Valley Bank and Credit Direct both offer auto loan financing but operate differently. Established in 1927, Valley Bank is a traditional bank offering personal and business banking solutions. Credit Direct is an online marketplace that both offers personal loans and helps connect borrowers to other lenders. Valley Bank offers fast funding times, but Credit Direct shops your information around to lenders in its network to help you find the best deal on financing.

Valley Bank vs. Credit Direct at a glance

Valley Bank and Credit Direct could be viable options for your next auto loan. Still, it’s worth comparing what each offers to determine the best fit.

Valley Bank Credit Direct
Bankrate score 3.2/5 4.0/5
Better for
  • Fast funding times
  • In-person support
  • Rate shopping
  • Unsecured auto loans
Loans offered New or used purchase loans Personal loans that can be used for new or used vehicle purchases
Loan amounts Not specified $1,000-$40,000
APRs From 7.30% 5.99%-29.99%
Loan term lengths 12-84 months 12-60 months
Fees Not specified Not specified
Minimum credit score Not specified Not specified
State footprint 4 states 14 states
Time to funding As soon as the same day 48-72 hours
Autopay discount? Yes, 0.25% No

Valley Bank
Best for fast funding times

Valley Bank

Rating: 3.2 stars out of 5
Learn more in our Bankrate review
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    • In-person support: You can receive assistance and submit an application for an auto loan at a physical branch, which isn’t an option with Credit Direct.
    • Convenience: Unlike some brick-and-mortar banks, you also have the option to apply for financing online.
    • Rapid funding times: It’s also uncommon for traditional banks to offer same-day funding, but it’s a benefit borrowers enjoy at Valley Bank — and not one offered by Credit Direct.
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    • Limited online disclosures: Valley Bank does not disclose minimum and maximum loan amounts on its website.
    • Online prequalification unavailable: You must apply and undergo a hard credit check to view loan offers.
    • Only available in select states: Auto loans are unavailable to borrowers outside of Alabama, Florida, New Jersey and New York.

Credit Direct
Best for unsecured auto loans

Credit Direct

Rating: 4 stars out of 5
Learn more in our Bankrate review
  • Green circle with a checkmark inside


    • Online prequalification: You can view potential loan offers without negatively impacting your credit score.
    • Low minimum loan amounts: The minimum loan amount of $1,000 is ideal if you only need to borrow a small amount for your first or next vehicle purchase.
    • Flexible eligibility guidelines: Credit Direct’s website states that you can get approved even if your credit score is between 500 and 600 — but you may face a maximum rate of nearly 30 percent.
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    • Extensive documentation requirements: You’ll need your most recent W2, a month of pay stubs and your two most recent bank statements to apply for an auto loan.
    • Limited availability: CreditDirect only operates in 14 states. That’s more than Valley Bank but less than many other online marketplaces.
    • Smaller loan limits: The current average new car price is over $48,000, but auto loans with Credit Direct are limited to $40,000. You may need a sizeable down payment if you’re planning on buying a new or luxury vehicle with a Credit Direct loan.

How to choose between Valley Bank and Credit Direct

Credit Direct offers financing through personal loans, so it could be the best option if you want to own your vehicle outright. Valley Banks offers quick funding and more discounts — provided you live in a state where it operates.

Choose Valley Bank for fast funding

Valley Bank can fund your auto loan the same business day following approval. You’ll have to wait 48 to 72 hours with Credit Direct for funding.

This lender also wins in the support category. Customer service is only available virtually with Credit Direct since it’s an online loan marketplace. Valley Bank offers more than 200 locations in four states to serve you if you prefer to speak with someone in person.

Choose Credit Direct for rate shopping

If Valley Bank offers you an auto loan, there’s no way to know if it’s your best deal without also applying elsewhere. However, allowing Credit Direct to shop your information around means you could save in interest. Accessing potential loan offers doesn’t take much time, and there’s no harm to your credit score.

You can apply with a co-borrower if you have a lower credit score to increase your approval odds. And even if you don’t have a co-borrower, you may qualify for a loan with bad credit since some lending partners look beyond credit scores to make decisions.

Compare more lenders before applying

When financing your next ride, Valley Bank can get you approved and funded quickly. However, Credit Direct could be better if you have bad credit and want a lender with flexible eligibility guidelines.

Despite its limited maximum loan amount and slower funding times, you can shop around for a better deal and compare loan offers in one sitting. But if you want the in-person experience only brick-and-mortar banks offer, Valley Bank is best. Before applying with either, explore loan offers with other lenders.