Open navigation Main Menu Mortgages
Financing a home purchase Refinancing your current loan Finding the right lender Additional Resources
Looking for a financial advisor? Do our 3-minute quiz and connect to an adviser today.
Main Menu Banking
Calculators to compare accounts Use the calculators and get advice Bank reviews
Looking for a financial advisor? Try our three minute test and connect with an advisor today.
Main Menu Credit cards
Compare by category Compare with credit requirements Compare by issuer Get advice
Are you looking for the perfect credit card? Narrow your search with CardMatch(tm)
Main Menu Loans
Personal Loans Student Loans Auto Loans Loan calculators
Find the perfect personal loan in 2 minutes or less. Answer a few questions to be offered loans, with no effect on the credit rating.
Main Menu for Investing
Best of Brokerages and robo-advisors Learn the basics Additional information
Looking for a financial advisor? Take our 3 minute quiz and match to an adviser today.
Main Menu Home equity
Find the most competitive rates Lender reviews. Calculators. base
Looking for a financial advisor? Try our three minute test and connect with an advisor today.
Main Menu Real estate
Selling a house Buying an investment property Finding the right agent Additional resources
Looking for a financial advisor? Do our 3-minute quiz and match to an adviser today.
Main Menu Insurance
Car Insurance Homeowners insurance Other insurance Company reviews
Looking for a financial advisor? Try our three minute test and then match up to an adviser today.
Main Menu Retirement
Retirement plans & accounts Find out the basics about retirement calculators Other resources
Looking for a financial advisor? Try our three minute test and then match up to an adviser today.
The search is open and closed.
Submit
Credit Direct
credit direct auto loans: 2023 review Published 2023-01-01-01 00:00:00
Writen by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the ways and pitfalls of taking out loans to purchase the car they want.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate since late 2021. They are dedicated to helping readers gain confidence to control their finances with clear, well-researched information that breaks down complicated subjects into digestible chunks.
Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering interactive financial calculators and tools as well as publishing high-quality and impartial content. We also allow users to conduct studies and compare information for free to help you make informed financial decisions. Bankrate has partnerships with issuers, including but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The products that are featured on this site are from companies that compensate us. This compensation may impact how and where products appear on the site, such as for instance, the order in which they appear within the listing categories and other categories, unless prohibited by law. This applies to our mortgage, home equity and other products for home loans. This compensation, however, does not influence the information we publish, or the reviews you read on this site. We do not cover the entire universe of businesses or financial offers that may be accessible to you.
About our reviews . Editorial disclosure Reviewers are supervised by staff. The opinions expressed in them are only those of the reviewer , and have not been reviewed or accepted by any advertising company. The information such as rates and charges provided in the review are accurate at the time that the review was written. Check the data on the right, and the lender’s site for the most recent details.
A quick glance 4.0 Rating 4 stars out five
Bankrate Score
Available Rating: 3.5 stars out of 5
Affordability Rating: 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 percent
Funds are available within 48 to 72 hours
Credit Direct pros and cons The credit direct personal loans to purchase cars can be accessed by people with varying financial backgrounds, and you can get prequalified without impacting the credit rating. But, they’re limited to a handful of states.
PROS Flexible loan amounts
No hard inquiry
The acceptance criteria can be varied.
CONS is only offered in eleven states
Small maximum loan amount
Credit Direct is a personal loan marketplace that provides loans both direct and via its dependable partner network to those looking for loans. The car purchase loans that are offered by Credit Direct have a lower minimum loan amount than other lenders, perfect for drivers seeking to finance a smaller purchase. The loans are unsecured, meaning that the rates of interest advertised tend to be slightly higher.
Do you qualify? Credit Direct doesn’t specify eligibility requirements on its website, or by phone. However, it states that borrowers with all ranges in credit score are welcome to apply. In fact, you may be approved if your score is between 500 to 600. Also, you must have a reliable, steady source of income that allows you to make timely monthly payment. What we like and what we do not like? Consider the risk and benefits that an loan through Credit Direct brings.
We love flexibility: Drivers can borrow as little as $1,000 — perfect for buying a car in poor condition to purchase parts. Plus, you’ll own the car outright as it’s . There is no hard inquiry: You are able to look up rates and terms without needing to submit a hard credit check. Range of acceptance criteria: Credit Direct uses underwriting criteria that take more than just credit history into consideration. We don’t like the limited availability in states Personal loans are only available in 11 states. The limit on loan size: A loan amount of just $40,000 isn’t enough to meet the minimum that surpassed $48,000 by the latter half of 2022. How do I contact Credit Direct Credit Direct Credit Direct offers limited 24-hour support via its call center , 866-414-4198. The full service is offered in its regular operating hours of 9 a.m. to 6 p.m. ET from Monday to Thursday and 9 a.m. to 5 p.m. ET for Fridays.
