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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 has a specialization in helping readers with the ways and pitfalls of using loans to buy an automobile.

The edit was done by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate from late 2021. They are committed to helping readers gain confidence to control their finances by providing clear, well-researched information that breaks down complicated topics into manageable bites.

Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our aim is to assist you make better financial decisions by offering interactive tools and financial calculators, publishing original and objective content. We also allow you to conduct research and compare data for free and 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 who pay us. This compensation could affect how and where products appear on this site, including such things as the order in which they may be listed within the categories of listing and other categories, unless prohibited by law. Our mortgage or home equity products, as well as other products for home loans. But this compensation does have no impact on the content we publish or the reviews you read on this site. We do not include the vast array of companies or financial deals that may be open to you.

Reviewer’s disclosures The reviews are written by our staff. The opinions expressed in them are only the opinions of the reviewer and have not been reviewed or accepted by any advertising company. The information, including rates and fees that are included in the review are accurate up to the date that the review was written. Look over the information at the top of this page, and the lender’s website to find the most current details.

A quick glance 4.0 Rating: 4 stars out of 5

Bankrate Score

Available Rating: 3.5 stars out of 5

The Affordability Score: 3.4 stars out of five

The Customer Service Rating is 3.8 5 stars from five

Transparency Rating Five stars from five.

Find out about rates on auto loan rates

About the amount of a Credit Direct Loan, which is $1,000 to $40,000

Min. credit score not specified

APR from 5.99%-29.99%

Funds are available within up to 72 hours.

Credit Direct pros and cons The credit direct personal loans for car purchases are available to borrowers with different financial backgrounds and can be prequalified and not affect your credit score. But, they’re restricted to a few states.

PROS Flexible loan amounts

No specific inquiry

Acceptance criteria for a range of categories

CONS is only offered in eleven states

A small maximum loan amount

Credit Direct is a personal loan marketplace that provides loans both directly and through its dependable partner network to borrowers looking for loans. The vehicle purchase loans provided by Credit Direct have a lower minimum loan amount than other lenders, perfect for drivers who want to finance a less costly purchase. The loans are not secured, which means that the interest rates advertised tend to be a bit higher.

Do you qualify? Credit Direct doesn’t specify eligibility criteria on its website or by phone. However, it states that all borrowers in the range in credit score are welcome to apply. In fact, you may be approved if your score is between 500 to 600. Also, you must be able to prove a stable, reliable source of income which allows you to make timely monthly payment. What we like and what don’t like Consider the risks and advantages of a loan through Credit Direct brings.

We love flexibility drivers can get loans of as little as $1000 which is ideal for purchasing a car in poor condition to purchase parts. In addition, you’ll be able to have the car for free since it’s being . A no-hassle inquiry can view potential rates and terms without needing to submit an in-depth credit assessment. Range of acceptance criteria: Credit Direct uses underwriting criteria which take more than the credit history into account. We are not happy with the lack of availability in states Credit Direct’s personal loans are available only across 11 states. A small maximal loan size: A maximum loan amount of $40,000 will not even cover the average of $48,000 when it was the final year of 2022. Contact details for Credit Direct Credit Direct Credit Direct offers limited support 24 hours a day via its contact center at 866-414-4198. The full service is offered in its regular working hours, which are 9 a.m. to 6 p.m. ET Tuesday through Thursday and 9 a.m. to 5 p.m. ET on Fridays.

Auto loan varieties available Credit Direct provides personal loans that can be used to buy 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 to repair or purchase vehicles. A personal auto purchase loan from Credit Direct can be used to finance your next vehicle or to purchase another one for parts. Unlike a conventional auto loan, by the car you’re buying. Its minimum loan amount is significantly less than the majority of other auto loan companies, meaning you don’t have to borrow more than what you require. You’ll also have the flexibility to transfer your funds to the dealer you prefer. How to apply for a loan through Credit Direct The application process is completely automatized through Credit Direct’s website. Credit Direct site and takes just a few minutes, with no inquiry. According to Credit Direct’s Credit Direct website, the process is simple and you will receive the funds within 48-72 hours with direct transfer. Choose the loan amount. Complete the online form with all the necessary information to check your anticipated rates. Check out loan options. In just a few minutes, Credit Direct will present you with varying loan options for you to consider. Be attentive to the APR and term lengths. Sign and accept. If you feel that the loan offers meet your needs, you can finalize the loan through the internet. Receive funds. Finally, you will receive the funds through direct payment.

Information required for the application: Social Security number, vehicle information Loan amount Two months of all bank statements One month of pay stubs. Most recent W2 Government ID

Credit Direct FAQs

Are you sure that Credit Direct a direct lender or does it provide loans through third-party lenders? Credit Direct both originates personal loans and depends on its lender network to assist customers in finding the best deal.

Can you use co-signers when you apply through Credit Direct? Yes, co-signers may be included in loan applications to aid in determining whether you get more favorable terms.

Does Credit Direct do a hard pull? A hard credit check is only required when you take a loan request and then proceed with a formal application. You can however, look up potential rates by the way, and it won’t affect the credit rating.

What rates do Bankrate offer Credit Direct

Overall score

4.0

Accessibility

3.8

Credit Direct only offers loans in 11 states. Its low max loan amount is compensated by flexible terms and a modest minimum amount.

Affordability

3.4

Credit Direct scores decently due to its flexible underwriting criteria but still holds steep APRs when compared with competitors.

Customer experience

3.6

While there is no 24/7 helpline support Customers can only contact the center for assistance during the workweek.

Transparency

5.0

Credit Direct discloses expected rates as well as terms, in order to encourage prequalification.

Methodology Bankrate considers 18 data points when selecting top auto loans. Criteria for acceptance, whether charges and rates are offered and the range of APR all affect lender scores. These scores are split into 4 categories. Accessibility: Loan amounts and repayment options, dealership requirements and availability to state are a part of this category. Affordability: This section houses APR ranges, acceptance criteria, fees and discounts. Customer experience: The length of time you’ll have to wait to buy and the availability of customer service, whether there’s an app and autopay payment options are all accounted by this category. Transparency: This category is responsible for the accessibility of rates and fees as well as whether prequalification is available.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. The opinions expressed are solely the opinions of the reviewer and have not been reviewed nor approved by any advertiser. The information, including rates and fees provided in the review are accurate at the time of the review. Look over the information in the upper right hand corner of the page, and the lender’s site for the most current details.

Written by

Rebecca Betterton

Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers to navigate the details of using loans to buy the car they want.

Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are passionate about helping readers gain confidence to manage their finances by providing concise, well-researched and well-written data that breaks otherwise complicated subjects into digestible pieces.

Auto loans editor

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