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Credit Direct
credit direct auto loans 2023 review. Published 2023-01-01-01 at 00:00:00
Written by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers with the ins and outs of securely taking out loans to purchase the car they want.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been writing and editing for Bankrate since the end of 2021. They are dedicated to helping readers gain the confidence to control their finances through providing concise, well-researched and well-studied content that breaks down complicated subjects into digestible chunks.
Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial choices by offering interactive tools and financial calculators as well as publishing high-quality and impartial content, by enabling users to conduct research and compare data for free to help you make sound financial decisions. Bankrate has agreements with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are advertised on this website are provided by companies that pay us. This compensation could affect how and when products are featured on this website, for example, for example, the order in which they be listed within the categories of listing, except where prohibited by law. This applies to our mortgage or home equity products, as well as other home lending products. But this compensation does not influence the content we publish or the reviews that you read on this site. We do not cover the universe of companies or financial offers that may be open to you.
About our reviews Editorial disclosure: All reviews are prepared by our staff. The opinions expressed are solely those of the reviewer and are not reviewed or approved by any advertiser. The information that is included, including rates and fees that are included in the review are accurate up to the date when the review first appeared. Check the data at the top of this page and the lender's site for the most recent details.
A glance 4.0 Rating 4 stars out of 5
Bankrate Score
Available Rating: 3.5 stars out of 5
Cost of Affordability: 3.4 stars out of 5
Customer Experience Rating: 3.8 stars out of five
Transparency Rating 5 stars out of 5
Find out about rates for auto loan rates
About Credit Direct Loan amount $1,000 to $40,000
Min. credit score not specified
APR from 5.99%-29.99%
Funds available in up to 72 hours.
Credit Direct pros and cons Credit Direct's personal loans to purchase cars are accessible by borrowers with varying financial backgrounds, and you can get prequalified without affecting the credit rating. However, they are limited to a small number of states.
PROS Flexible loan amounts
No hard inquiry
Range of acceptance criteria
CONS is only offered in eleven states
Maximum loan amount of a small amount loan amount
Credit Direct is a personal loan marketplace that provides loans both directly and through its reliable partners to borrowers who are who are looking for loans. The car purchase loans offered through Credit Direct have a lower minimum loan amount than most of the other lenders, making them ideal for those looking to finance a smaller purchase. The loans are not secured, which means that the interest rates offered are usually a little higher.
Do you qualify? Credit Direct doesn't specify eligibility requirements on its website or via phone. However, it states that borrowers with all ranges of scores for credit are able to apply. In fact, you might be approved if you score falls between 500 and 600. You should also have a steady, verifiable source of income that permits you to pay your monthly payment. What we love and what do not like? Consider the risk and the benefits of an loan through Credit Direct brings.
What we like Flexibility: Drivers can take out loans as low as $1,000 which is ideal for purchasing a car in poor condition for parts. Additionally, you'll have the car for free as it's . A no-hassle inquiry can look at potential rates and terms without needing to submit an actual credit test. The range of criteria for acceptance: Credit Direct uses underwriting criteria that take more than credit history into consideration. We don't like the limited availability by state Credit Direct's personal loans are only available within 11 states. The maximum loan sum: A loan amount of $40,000 isn't enough to meet the minimum of $48,000 when it was the final year of 2022. How do I contact Credit Direct Credit Direct Credit Direct offers limited 24-hour support via its contact center at 866-414-4198. All support is available during normal working hours, which are 9 a.m. to 6 p.m. ET from Monday to Thursday, and 9 a.m. until 5 p.m. ET during Fridays.
Auto loan types offered Credit Direct provides personal loans that can be used to purchase new or used vehicles.
Loan quick facts Amounts: $1,000-$40,000 Terms: 12-60 months APR: 5.99%-29.99%
Credit Direct offers personal loans for auto purchases and repairs. An auto purchase personal loan from Credit Direct can be used to finance the purchase of your next car or to purchase another one to purchase parts. In contrast to a typical auto loan, by the car you're purchasing. The minimum loan amount is smaller than other auto loan companies, meaning that you don't need to borrow more than what you require. Additionally, you'll be able to take your money to the dealer you prefer. How to apply for an loan with Credit Direct The application process is completely automated via Credit Direct's website. Credit Direct site and takes just a few minutes, with no inquiry. As per the Credit Direct website, the procedure is easy and you will receive funds in as little as 48-72 hours with direct deposits. Choose the loan amount. Complete the online form by providing the essential information needed to verify your anticipated rates. Review loan options. In just a few moments, Credit Direct will present you with varying loan options to look over. Be attentive to the APR and length of term. Sign and accept. If the loan options meet your requirements You can complete the application through the internet. Receive the money. Finally, you will be able to receive your funds via direct deposit.
Required application information Social Security number, vehicle information Amount of loan Two months of Bank statements. One month's pay-stubs.. recently issued W2 government ID
Credit Direct FAQs
Are you sure that Credit Direct a direct lender or does it issue loans through third parties? Credit Direct both originates personal loans and relies on its network of lenders to assist borrowers in finding the most affordable deal.
Can you use a co-signer when applying using Credit Direct? Yes, co-signers may be added to loan applications to help or be eligible for more favorable conditions.
Does Credit Direct do a hard pull? A hard credit pull is only necessary if you accept an offer for a loan offer and proceed with a formal application. However, you can view potential rates by , which won't impact your credit score.
What rates do Bankrate offer Credit Direct
Overall score
4.0
Accessibility
3.8
Credit Direct only offers loans in 11 states. The low maximum loan amount is offset by flexible terms as well as a tiny minimum amount.
Affordability
3.4
Credit Direct scores decently due to its flexible underwriting guidelines however it still has high APRs in comparison to its competitors.
Customer experience
3.6
Although there is a limited 24-hour customer support via the call center, customers can only get full support during work hours.
Transparency
5.0
Credit Direct discloses expected rates and conditions as well as encourages applicants to prequalify.
Methodology Bankrate considers 18 data points when selecting top auto loans. Acceptance criteria, whether rates and fees are available and the APR range are all factors that affect lender scores. These scores are broken up in four different categories. Availability: Loan amounts, repayment options, dealership requirements, and availability in the state all are a part of this section. Affordability: This section contains APR ranges, acceptance criteria, fees and discounts. Customer experience: How long you'll have to wait to buy for, the customer service hours as well as whether an app is available and autopay payment options are all accounted for in this section. Transparency: This section accounts for the accessibility of rates and fees and whether prequalification is available.
Disclaimer Reviewers are supervised by Bankrate.com staff. The opinions expressed are solely the opinions of the reviewer and have not been reviewed nor accepted by any advertiser. The information such as rates and charges, presented in the review is correct up to the date that the review was written. Review the data on the right, and the lender's website to find the most up-to-date information.
(image: https://i.pinimg.com/originals/a6/6a/a5/a66aa53af454c31aa09a55a591048629.jpg)Written by
Rebecca Betterton
Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers to navigate the details of borrowing money to purchase the car they want.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate from late 2021. They are dedicated to helping readers gain the confidence to manage their finances through providing clear, well-researched facts that break down otherwise complicated topics into bite-sized pieces.
Auto loans editor
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