Auto loan kinds offered Credit Direct provides personal loans, which are used to purchase used or new vehicles.
Loan quick facts Amounts: $1,000-$40,000 Terms: 12-60 months APR: 5.99%-29.99%
Credit Direct offers personal loans for repairs and purchases of vehicles. A car purchase personal loan via Credit Direct can be used to finance your next vehicle or buy another to replace parts. Unlike a conventional auto loan that is based on the vehicle you’re purchasing. The minimum loan amount is much lower than most other auto loan service providers, so you don’t have to borrow more than you need. Also, you’ll have the option to take your cash to the dealership you prefer. How to apply for an loan through Credit Direct The application process is fully automatic via the Credit Direct site and takes just a few minutes, with no inquiry. Based on Credit Direct’s Credit Direct website, the process is simple and you can get funds in as little as 48 to 72 hours via direct transfer. Select loan amount. Fill in the online form with all the essential information needed to verify your expected rates. Review loan options. In just a few just a few minutes Credit Direct will present you with several loan options for you to consider. Pay attention to the APR and term lengths. Accept and sign. If the loan offerings fit your needs You can complete the application on the internet. You will receive the funds. Then, you’ll receive the funds through direct transfer.
Information required for the application: Social Security number Vehicle information The amount of the loan Two months of Bank statements. One month’s pay-stubs. Most recent W2 Government ID
Credit Direct FAQs
Is Credit Direct a direct lender or does it issue loans through third-parties? Credit Direct both originates personal loans and depends on its network of lenders to help borrowers find the best price.
Can you use co-signers when you apply through Credit Direct? Yes, co-signers are able to be included in loan applications to assist or be eligible for more favorable terms.
Does Credit Direct do a hard pull? A credit pull that is hard is only necessary if you agree to an offer for a loan offer and proceed with a formal application. You can however, look up the potential rate by using , which won’t impact the credit rating.
What are the rates of Bankrate? Credit Direct
Overall score
4.0
Availability
3.8
Credit Direct only offers loans in 11 states. Its modest maximum loan amount is offset by flexible terms and a small minimum amount.
Affordability
3.4
Credit Direct scores decently due to its flexible underwriting requirements however, it has a high APR in comparison to its competitors.
Customer experience
3.6
While there is limited 24/7 customer support via the call center, customers can only contact the center for assistance during the workweek.
Transparency
5.0
Credit Direct discloses expected rates as well as terms, and encourages prequalification.
Methodology Bankrate considers 18 data points when selecting top auto loans. Acceptance criteria, charges and rates are offered and the APR range are all factors that affect lender scores. These scores are broken up into 4 categories. Accessibility: Loan amounts and repayment options, dealership requirements and availability to state are a part of this section. Affordability: This section contains APR ranges and acceptance criteria, as well as fees and discounts. Customer experience: How long you’ll need to shop and the availability of customer service, whether there’s an app and autopay availability are accounted for in this section. Transparency: This category is responsible for the availability of fees and rates along with whether or not prequalification is offered.
Disclaimer The reviews are written by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer , and have not been reviewed nor acknowledged by any advertising company. The information, including rates and fees provided in the review is correct up to the date of the review. Look over the information on the right as well as the lender’s website to find the most current information.
Written by
Rebecca Betterton
Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers in navigating the ways and pitfalls of taking out loans to purchase an automobile.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate from late 2021. They are enthusiastic about helping readers gain confidence to control their finances through providing clear, well-researched information that breaks down complicated topics into bite-sized pieces.
Auto loans editor
About
Help
Legal Cookie settings Don’t sell my personal information
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 website. So, this compensation can influence the manner, place and in what order the items appear in listing categories, unless the law prohibits it for our mortgage, home equity and other home loan products. Other factors, such as our own website rules and whether or not a product is offered in the area you reside in or is within your personal credit score could also affect the manner in which products appear on this site. While we strive to provide an array of offers, Bankrate does not include specific information on every credit or financial product or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
|
(c) 2023 Bankrate, LLC. The Red Ventures company. All Rights Reserved.
For those who have virtually any questions regarding wherever and also how to employ hawaii payday loans online same day deposit – dollars-aw.site -, you’ll be able to contact us with the web site.