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AUTOPAY Car Loans Review

Whether you’re buying a new car or used car, it often comes with one dreaded process – financing.

Aside from adding hours onto the application process comes the trepidation about a high APR driving up your monthly car payments.

What if you could get a loan approved at a low-interest rate before you even start test-driving cars?

Or refinance an existing loan to save on your existing monthly payments, or possibly get cashback with an auto refinance?

Well, we’re here to tell you that it’s all possible. Bottom line, AUTOPAY can help!

Table of Contents:

  • How AUTOPAY Works
  • Requirements
  • Is AUTOPAY Safe?
  • How Much You Can Borrow
  • APR
  • Fees
  • Pros & Cons

How Does AUTOPAY Work?

Headquartered in Denver, CO, AUTOPAY is not a bank, credit union, or a lender, it acts as a middleman to help you get the lowest rates and have the smoothest auto loan or refinancing experience possible.

You go to AUTOPAY, and the company does all the footwork for you.

Are you trying to decide whether AUTOPAY is the right option for you? Start by thinking about your finances.

Have you recently earned a raise? Has your credit score risen? Or maybe you just got a lousy rate due to dealer terms when you purchased your vehicle. That’s okay. Autopay is excellent if you are amid any of these situations.

AUTOPAY’s application process is hassle-free, easy to fill out, and doesn’t require a hard credit check until you’ve selected a lender. The process is quick and easy, but there are some things you and your vehicle must match if you want to see success.

AUTOPAY Requirements

  • You must be at least 18 years old.
  • Co-applicants must also be at least 18 years old.
  • You must have a credit score of at least 600.
  • Must have an income of at least $2,000 a month.
  • You can live anywhere in the United States.
  • Your vehicle must be no more than 11 years old.
  • Your car must not have more than 125,000 miles on it.
  • You must find loan terms of 24 to 84 months acceptable.

How do you fit those requirements? If you can say yes to everything, you’re good to get started with AUTOPAY.

Specifications may vary slightly for cash-back refinancing or lease-payoff loans.

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Yes, AUTOPAY is safe! You don’t even need to input your Social Security number to get started.

Once you decide to go with a lender, your information remains safe and secure throughout the process.

During the soft credit check or soft pull through Credit Karma, AUTOPAY doesn’t even use your Social Security number.

Why is this important? If you’re paying for credit monitoring, you’ll notice there are two types of credit pulls or credit inquiries.

A hard pull allows lenders to gather all the relevant credit information about you, however, it will ding your score slightly for a few months, just like when you open a new credit card account.

A soft pull allows creditors to use your credit report to decipher if you have excellent credit, moderate, or poor credit without impacting your overall score

How Much Can You Borrow From AUTOPAY?

Whether you’re refinancing an existing car loan or looking to get a new loan through AUTOPAY, if a lender approves of the make and model of your vehicle, loan amounts range from $2,500 to $100,000.


Unlike others in the industry, AUTOPAY offers the most competitive APR’s in the industry. Rates begin as low as 1.99%.

The AUTOPAY rates are a full 6% lower than most of its competitors. On average, you’ll save about $1,000 a year.

Whether you use that money to pay off your loan faster or just for extra cash, that is a tremendous amount that goes back in your pocket.

On average, an AUTOPAY refinance customer can save $95/month due to lower interest rates offered.


There are no fees associated with applying for a loan through AUTOPAY. However, individual lenders might charge late fees or early payoff penalties.

Be sure to read through all of the contract terms carefully, as the lender will not be part of AUTOPAY and might charge other fees.

Pros & Cons

We’ve covered the basics of AUTOPAY, but you might still have questions as to whether this is the route for your particular situation.

With that in mind, we’ll provide you with a list of basic pros and cons to help finalize your decision-making process:


  • The initial credit check is “soft,” this is great if you want to shop around for various quotes before committing.
  • Vehicle requirements are more lenient than those of most other companies.
  • You get a prequalification decision in minutes.
  • All documents signed through Docusign and can finish up through emails or phone calls.
  • Loan offers are valid for 30 days, so you don’t have to feel rushed into a deal.
  • Allows for co-signers.
  • Offers gap insurance
  • It provides various types of loans, not just refinancing.
  • APR is more competitive than many other businesses & offers more money at the end of the day, even with the highest 17.99%.
  • Application and approval processes are quick – with approval often coming the same day.
  • AUTOPAY is available in all 50 states.
  • The website features a handy calculator to test rates before you even apply.
  • Cash-back refinancing can net you as much as $12,000 in cash.


  • A hard inquiry on your credit does occur to determine interest rates after you choose a lender.
  • Though AUTOPAY advertises rates as low as 1.99% APR, those rates are available only to people with excellent (720 or above) credit scores.
  • It requires a minimum credit score of 630, and the best rates are for those who have a 720 or higher.
  • Must have a minimum monthly income of $2,000 to get matched with lenders.
  • Since it is initially a soft inquiry, loan rates might change after the hard inquiry.
  • While you are required to have a minimum credit score of 600 and make $2,000 a month, loans are most common for those with an average credit score of 706 and a monthly income of $6,000.

Is AUTOPAY The Best Option For You?

AUTOPAY is an intermediary loan marketplace company, like Lendingtree, that connects shoppers with lenders both for new loans, auto-loan refinancing, lease-payoff refinancing, and cash-back refinance loans.

Whatever your needs, an AUTOPAY loan specialist can help you with your car loan at any stage of the buying process – or even years after the purchase!

On average, customers save $95 a month and see their rates cut in half. What would you do with more money each month? We’re sure you can think of a few things.

With that said, AUTOPAY is a fantastic option to kick start your car-buying, refinancing, or lease-payoff process and saves you time and hassle at the dealership.

So, are you ready to start saving money? If so, check out AUTOPAY today!