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  • Pros
  • Competitive APRs
  • Streamlined application process
  • Live chat available
  • Accepting of lower credit scores
  • Submit paperwork electronically
  • Cons
  • Difficult to know what you're getting in lending network

AUTOPAY is another player in the movement to streamline the lending process in a number of industries. Like many online auto lending platforms, AUTOPAY is not a direct lender. Instead they partner with credit unions, banks and other lending institutions in order to match responsible borrowers with the lender that offers them the lowest possible rate. Because of this method, they are able to offer very competitive rates to those who qualify.

As an online lending network that seeks to give responsible borrowers the auto loan rates that they deserve, AUTOPAY is ideal for those looking to refinance their existing auto loans.

Because of their access to different companies they are able to offer rates as low as 1.49%. This can help you lower your existing rates and monthly payments, paying less on your auto loan over all. If you apply and you are already getting your best possible deal, they will let you know.

Though refinancing seems to be AUTOPAY's specialty, you can also finance a new vehicle through the company. If you can't get interest-free financing through a dealership, it can be difficult to know if you are getting the rate you deserve. Through their network of lenders, you are able to find an ideal rate.

Auto Loan Refinancing

There are a number of reasons refinancing your auto loan can be a good idea. If you financed your vehicle through the dealership, you may have taken an interest rate that isn't the best you could qualify for. Maybe it was the best you could get at the time, but now industry rates have dropped or your credit score has improved. Whatever your reason, refinancing your loan can help you pay less overall or help you free up some money each month.

Plus, refinancing with AUTOPAY has its advantages. Since they don't connect you to just one lender, they offer a full network of different accepted credits scores, rates and other features that you may not have had when you first financed your vehicle. Because of this, they boast being able to save customers an average of $165 per month and interest rate cuts by 57%.

If you've made all of your existing car payments on time but your interest rates is still high, you are an ideal candidate for AUTOPAY refinancing. Plus, AUTOPAY accepts applicants from the full credit spectrum for refinancing. Even if you don't have optimal credit, you can apply to see if there are better rates or monthly payment options in their network.

Auto Loan Details

Since, AUTOLOAN finances auto loans through a network of lending partners, borrowers have a wide range of features when it comes to the details of the loan.

They offer a varied range of loan amounts, with a minimum of $2,500 to a maximum of $100,000. Because of this you should be able to finance any car purchase if you qualify for a AUTOPAY loan.

You can also attain a repayment term between a minimum of 24 months and a maximum of 84 months. Generally, you should choose a smaller amount of time and if you can't afford it, you should choose a cheaper vehicle. Loan terms in the 72 and 84 month range mean you are paying a lot more in interest, paying down your principle slowly and you will owe more than your car is worth as it ages. At that length of time, your manufacturer's warranty will expire and if it breaks down or gets totaled, you might still be paying for a car that you can't even drive.

AUTOPAY offers APR as low as 1.99%. Although that is the lowest end of interest rates and it doesn't mean you will qualify for it or that the lender you connect with even offers it. However, AUTOPAY's wide network of lenders means you are more likely to get your best possible APR.

AUTOPAY doesn't charge any application fees or a prepayment penalty. If you do encounter fees with your lender, they are added to the loan and there are typically no out of pocket expenses.

The Application

The application process is fairly simple. Aside from regular contact info, you are asked to submit your license plate number, driver's license, proof of income and proof of residence. You can also choose to submit these documents electronically without having to send in paperwork.

Once you've filled out your application, they will automatically show you a list of pre-qualified offers and their APRs and monthly payment. If you are refinancing, they will also tell you how much you can save per year and per month. The pre-qualification is done with a soft credit pull, which means it does not affect your credit. Instead your credit will not be affected until you choose a loan offer.


The use of a lending network rather than a single lender means more options and few applicants rejected. It also means that you are more likely to receive a competitive APR, which means overall savings. AUTOPAY also has a streamlined, automated application process with a "expert loan consultant" there to guide you via live chat. Plus, if you find that you are able pay off your loan early and you want to skip out on the money paid toward interest, there are no prepayment penalties with AUTOPAY.


Because AUTOPAY is a network of lenders, it can be difficult to pin down any specific lender. It's possible that one lender in their network offers better features than another. For instance, after you go through their smooth application process, you may be connected with a lender that requires more documentation and processing of their own.

Verdict - Superb

AUTOPAY is an excellent auto loan option with competitive rates, a wide range of options and helpful customer service. The fact that you are connecting to a network of lenders means that it can be difficult to know the lender you will finally get your loan from, but it also means you have access to the best rates.