With so many auto loan lenders in the market, it can be tough to decide which one to choose. If you’re going to refinance your existing auto loan, it’s best to let a loan-matching platform narrow down the options based on your profile! Autopay auto refinance is one such platform that helps connect borrowers with the best lenders.
Autopay Auto Refinance is based in Denver, Colorado, and was started in 2007 to connect borrowers to easy, online auto loans and auto refinancing. It has a network of more than 180 lenders across the country, offering low rates and great refinance terms. If you’re wondering whether to check out their services, this review is for you!
In this Autopay Auto Refinance review, the Refinance Team at Way.com breaks down the important features of the company for you to know. We explore the benefits and drawbacks of choosing to refinance through Autopay and ultimately help you make a better decision.
Auto refinancing can help borrowers reduce their monthly payments, reduce their overall interest rates, and save money in the long term. The best time to refinance your existing loan is when your credit score has increased or when you have a co-borrower on board.
The benefit of Autopay auto refinance is that you can pre-qualify for refinancing through a soft credit check and compare multiple refinance plans before signing on. You get more choice in selecting, which may not have been the case during dealership lending.
Here’s a quick look at the major pros and cons of Autopay auto refinance.
|Autopay auto refinance pre-approval (done through a soft credit check) allows you to find out which offers fit your budget||Refinances only cars and trucks|
|Low Autopay auto refinance credit score of 550||Term length starts at 24 months; no 12-month term|
|Low starting APRs||Has minimum annual income requirement of at least $24,000|
|Refinances low loan amounts from $2,500||Approval takes between 24-48 hours|
|Available in all 50 states||Some lenders may charge origination fees|
|Co-signers and borrowers accepted||Some lenders may also charge high late fees|
|Online loan process|
|Also offers deals for lease buyouts and cash-out refinancing|
*As of January 2022
Autopay Auto refinance rates are a good bet for customers who:
Let’s get into some details – here is an exhaustive list of all the features of Autopay.
Before applying for Autopay auto refinance, check the table below to see if you meet all the requirements.
|Minimum Age||18 and above|
|Autopay auto refinance credit Score Range||550-850|
|Minimum Annual Income||$24,000|
|Loan Payoff amount||$2,500 - $100,000|
|State restrictions||None. Available in all 50 states|
|Vehicle restrictions||Vehicles should be less than 11 years old and have a mileage less than 150,000.|
|Make and model restrictions||May vary by lender|
U.S. Permanent Resident
|Documents Required for verification
||Recent pay slips
Government issued photo ID
Proof of residence
*As of January 2022
Head over to the Autopay website and fill in all the details required to process pre-qualification. Autopay will run a soft credit inquiry to shortlist offers and rates from available lenders. You may need to provide personal data like name, email, phone number, vehicle registration number, annual income, and more.
Autopay will show you 2-4 available offers that match your loan payoff amount, loan term, and other conditions. All offers are good for 30 days from the date of application. After you choose the offer, Autopay will initiate a hard credit inquiry. It may affect your credit score, but is a routine step in the refinance process.
The network lender will ask you for supporting documents like:
Funding is usually completed within 1-7 days of finalizing the refinance deal.
Autopay is an established player in the online refinancing marketplace and has a reputation for connecting borrowers to reliable lenders. It has a Better Business Bureau (BBB) rating of A+ and reliable customer service. We recommend trying out Autopay and checking out all the pre-qualified offers available. If you find what you’re looking for, you’re guaranteed a great deal!
The few complaints from customers have been only in the final stage of the deal, involving supporting documentation and delay in funding. However, these are usually easily rectified by bringing it up with customer support team.
The auto refinance rates published here are based on the results of comparative research done by Way.com’s data team. We've used a mix of public and internal data to analyze refinance rates across thousands of lenders, credit scores, vehicle types, and all U.S. ZIP codes
The rates shown here are based on a national average of our findings, and may typically vary for each individual depending on your personal financial position and the US state you are in.
However, you can quickly determine where you stand by going through our Auto Refinance form. In just a few steps, find out how much you can save with way.com!
The official mailing address of Autopay is 8055 E Tufts Avenue, Denver, Colorado.
You can reach out to the Autopay auto refinance customer support team at 844-276-3272 between 7 a.m. and 7 p.m. on weekdays, and between 9 a.m. and 5 p.m. on Saturdays.
Yes, Autopay Auto refinanceoffers cash-out refinancing options as well. You can take out a loan equivalent to your vehicles current estimated value and use it to repay your existing loan.
Autopay refinance offers fixed APRs for car refinancing starting from 1.99%.
Yes, some Autopay network lenders have an origination fee for processing applications.
Yes, some lenders in the Autopay network can charge late fees for delayed payments.
Yes, Autopay reports account activity to TransUnion and Experian.