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AutoPay helps customers find appropriate loans for new and used cars even if they have poor credit. Car buyers will find refinancing or loan options that satisfy their needs. Their loan amount extends to around $100,000. AutoPay features a “refinance calculator” that helps you see how much you save on a new loan.

AutoPay mainly focuses on refinancing car loans, but it will also help you get a loan for a new or used car or to buy out a lease. Moreover, you don’t need to worry about your credit as it won’t run a hard check until you settle for a lender. AutoPay acts as a middleman between you and the lenders. You’ll see your loan options including potential rates and cost before a lender pulls your credit.

AutoPay’s prequalification offer is good for 30 days. It allows you to shop for the right vehicle, take a few test drives and negotiate for a good deal on your final purchase. AutoPay also claims that they offer some of the lowest rates for refinancing.

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  • No hard check during prequalification
  • Option to check interest rates
  • Quick application process


  • No refunds on payments
  • Additional fees for paperwork
  • Relatively high income requirements


You do not get any refunds on payments made to your account with AutoPay. Although it advertises that it has rates as low as 1.99%, this interest rate is only for people with excellent credit score. AutoPay handles all of the title transfers and other paperwork for a cost. You’ll be paying a document fee of at least $400 to $500.


AutoPay bases its financing off the mileage of your vehicle. Depending on the value of the car and its mileage, you will get an appropriate loan. AutoPay’s simple refinancing calculator allows you to determine the amount you can save by refinancing through their program. If you refer someone for AutoPay’s services, you could receive up to $100 for each referral.

Other offerings

AutoPay offers a “cash back” refinancing that allows you to take out cash of up to $12,000 when you refinance a loan. Unless you have a lot of equity in your car loan, taking cash out might lead to an “upside down” situation, meaning that you will owe more what the car is worth. However, in some cases, it might be beneficial to get a cash back loan to pay off other high-interest debts.
Other products offered by AutoPay include service contracts and gap insurance.

Terms and conditions

The minimum income requirement to get a loan from AutoPay stands at around $2,000 per month, and a credit score of 600 is on the higher end of the spectrum. Most AutoPay customers have an average income of $6,000 a month with credit scores of around 706. It highlights the company’s focus on borrowers with average or good credit. It’s vital to note that customers with average or below-average credit will not get the lowest interest rates.

Tools offered

AutoPay’s “Get My Rates” helps you compare the rates offered by the lenders before you make a decision on the loan. This way you can choose the best offer that provides the most benefits, and this allows you to save more money.
The refinance calculator of AutoPay helps to get an estimate on your savings if you apply for refinancing your loan. You have to enter your present loan payoff amount, the new loan terms you’re looking for, the remaining tenure, and the current APR.
The website features an auto loan refinance calculator and also provides answers to frequently asked questions.

Credit score

If you want to see the interest rates offered by various lenders, AutoPay will run a soft inquiry on your credit score which will not affect your credit score. It’s a particularly good option for rate shoppers who want to compare quotes before committing to a loan. While each lender has different criteria for approving loans, a single application usually suffices to qualify for widely varying interest rates.

Once you have chosen an offer, the lender will run a hard credit check. The terms of the loan might change if the vehicle or income information provided was inaccurate.

The lowest rate proposed by AutoPay is 1.99%, but it’s available only if you have an excellent credit score. The average credit score of any given AutoPay customers is 706, and the average interest rate is 5.4%. While different lenders have their own set of qualifications, usually, an excellent credit score is 720 or better, while a score of 690 to 719 is generally considered good.

Applying for a loan

  • AutoPay has a quick application process and requires a limited amount of time to fill various forms.
  • Go to AutoPay’s website and enter your full name. Select whether you’re applying with a co-borrower.
  • Choose from the options available such as whether you’re purchasing a new car or refinancing a previous loan.
  • If you are borrowing a new loan, choose from buying from a dealer, a private seller or buying out on the lease.
  • If you are looking for refinancing, select whether you want to lower your monthly payment, lower your rate or remove someone from the loan.
  • Share your full name, annual income, email, cell phone number, date of birth, and address. Identify your vehicle by its VIN, its make and model, or license plate.
  • From here, either select the amount you have for a down payment or the amount you’ll need to pay off your current car loan.
  • AutoPay will find a lender to match your needs, and you can customize your terms before verifying the information and completing the application.
  • Finally, the application is processed and forwarded to multiple credit unions and banks. AutoPay provides you with various options, and it won’t check your credit score until you decide on a lender.