2025 Autopay Auto Marketplace Review
Autopay auto loans at a glance
| New auto loans | Used auto loans | Refinance auto loans | |
|---|---|---|---|
| Starting annual percentage rate (APR) | 4.85% | 4.85% | 4.85% |
| Loan terms | 24 to 96 months | 24 to 96 months | 24 to 96 months |
| Loan amounts | $2,500 to $100,000 | $2,500 to $100,000 | $2,500 to $100,000 |
| See Auto Loan Rates | See Auto Loan Rates | See Auto Refinance Rates |
Using a lending marketplace like Autopay lets you avoid applying to many different lenders for an auto loan, refinance or lease payoff.
Autopay isn’t itself a financing company — instead, it gives your info to a network of lenders that will prequalify you for auto loans. If you accept an offer, you’ll finalize the loan with the lender.
Of course, the rate you get will depend on your credit score and history — and there’s no guarantee the offers will be the best option for you.
- An auto loan marketplace: Autopay submits your application to multiple lenders and presents you with the best offers.
- Prequalify without a hard inquiry: You can get prequalified without a hard credit pull, so your credit score won’t be impacted unless you decide to apply for a loan.
- Low minimum credit score: Autopay’s minimum required credit score is 550, meaning it’s still possible to qualify with poor credit.
- Many loan options: Besides new- and used-car loans, Autopay also has lease buyouts, refinancing and cash-out refinancing.
- Best for comparing loans: Autopay makes it easy to compare several loan offers at once.
Autopay auto loan requirements
Because Autopay works with a network of lenders, the requirements to prequalify for an auto loan will vary. But as a baseline, you need a credit score of at least 550, and the car you’re funding has to be 10 years old or newer, with less than 150,000 miles.
Autopay loans also have income requirements of at least $2,500 a month, as well as debt-to-income qualifications. But if you have bad credit, Autopay may be able to connect you with a lender that specializes in bad credit auto loans.
The car you want to finance also needs to meet the lender’s vehicle restrictions for loan-to-value ratio, age and mileage.
Autopay pros and cons
Autopay and other marketplaces allow you to use a single application to get many preapproved car loan offers from different lenders. This saves you from the hassle of filling out multiple applications as you shop around for the best auto loan rates.
However, the loan requirements and upfront fees vary by lender, so you won’t see the details until the auto loan offers are sent to you.
| Pros | Cons |
|---|---|
| Can borrow as little as $2,500 Long terms available Easy application process | Unknown origination fees Loan requirements vary by lender Final rate may not match the prequalification offer |
Autopay’s wide range of loan amounts and terms helps you find a loan that meets your needs. You can borrow a little or a lot, with the terms ranging from 24 to 96 months.
Autopay doesn’t use hard credit pulls, meaning you can see which offers you qualify for without affecting your credit score.
Further, Autopay allows you to include a co-applicant to improve your chances of qualifying for a loan or getting a lower interest rate.
Autopay company overview
Autopay is based in Denver and was founded in 2007. It’s owned by The Savings Group, which also owns rateGenius and Tresl. The company says it’s helped more than 700,000 customers with auto loans.
Notably, Autopay operates strictly online. You can’t contact the company in person or via chat, but you can send an email, call for live support during business hours or submit a message through the website.
Autopay auto loan types offered
Autopay can help you find auto financing offers to pay off cars you already own or to buy cars you want.
- New and used car loans: The easy application process means you’ll get offers back in a few hours. The first payment won’t be due for 45 days.
- Lease buyouts: Whether you’ve fallen in love with the car or have blown past the mileage limit, a car lease buyout loan can help you keep your vehicle at the end of a lease.
- Auto refinance: Refinancing an auto loan can let you lower your interest rate or change the length of the loan. Autopay says it has saved customers an average of $100 a month on their payments.
- Cash-out refinancing: Cash-out auto refinancing lets you borrow more cash than you need to repay the original car loan. You can get up to $12,000 in extra funds to pay off high-interest debt by consolidating it into a new loan. And if you’ve already paid off the original loan, you can still use the equity in the vehicle to get money via a cash-out refinance.
Autopay also offers vehicle protection products.
- GAP (Guaranteed Asset Protection insurance) covers the difference between the car’s market value and the loan balance.
- Vehicle service contracts cover maintenance and repairs and may include roadside assistance.
How to get an auto loan with Autopay
You can apply for a car loan through Autopay’s website or by phone. Here’s what the application process looks like:
1. Prequalification
The initial application requires basic personal information, including:
- Name
- Address/contact information
- Length of residence
- Social Security number
- Employment status
- Employment length/job history
- Estimated income
- Co-applicant
- Car information, if available
2. Loan offers
Next, you’ll review the loan offers, comparing loan amounts, interest rates, repayment terms and fees. You can also compare these to offers from other sources outside Autopay, such as your own bank or credit union, in order to help find the best deal.
3. Finalize the loan
Once you choose a lender, you’ll have to complete a more detailed loan application and sign the contract. Be sure to read the fine print to fully understand your rights and responsibilities under the agreement.
To apply for lender approval, Autopay will need these documents:
- Car information
- Driver’s license
- Proof of insurance
- Proof of income (e.g., pay stubs, tax returns)
- Proof of residence (e.g., utility bill, lease agreement)
- Payoff letter (if refinancing)
The individual lenders may require other documents during the process.
Autopay’s prequalification and lender-approved offers are good for 30 days.
Is an Autopay auto loan right for you?
If you’re looking for a car loan or refinancing your current auto loan, Autopay and similar marketplaces are great for getting a lot of information quickly to help make your decision.
On the other hand, using Autopay doesn’t guarantee you’ll get the best deals. Even if you get multiple attractive offers, it’s wise to shop around for the best auto loan as widely as you can, including with any banks or credit unions where you already have an account.
How Autopay auto loans compare
If you like the ease of using an online marketplace to find a car loan, myAutoLoan is another option. Like Autopay, it can send you multiple prequalification offers without a hit to your credit.
You can also work directly with a traditional lender that offers loans online. LightStream is an option for those with good or excellent credit, but since it doesn’t offer preapproval, you’ll be making a full loan application with a hard credit pull that can slightly lower your credit score.
Here’s how Autopay’s financing on new cars compares.
| Autopay | LightStream | myAutoLoan | |
|---|---|---|---|
| Starting APR | 4.85% | 6.94% (with autopay) | 6.94% |
| Loan terms | 24 to 96 months | 24 to 84 months | 24 to 72 months |
| Loan amounts | $2,500 to $100,000 | $5,000 to $100,000 | Starting at $8,000 |
| Minimum credit score | 550 | Not specified | 600 |
To learn more about how these options compare to Autopay, read our review of myAutoLoan and LightStream auto loans.
Frequently asked questions
Autopay’s minimum credit score for an auto loan is 550. Usually, the credit score needed to buy a car is at least 600, but some companies are willing to work with lower scores. Borrowers with lower credit scores tend to pay much higher interest rates than those with good or excellent scores.
Autopay doesn’t do a hard credit inquiry or pull during the prequalification stage. That means you can see several rate quotes without impacting your credit. When you officially apply, the lender will perform a hard credit pull that will likely cause your credit score to drop temporarily by five to 10 points.
Autopay is an online marketplace for car loans that matches applicants with lenders nationwide. Each lender has its own set of criteria for loan approval, so Autopay can work with borrowers of all credit levels.