Autopay Auto Refinance Loans: 2021 Review

AutoPay is a loan marketplace for borrowers who want to shop around for the best auto refinance loan rate.
Philip ReedJun 23, 2020

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Our Take

The bottom line: Best for borrowers with fair credit who want to quickly compare offers.

Learn More

on Autopay's website

Min. Credit Score


Est. APR

1.99 - 17.99%

Loan Amount

$2,500 - $100,000

Pros & Cons


  • Prequalify with a soft credit check.

  • Offers marketplace to compare loans from multiple lenders.

  • Allows co-applicants.


  • Offers loan terms over 60 months.

  • Vehicle restrictions.

Compare to Other Lenders

Learn MoreLearn MoreLearn More
Min. Credit Score


Min. Credit Score


Min. Credit Score


Est. APR

1.99 - 17.99%

Est. APR

2.05 - 29.40%

Est. APR

2.45 - 17.99%

Loan Amount

$2,500 - $100,000

Loan Amount

$5,000 - $99,000

Loan Amount

$7,500 - $150,000

Full Review

To review Autopay, NerdWallet collected more than 15 data points from the lender, interviewed company executives, and compared the lender with others that seek the same customer or offer a similar product.

Autopay is an online vehicle loan marketplace that specializes in matching borrowers to auto refinance loans from its lender network. The company also arranges purchase and lease buyout loans.

Autopay may be a good fit for those who:

  • Want to shop around: You can use Autopay’s marketplace to compare rates from multiple lenders after filling out an application. Comparing rates requires a soft credit check, which doesn’t affect your credit score.

  • Have fair credit: Autopay’s low minimum credit score requirement makes it an option for borrowers with a fair credit score (630 to 689 FICO).

  • Need a co-applicant: Autopay allows for co-applicants, which may boost your chances of approval and get you better loan terms.

Autopay review details

Autopay focuses on refinancing for borrowers who’ve improved their credit since taking out the original car loan.

The ability to check rates with no impact to your credit score makes it an option for rate shoppers who want to compare quotes before committing to a loan. Lenders have different criteria for approving loans, so you may get offers from some and not from others, and interest rates will vary.

Once you select an offer, a hard credit pull is required. The quoted terms of the loan might change if, say, the vehicle or income information provided was inaccurate, says Jeff Hutcheson, Autopay co-founder and managing partner.

Autopay auto refinance loan rates

Autopay’s lowest rates are available only if you have excellent credit (720 FICO and up).

Keep in mind that with fair or bad credit you won’t get the lowest interest rates, which means your monthly payment and total interest paid will be more. If you know your credit score, you can get an idea of the rate you might qualify for.

Loan example: For a non-prime borrower (FICO score between 601 to 660), a $16,000 car purchase with a down payment of $4,000, a repayment term of 36 months and an interest rate of 4.5% would carry monthly payments of $357, according to NerdWallet’s auto loan calculator.

Applying to Autopay

  • No Social Security number required for pre-qualification.

  • Decision for pre-qualification within minutes; more information may be required for final approval.

  • Loan offers are good for 30 days.

  • No application fee; late payment fees vary by lender.

  • Allows co-applicants.

Autopay restrictions

  • Minimum monthly income: $2,000.

  • Maximum vehicle age: 11 years.

  • Maximum vehicle mileage: 125,000 miles.

  • Maximum loan-to-value ratio: Did not answer.

  • Loan terms: 24 to 84 months. (NerdWallet doesn’t recommend extending loans over 60 months.)

  • Vehicle make/model restrictions vary by lender.

  • Available in all 50 states.

More from Autopay

Autopay also offers gap insurance, as well as “cash back” refinancing, which allows you to take out up to $12,000 in cash when you refinance into a new loan. But unless you have a lot of equity in your car loan, taking cash out could make you upside down, meaning you would owe more than the car is worth.

In some cases, however, it might be advantageous to take a cash-back loan to pay off other high-interest debt.

Frequently asked questions