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Auto Credit Express
Auto Credit Express: 2023 Auto loan review published 2023-01-01 at 00:00:00
Authored 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 borrowing money to purchase a car.
The edit was done by 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 confidence to manage their finances with precise, well-studied information that breaks down complicated topics into manageable bites.
Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make smarter financial decisions by offering interactive financial calculators and tools, publishing original and objective content. We also allow you to conduct research and compare information for free - so that you can make informed financial decisions. Bankrate has partnerships with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this site are from companies who pay us. This compensation may impact how and when products are listed on this website, for example, for example, the order in which they be listed within the categories of listing, except where prohibited by law for our loan products, such as mortgages and home equity, or other home lending products. However, this compensation will affect the information we provide, or the reviews that you see on this site. We do not contain the universe of companies or financial offerings that could be available to you.
About our reviews Editorial disclosure: All reviews are prepared by staff. The opinions expressed are solely the opinions of the reviewer and are not checked or approved by any advertising company. The information that is included, including rates and fees provided in the review is accurate as of the date that the review was written. Check the data in the upper right hand corner of the page and the lender's site for the most up-to-date information.
A quick glimpse 3.6 Rating: 3.6 stars out of five
Bankrate Score
Rating of Availability: 3.7 stars out of 5
The Affordability Score: 3.4 stars out of 5
Customer Experience Rating: 3.4 5 stars. 5
Transparency Rating 4 .
Compare rates for auto loan rates
About Auto Credit Express Loans from between $5,000 and $45,000
Min. credit score not specified
The APR Varies by lender
Funds will be available as early as the day you make your application
Auto Credit Express features Auto Credit Express allows the possibility of owning a car for those with bad credit, yet they can be a bit expensive.
PROS Credit scores that are not good loans
Encourages co-signers
Minimum monthly income requirements for low-income families
CONS Limited vehicle inventory
Limited transparency
Limited customer support
Auto Credit Express serves as a lender marketplace primarily serving drivers with poor credit or no credit, as well as those who have previously been denied because of bankruptcy. Its mission is to help people get loans from a reputable dealer even if they have less than perfect credit. Auto Credit Express works with over 900 dealers across country to fit the needs of every driver for new, used and refinance loans.
Do you qualify? The exact requirements differ based on the lender, but Auto Credit Express outlines the principal requirements for applying to get a bad credit loan. You must be at least 18 years old. A minimum of $1,500 in monthly income. Proof of residence and address residency. Three years of employment history without major gaps Full-time employment for at least 6 months or any other fixed income. Able to obtain auto insurance from six to eight references from personal sources When you are looking for bad credit loans you can also expect to make a down payment of at least $1,000 or 10 percent of the selling price of the car. In the event of a lender agreement, the borrower can be expecting a hard credit investigation.
What we like and what we don't like Weigh the advantages and disadvantages of a loan through Auto Credit Express prior to applying for a loan.
What we like Specialize on bad credit loans. Auto Credit Express partners directly with bad credit lenders to help people with poor credit access to auto loans. Encourages co-signers. Adding a co-signer will help bad credit drivers receive competitive rates. A low monthly income requirement. Auto Credit Express as a minimum monthly income requirement of $1500. What we do not like is limited vehicle inventory. You'll be stuck with cars from dealerships that partner with us. A lack of transparency. There is no information about possible APRs on its website. Limited customer support. Assistance is only available during the week. Contact information for Auto Credit Express Customer support is through an online form or by calling at 855-439-0814. Agents are available from Monday to Friday from 8:30 a.m. until 5:30 p.m. ET.
Auto loan types offered Auto Credit Express offers loans for the purchase of new or used vehicles, loans, refinancing, cash-out refinance, and leasing. Finance is available between $5,000 and $45,000. Used and new auto loans
The loan amount is Between $5,000 and $45,000 Terms of the loan: 36 to 72 month APR: Varies by lender
If you're looking to finance a used or new vehicle, Auto Credit Express offers various options via their lender network. Rates and terms can vary, however available loans cater directly to drivers with bad, good or no credit history at all. If you are buying new, you'll only be limited to Auto Credit Express's partner dealerships. Refinance
The loan amount is Between $5,000 and $45,000 Terms of the loan: 36 to 72 month APR: varies by lender
Refinancing the current auto loan can be a great alternative to reduce your monthly payment and adjust your interest rate. While Auto Credit Express does not disclose specific credit requirements on its website, it does state that most lenders approve drivers who have "good" or above average credit. Thus, although Auto Credit Express specializes in bad credit loans, refi is more suited to those with better credit. How to apply for a loan using Auto Credit Express An application using Auto Credit Express can be done fully online or via the phone. It's likely to take less than three minutes and you can be matched to a dealer within 24 hours of your application. If you're connected to an lender it will send you a call from the local dealer if you're buying new or used and then you will be able to choose your vehicle.
Required application information Full name and Social Security number Birth date, address and the time that you have been living there Email address and telephone number Housing payment information Employment information Monthly income
Auto Credit Express FAQs
Are you able to use Auto Credit Express to find lease financing? Yes, you can utilize Auto Credit Express to find leasing financing options, even if you have less than perfect credit.
Can bankruptcy stop you from being approved for an auto loan via Auto Credit Express? Auto Credit Express can help you get an auto loan during or after bankruptcy. Ideally, you should aim for a vehicle with an affordable price you can make a downpayment that is the lesser of 10% of the sale price or $1000, and bring a cosigner on board (if possible).
How do rates at Bankrate work? Auto Credit Express
Overall score
3.6
The availability
3.7
Although used, new and refinancing loans are available, the dealership requirement or middle-tier loan amounts will result in a lower score.
Affordability
3.4
Acceptance criteria target those with low credit scores, however with terms and rates that vary by the lender, affordability is tough to measure.
Customer experience
3.4
With the short hours and poor online reviews, the customer service slants lower.
Transparency
4
Auto Credit Express lacks transparency around the terms and rates however, it does offer prequalification.
Methodology Bankrate considers 18 data points when rating auto loan lenders. Acceptance criteria, whether rates and fees are available and APR range all influence lender scores. These scores are broken up into four categories. Accessibility : Loan amounts, repayment options, dealership requirements and state availability all are a part of this section. Affordability: This section contains APR ranges and acceptance criteria, along with discounts and fees. Customer experience: How long you'll need to spend shopping, customer service accessibility, and whether or not autopay or an app are available and availability are covered within this category. Transparency: This section accounts for the accessibility of rates and fees along with whether or not prequalification is offered.
Disclaimer The reviews are written by Bankrate.com staff. The opinions expressed in the review are only the views of the reviewer. They have not been reviewed or approved by any advertising company. The information such as rates and charges that are included in the review is correct at the time that the review was written. Look over the information on the right, and the lender's website to find the most current details.
Written by
Rebecca Betterton
Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the ins and outs of securely using loans to buy the car they want.
The edit was done by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate since the end of 2021. They are passionate about helping readers gain confidence to take control of their finances by providing concise, well-researched and well-researched content that breaks down complicated subjects into bite-sized pieces.
Auto loans editor
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How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or for you clicking certain hyperlinks on our site. So, this compensation can affect the way, location and in what order items are listed and categories, unless it is prohibited by law. This is the case for our mortgage, home equity and other home loan products. Other factors, like our own proprietary website rules and whether a product is available in your area or at your self-selected credit score range could also affect how and where products appear on this site. Although we try to offer a wide range offers, Bankrate does not include details about every financial or credit product or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
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