Auto Loan FAQ

Let's find it together

I’m applying for a purchase, do I need to have a vehicle identified?

For a full approval we do need specific vehicle details, however we can give you a good idea of approval options without that information.

What is your minimum APR?

We offer rates as low as 4.67% for qualified applicants.

What are your minimum and maximum loan terms (months)?

We can offer terms from 24 months to 96 months for qualified applicants.

What are your minimum and maximum loan amounts?

We offer loan amounts from $2,500 to $100,000.

When does my offer expire?

Our pre-qualification and lender-approved offers are valid for 30 days.

Will I be able to do automatic payments through AUTOPAY?

Yes, most of our lending partners offer automatic payments.

What documentation is required?

To process an application for lender approval, AUTOPAY requires the following documentation:
– Driver’s License
– Insurance
– Proof of Income (paystubs, tax returns)
– Proof of Residence (i.e. utility bill, lease agreement)
– Payoff letter if refinancing
Note: You may be asked to provide additional documentation for lenders or during contracting.

What is GAP?

Guaranteed Asset Protection (GAP) insurance covers the financial gap between the actual cash value of a vehicle and the payoff amount of the loan or lease in the event of a total loss.

What does the Vehicle Service Contract cover?

AUTOPAY offers extensive options for vehicle service contracts options that cover maintenance and repairs, and provide roadside assistance in some cases.

What type of lenders does AUTOPAY work with?

AUTOPAY partners with a network of trusted credit unions and financing institutions across the country. Each lending partner has a different set of criteria for approvals, enabling AUTOPAY to provide financing solutions to all levels of the credit spectrum.

Will rate shopping negatively affect my credit score?

In order to have the lowest impact on your credit score, you should rate shop within a two-week period. Any inquiries for one type of financing done in a two-week period are reported by the credit bureaus as one, as opposed to multiple.

How much will adding a co-applicant affect my rate?

Depending on the co-applicant’s credit score, income, and credit history, you could potentially get a better rate than applying on your own.

Ask an expert.

We’ve helped more than
700,000 customers

We provide our customers with solutions that improve their financial situation. If you’re in the market for a new or used car, we could help you get the rate you deserve. If you already have an auto loan, we could help you find a better rate that lowers your payment.