At a glance
- Availability
- Affordability
- Customer Experience
- Transparency
About Credit Direct
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Loan amount
$1,000-$40,000
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Min. credit score
Not specified
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APR from
6.99%-29.99%
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Funds available in
48-72 hours
Loan amount
$1,000-$40,000
Min. credit score
Not specified
APR from
6.99%-29.99%
Funds available in
48-72 hours
Unlike a bank or direct auto lender, Credit Direct is a loan marketplace. This makes it the ideal choice for those interested in comparing different rates all in one place. Depending on your credit standing, you will be presented with multiple loan options that you can compare.
When comparing loan options, pay close attention to the advertised interest rate, available terms and any fees that may be associated with the loan.
Credit Direct’s personal loans for car purchases are accessible by borrowers with varying financial backgrounds, and you can get prequalified without impacting your credit score. Still, their availability is limited to a handful of states.
Credit Direct is a personal loan marketplace that lends both directly and through its trusted partner network to borrowers looking for loans. The vehicle purchase loans offered through Credit Direct have a lower minimum loan amount than most, perfect for drivers looking to finance a smaller purchase. The loans are also unsecured, meaning that the interest rates advertised tend to be slightly higher than a secured loan option.
Credit Direct doesn’t specify eligibility criteria on its website or by phone, aside from being a U.S. citizen or permanent resident and living in a state it serves. However, it does indicate that borrowers with all ranges of credit scores are welcome to apply, and it evaluates more than just credit score when evaluating applications. You should also have a steady, verifiable source of income that allows you to make timely monthly payments.
A comparable unsecured loan option, LightStream offers drivers the ability to finance a new or used vehicle, refinance or buy out their leased car. LightStream has a much larger state footprint than Credit Direct. LightStream also has a much higher maximum loan amount of $100,000 — perfect for those looking to purchase a vehicle that costs more than Credit Direct’s $40,000 max.
Regions Bank offers similar regional coverage to Credit Direct, primarily serving the southern United States. Though the bank-backed lender does not disclose its credit requirements, it tends to serve those with good to excellent credit. It, like LightStream, offers a much larger range of funding, up to $100,000. Regions is especially a good option for those that have a previous relationship with the Alabama-based bank.
Credit Direct’s personal loans for car purchases are accessible by borrowers with varying financial backgrounds, and you can get prequalified without impacting your credit score. Still, its availability is limited to a handful of states.
Credit Direct offers limited 24-hour support via its call center at 866-414-4198. Full service is available during its normal business hours from 9 a.m. to 6 p.m. ET Monday through Thursday and 9 a.m. to 5 p.m. ET on Fridays.
Credit Direct provides personal loans, which can be used to purchase new or used vehicles.
Credit Direct offers personal loans for auto purchases and repairs. An auto purchase personal loan through Credit Direct can be used to finance your next vehicle or buy another for parts. Unlike a conventional auto loan, these loans aren’t secured by the vehicle you’re purchasing.
The minimum loan amount is much lower than most other auto loan providers, which means you don't have to borrow more than you need. You’ll also have the flexibility to take your money to the dealership of your choice.
The application process is fully automated on the Credit Direct site, takes only minutes and doesn't require a hard credit inquiry. According to the Credit Direct website, the process is simple, and you can receive funding as soon as 48 to 72 hours via direct deposit.
Credit Direct does not enforce any fees for early loan payoff or making larger monthly payments. Additionally, Credit Direct allows borrowers to apply for a loan with a co-signer, which can mean better rates for borrowers who apply with someone who has a strong credit history.
Credit Direct does not have any administration fees but specific fees vary by lender partner. Be aware of this when comparing loan options.
Overall score | 4.0 | |
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Availability | 3.6 | Credit Direct only offers loans in 11 states. Its low max loan amount is only slightly offset by flexible terms and a small minimum amount. |
Affordability | 3.6 | Credit Direct scores decently due to its flexible underwriting criteria but still holds steep APRs compared to competitors. |
Customer experience | 3.8 | While there is limited 24/7 call center support, customers can only reach out for full assistance during the workweek. |
Transparency | 5.0 | Credit Direct discloses expected rates and terms and encourages prequalification. |
The Bankrate team assessed more than 35 auto lenders to find the best. Bankrate considered 18 criteria, such as acceptance criteria, loan amounts and APR range. These scores are broken into four categories.
Editorial disclosure: All reviews are prepared by Bankrate.com 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.
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