Auto Credit Express vs. CarsDirect: Which offers better auto loans?
Auto Credit Express and CarsDirect both offer bad credit auto loans through a lender network. They are even owned by the same parent company, Internet Brands. Both companies also offer vague and nonspecific information on their websites. It’s hard to tell what the qualification requirements and loan details are for either company.
However, the lenders do have a few differences. CarsDirect is better for people looking for everything they need to buy a car in one place. The company connects customers to both car dealers and auto loan lenders. Auto Credit Express is best for those who want a few more details upfront and want to know the company has a good reputation.
Auto Credit Express vs. CarsDirect at a glance
While there are few details available online for both companies, here’s what we do know about them.
| Auto Credit Express | CarsDirect | |
|---|---|---|
| Bankrate score | 3.3/5 | 3.5/5 |
| Better for |
|
|
| Loans offered |
|
|
| Loan amounts | $5,000–$45,000 | Varies by lender |
| APRs | Varies by lender | Not specified |
| Loan term lengths | 36–72 months | Varies by lender |
| Fees | None specified | None specified |
| Minimum credit score | Not Specified | Not specified |
| State footprint | Not specified | Not specified |
| Time to funding | As soon as the day you apply | Typically 1-2 days |
| Autopay discount? | Varies by lender | Varies by lender |
| Refinancing restrictions | Varies by lender | Varies by lender |
Auto Credit Express
-
Auto Credit Express connects individuals with bad credit to lenders. Its partners provide a variety of specialty auto loan options, including bad credit loans, bankruptcy loans and military auto loans.
Auto Credit Express refinance loans give vehicle owners the opportunity to refinance if their credit score has improved or they would like a different repayment term.
-
Pros
- Flexible underwriting criteria: The lender considers more than just credit scores when evaluating rates, including employment and income.
- Co-signers allowed: Borrowers are encouraged to add a co-signer to the loan which can help those with poor credit secure a better rate.
- Low minimum income requirement: Borrowers only need to have a monthly income requirement of $1,500 to qualify.
Cons
- Limited customer support: The company does not offer customer support for borrowers on weekends.
- Unspecified APR: The lender doesn’t share rate ranges on its website, making it hard to compare them with other lenders.
- Limited inventory: If you’re buying a new car, you must purchase from one of Auto Credit Express’s partner dealerships. While they have more than 4,400 partners, many other lenders let you buy from any dealership.
CarsDirect
-
Since 1998, CarsDirect has connected drivers with auto loans and new and used cars for sale. They cater to customers with all types of credit, including bad credit. CarsDirect is not a lender. Like Auto Credit Express, it’s a loan marketplace.
Additionally, CarsDirect has a car shopping platform. While you don’t need to purchase the car you’re funding through CarsDirect, the ability to do so adds convenience.
-
Pros
- Bad credit loans: Like Auto Credit Express, CarsDirect caters specifically to those with poor credit who require vehicle financing.
- Minimal fees: There are no additional fees enforced when shopping for a vehicle or loan, though some lenders may charge additional fees.
- Large lender network: CarsDirect works with a large lender network, which can make it easier to find a lender that fits each borrower's specific needs.
Cons
- Unspecified rates: The lender does not share its minimum or maximum APR. Loan terms are also not public which can make it challenging to predict your monthly payment.
- Poor customer reviews: Many online reviews complain about CarsDirect’s poor service along with the most serious, distribution of personal information.
- Minimal information available: The CarsDirect site does not disclose many requirements online for borrowers.
How to choose between Auto Credit Express and CarsDirect
The two lending services are fairly similar, but Auto Credit Express has a better reputation. On the other hand, CarsDirect offers full service by helping you find car dealers and auto loans all in one place.
Choose Auto Credit Express if you want the more trustworthy option
Both companies are very similar — they are even owned by the same parent company. However, Auto Credit Express seems to have a better reputation. The lending service has an A+ rating from the Better Business Bureau, though not all reviews are positive. Meanwhile, CarsDirect has no BBB accreditation and many unhappy reviews. If you want the option with a better reputation, Auto Credit Express wins that award.
Choose CarsDirect for a full-service experience
CarsDirect doesn’t just offer to connect you with lenders for auto loans. They can also connect you with both new and used car dealers. Auto Credit Express only offers auto loan and leasing options.
If you want to do everything in one place, CarsDirect is the best option. The lender can help you find a local car dealer for the type of car you want. Then, they can connect you with the financing you need to purchase the car
Compare more lenders before applying
If you are looking for a bad credit auto loan, both CarsDirect and Auto Credit Express can probably help you. But other lenders serving bad-credit customers earn better Bankrate ratings and offer more upfront transparency. Before you decide on a lender for a new or refinance auto loan, weigh multiple lender options to find the top option. Compare to find the best rates and terms.
