payments generally aren’t required for auto loan refinancing.
  • No used purchases. If you’re looking to buy a used vehicle, you’ll have to shop elsewhere.

Who is Autopay best for?

Autopay is best for individuals who want to check their approval odds for a car loan or lease buyout and prefer to do so in one sitting. It’s also ideal if you’re looking to refinance your vehicle and prefer to do so completely online.

Types of auto loans offered

The lenders in the Autopay network offer new car loans and three types of refinancing.

New car loans

If you’re in the market for a new ride, you can work with Autopay to find the perfect auto loan for your financial situation. Having prequalification in hand allows you to shop with confidence at the dealership and avoid spending hours sitting around waiting for the finance department to approve your loan. Even better, you’ll receive support from the Autopay team to ensure the application process is seamless.

Traditional refinancing

Whether you want to lower your monthly auto loan payments or secure a lower interest rate, refinancing with a lender in the Autopay network can help you meet your goal. You can also go this route to shorten your loan term and pay off your car loan faster.

Cash back refinancing

If you’d prefer to pull equity out of your vehicle, cash back refinancing could be a viable option. You can receive up to $12,000 in cash and use the funds however you see fit. Some borrowers opt to pay off high-interest debt and free up funds for other financial goals.

Lease payoff refinancing

This refinancing option is ideal if you want to keep the vehicle when the lease term is up. You can pay off your lease early and steer clear of any fees assessed by the lessor. Plus, you can avoid excess mileage fees if you’ve exceeded the limit specified in the lease agreement.

Interest rates and terms

Autopay offers competitive interest rates and flexible loan terms on new auto loans and refinancing. New car purchases and refinancing both have rates that start at 2.99 percent. Loan terms range from 24 to 96 months.

How to apply for a loan with Autopay

If you’re ready to apply for an auto loan with Autopay, gather the following documents:

  • Driver’s license.
  • Proof of insurance.
  • Proof of income.
  • Proof of residence.
  • Refinancing requires a payoff letter.
  • Additional documents as needed by the lender you’re matched with.

Once you have these documents handy, the next step is to submit an online inquiry. Autopay will shop your information to lenders in its network and present potential auto loan offers to you if there’s a match. If you decide to move forward, the lender will pull your credit and review supporting documents to finalize the review process and issue a full approval.

Auto loan refinancing requirements

Autopay doesn’t specify lending requirements on its website. However, you will need to provide specific vehicle details when you formally apply with a lender to receive full approval.

Customer service

If you’re interested in applying for an auto loan with Autopay, visit the website to submit an online inquiry or contact customer service by phone. Customer support is available Monday through Friday from 7:00 a.m. to 7:00 p.m. MT and Saturday from 9:00 a.m. to 5:00 p.m. MT.

If you’d prefer to talk by text message, that’s also an option. A member of the Autopay team will text you back to address your question or concern.

How Bankrate rates Autopay

Overall score 4.2  
Availability 4.5 Autopay’s wide network of lenders allows for a high amount of coverage in the areas of loan amounts, state availability and terms. It also doesn’t have dealership restrictions like similar products.
Affordability 3.6 Much of the affordability factor will vary based on the lender you’re matched with, which means Autopay falls towards the middle of the road.
Customer experience 4.0 Autopay offers customer service six days a week, full online access and a shopping period of 30 days, earning it a higher customer service score.
Transparency 4.5 Fees and rates are only partially available on Autopay’s website, but prequalification availability bumps its score up.
Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
Written by
Allison Martin

Allison Martin’s work began over 10 years ago as a digital content strategist, and she’s since been published in several leading financial outlets, including The Wall Street Journal, MSN Money, MoneyTalksNews, Investopedia, Experian and