We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.
Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.
Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.
|Willing to work with people with lower credit scores||Loan rates and terms vary depending on the lender|
|May have low down payment requirements||You must work with a dealer in the Auto Credit Express dealership network|
|Minimal qualification requirements||You may end up with a high interest rate|
What you need to know about Auto Credit Express auto loans
Auto Credit Express doesn’t offer auto loans directly. Instead, it connects you with dealers and lenders across the country who might be able to give you a car loan. Here are some important things to know about Auto Credit Express auto loans.
You’ll have a range of loan options
Through its dealership and lender network, Auto Credit Express offers financing for …
- New-car purchases
- Used-car purchases
- Car loan refinancing
You might have better odds of approval
Though Auto Credit Express works with more than 1,350 dealers, it’s impossible to say for sure whether you’ll qualify for an auto loan. Each lender’s minimum requirements for car loans will vary.
But the company lists two key requirements: You must be at least 18 years old and have a monthly income of at least $1,500. A full-time job or some other form of fixed income can also help increase your odds for approval.
The company doesn’t specify a minimum credit score requirement, and some dealers in its network are willing to work with people who have declared bankruptcy or had a car repossessed in the past. So don’t forget that even if you think you have bad credit, you may still have options with Auto Credit Express.
You don’t need to put a lot down
Through Auto Credit Express, you may be able to get a loan with a lender who requires little or nothing for a down payment on a car loan.
But remember that the more money you put down on a car, the less you have to borrow. And a lower loan amount could mean lower monthly payments and less total interest paid. If you can put more down, it’s likely well worth it.
Your dealership options will be limited
With a loan through the Auto Credit Express network, you’ll be limited to buying a car through a participating dealership.
That may not be a bad thing, especially if you don’t know dealers or lenders that work with people with credit problems. By going through Auto Credit Express, you can be paired with a dealer or lender that may approve you based on the information you provide. In other words, Auto Credit Express does some shopping around for you.
But before you sign any loan paperwork, be sure you understand the loan terms. Some dealerships within the Auto Credit Express network offer in-house financing. Some of these lenders may offer “buy-here, pay-here” financing that often comes with sky-high interest rates.
A closer look at Auto Credit Express auto loans
If you’re considering applying for a loan from an Auto Credit Express partner, here are some other details to know.
- Auto Credit Express won’t do a hard credit inquiry when you submit your initial prequalification application — but their partner dealerships may run a hard or soft inquiry before sharing loan options with you.
- Co-signers are allowed.
- You can trade in your current vehicle and use its value as a down payment.
- Dealers in the Auto Credit Express network offer loans up to $35,000.
Is an Auto Credit Express auto loan the right fit for you?
A loan through an Auto Credit Express partner may be ideal if you can’t qualify for an auto loan elsewhere because of bad credit or previous financial problems, like bankruptcy.
By connecting you with a dealership or lender, Auto Credit Express can help you avoid applying with multiple auto lenders. Shopping within a specific timeframe (typically from 14 to 45 days) may only count as a single inquiry, depending on the credit scoring model used — but it can be time-consuming.
If your credit is considered “good” or even “excellent,” you may be better off working directly with a lender, like a bank, credit union or online lender. In this case, you may be able to land more favorable terms, like a better interest rate.
How to apply for a loan through Auto Credit Express
You can complete the loan request form online or over the phone in just a few minutes. If you’re filling out the form online, take the following steps.
Share some basic information, including your name, address, monthly income, housing situation, employment information, Social Security number, date of birth and contact information.
You’ll also want to specify whether you have a co-signer, and read the terms and conditions carefully.
Once you apply, you could find out if you’re qualified within 24 hours. Auto Credit Express can match you with a new or used car dealer or lender in your area, based on the information you provide. If there’s a match, you’ll receive a call from a dealership in your area to pick a car, provide the necessary documents and finish the process.
Auto loan alternatives to consider
Auto Credit Express can do a lot of the work in helping you find a lender and a dealership that wants to work with you. If you aren’t sure whether a loan through Auto Credit Express is right for you, here are a couple of alternatives to consider.
- Capital One auto loan: Capital One could be a good fit for someone who wants to get an idea of estimated rates right away.
- RoadLoans auto loan: RoadLoans might be ideal for someone who wants more dealership options.