2024 Autopay Marketplace Review
 | New auto loans | Used auto loans | Refinance auto loans |
| Starting rates | 5.69% | 5.69% | 4.67% |
| Loan terms | 24 - 96 months | 24 - 96 months | 24 - 96 months |
| Loan amounts | $2,500 - $100,000 | $2,500 - $100,000 | $2,500 - $100,000 |
| See Auto Loan Rates | See Auto Loan Rates | See Refinance Rates |
Autopay is an online marketplace that partners with a number of direct lenders to offer competitive rates and flexible terms on auto loans. You won’t know the exact annual percentage rate (APR) or loan term you qualify for until you go through the full application process, but Autopay allows prequalification, so you can get an idea of the rate you might receive without impacting your credit score. Autopay reviews are generally positive, making the marketplace worthy of consideration.
- Below-market rates: Autopay offers loan rates as low as 5.69%, which is especially attractive in the current market of inflated auto prices and high loan rates.
- Delayed initial payments: When taking out a new loan or refinancing an existing loan through Autopay, you won’t have to make your first payment for 45 days.
- Flexible loan amounts: By partnering with a network of lenders, Autopay can offer a wide range of loan amounts, between $2,500 and $100,000.
- Easy application: Autopay’s online application process is simple and can be completed in just minutes.
- Best for borrowers with good credit: The headline rate of 5.69% isn’t accessible to those without top-tier credit, so if you want to secure Autopay’s best rates, you’ll need a good credit score. However, Autopay also bills itself as “credit score friendly” and works with borrowers of all credit levels.
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Autopay pros and cons
With any financial product, you’ll encounter both pros and cons in terms of quality and customer experience. Here’s a look at the benefits and drawbacks of an Autopay car loan.
| Pros | Cons |
|---|---|
Easy online process Prequalification available Works with poor-credit borrowers Flexible loan terms and amounts | Advertised low rate can be hard to snag Some details not specified on website No claims of same-day funding, unlike some competitors Restrictions on the vehicle you can finance |
For the most part, Autopay works as a customer might hope: the online application process is quick and easy to use, loan terms are flexible and rates can be low. But other loan details can be hard to locate on the company’s website. For example, there’s no mention of the credit score needed to qualify for the best rates or whether borrowers can expect to pay any application or processing fees.
Autopay also places restrictions on the types of vehicles it’s willing to finance. You can only qualify for a loan on the Autopay marketplace if you’re buying or refinancing a car that’s less than 10 years old and has fewer than 150,000 miles.
A closer look at Autopay
Autopay was founded in 2007 as an auto loan aggregator, matching car buyers with auto lenders. In 2021, Autopay and rateGenius merged under parent company The Savings Group, and in 2022, Tresl joined the lineup of auto finance and refinance brands. Since its inception more than 15 years ago, Autopay claimed to have served more than 700,000 customers.
Autopay’s online marketplace offers purchase loans for new and used cars, auto loan refinancing (including cash-out refinancing) and lease buyouts. In addition to financing, Autopay also offers GAP insurance that covers losses up to $50,000, with terms up to 84 months.
Autopay loan reviews are generally positive on consumer review sites, with many commenters noting the fast and easy process. The company also has an A+ rating with the Better Business Bureau (BBB), though several of the complaints submitted to BBB in the past year mentioned unauthorized credit pulls.
How to get a loan with Autopay
Getting a loan with Autopay is straightforward. You’ll start by filling out an online prequalification form, after which you may be matched with lender offers. All offers are good for 30 days. If you want to continue with the application with a specific lender, you’ll have to submit to a hard credit pull.
On the prequalification form, you’ll be asked for the following information:
- Personal information, such as your name, address, date of birth and phone number
- Financial information, such as your gross annual income and monthly housing expense
- Vehicle information, including the year, make, model, trim and mileage
Once you’ve reviewed the lender offers and have selected a lender, you’ll begin the official application process for lender approval. Autopay may ask you for this additional information:
- Driver’s license
- Auto insurance
- Proof of income, via tax return or pay stubs
- Proof of residence, via lease agreement or utility bill
- Payoff letter (for refinance applications)
After a final review, you’ll either be approved or denied for your loan.
How Autopay auto loans compare
Autopay’s starting APR is tough to beat, but shopping around is still an important part of the car-buying process. To see how Autopay really stacks up, we compared rates and terms for auto purchase loans with both a prominent credit union and a well-known national bank. To get an idea of how these numbers can affect your monthly loan payment, use our auto loan calculator.
| Autopay | Navy Federal Credit Union | Bank of America | |
|---|---|---|---|
| APR | 5.69% | 4.54% | 5.89% |
| Terms | 24 - 96 months | 36 - 96 months | Up to 72 months |
| Amount | $2,500 - $100,000 | Not disclosed | $7,500 minimum |
| Minimum credit score | Not disclosed | Not disclosed | Not disclosed |
Is an Autopay loan right for you?
Autopay may be a good fit for you if you have a good credit score and are looking for the best rates. However, you’ll have to go through the full application process – which would include a hard credit pull that will impact your credit score – if you want to see the exact rates and terms you will receive.
As with any type of loan, it’s important to shop around and know what types of terms and rates competitors are offering before you make a decision with Autopay.
Frequently asked questions
The credit score required for an Autopay auto loan is not disclosed on the company’s website. However, this is likely because Autopay is an online marketplace. Rather than having a minimum credit score posted on its website, Autopay relies on each individual lender to determine its own minimum credit score requirements.
Autopay does specify that it is “credit score friendly,” so even if you need a bad-credit auto loan, this company may be able to match you with a reputable lender to meet your needs.
Loan offers from Autopay are good for 30 days from the time of submission. This applies to both pre-qualification and lender-approved offers. This kind of time can give you the flexibility to consider all of your options, including shopping around with other lenders.
No. Autopay is an online marketplace that works with its lending partners to find you the best options for your auto loan. Autopay partners with a variety of credit unions and other financing institutions to offer maximum flexibility to its customers across the credit spectrum.