Auto Credit Express: Auto Loans for Any Credit

About Auto Credit Express

ACE is a financial services company that connects individuals with auto loan opportunities, particularly those who struggle to secure financing through traditional channels. Founded in 1999 in Auburn Hills, Michigan, the company has focused on addressing customers' needs with less-than-perfect credit by partnering with auto dealers and lender networks across the United States and Canada.

The company aims to facilitate access to auto financing, offering solutions to customers who might otherwise face challenges due to poor or no credit history. Over the years, ACE has expanded their reach, assisting millions of customers in finding financing options that suit their unique financial situations.

The company offers auto financing services, including poor credit auto loans, new and used vehicle purchases, and auto leasing options. The company also provides refinancing services for existing auto loans and specialized loans for individuals who recently filed for bankruptcy.

Their application process typically involves matching customers with suitable lenders from their extensive network based on the customer's financial profile and needs. This process is designed to streamline the loan application, making it easier for customers to navigate the complexities of securing auto financing. ACE also offers tools like loan calculators and estimators to help customers understand their potential loan terms before applying.

They have an A+ rating from the Better Business (BBB) profile and have been accredited since 2004.

Auto Credit Express Loan Options

ACE offers several loan options, such as:

Loan matching
The company connects customers with a network of auto dealers and lenders specializing in financing individuals with poor or no credit. The service matches customers with lenders based on their financial situation and credit profile, which may improve the likelihood of securing financing.

Bad credit auto loans
They provide access to auto loans for individuals with bad credit, low credit scores, or no credit history. This service includes options for those previously declined due to bankruptcy or repossession, allowing them to obtain financing through lenders who work with higher-risk borrowers.

Purchase loans
ACE offers financing options for purchasing new and used vehicles through their network of dealers and lenders. Customers can explore a range of vehicle choices while obtaining financing that aligns with their credit status.

Leasing
The provider assists customers in leasing vehicles by connecting them with dealerships that offer lease agreements, regardless of credit history. Leasing can be an alternative to purchasing, often involving lower monthly payments and different financial requirements.

Refinancing
They provide options for refinancing existing auto loans, such as traditional refinancing to secure better terms or cash-out refinancing to access the vehicle's equity. This service could be helpful for those seeking to modify their loan conditions.

Bankruptcy auto loans
ACE facilitates access to auto loans for individuals who have filed for Chapter 7 or Chapter 13 bankruptcy. These loans are structured to address the needs of those with bankruptcy records, offering them an opportunity to finance a vehicle post-bankruptcy.

Prices & Cost

They do not charge any fees directly to the consumer and do not directly offer interest rates, as ACE is a loan matching service that connects borrowers with a network of lenders and dealers. The lenders determine the interest rates offered to borrowers through ACE with which they are matched, and these rates can vary widely based on several factors, including credit score, loan term, and other financial conditions.

Advantages

Flexible approval requirements
Auto Credit Express may have less stringent approval criteria than traditional lenders. For instance, they may consider applicants with a minimum monthly income of $1,500 to $2,000 and at least six months of employment, offering a broader scope of eligibility for individuals who do not meet conventional lending requirements.

Special rates for military members
ACE includes options for active-duty and retired military members, providing access to potential discounts and special loan rates through specific lenders in their network.

Tools and resources
ACE offers online tools like car loan estimators and payment calculators. These tools allow customers to estimate loan amounts and monthly payments. Additionally, they provide information on debt consolidation, insurance, and used car warranties through associated partners.

Potential Drawbacks

Limited to dealers within the ACE network: Customers are restricted to purchasing vehicles only from Auto Credit Express network dealers. This limitation may reduce the variety of available cars and lead to higher prices than the broader market.

Higher rates with subprime or BHPH lenders: ACE often works with subprime lenders or Buy Here, Pay Here (BHPH) dealers specializing in financing individuals with poor credit. These lenders typically offer higher interest rates, which can lead to more expensive loans overall, increasing the total cost of the vehicle.

Potential for hard credit check: Some ACE network lenders may ask hard questions about a customer’s credit report during application. Hard inquiries can temporarily lower a person's credit score, which might concern those with poor credit.

Social Security number required for application: Customers must provide their Social Security number to submit an initial application with ACE. This requirement could raise privacy concerns for some individuals, as sharing sensitive personal information carries inherent risks, especially if they are only in the preliminary stages of exploring financing options.

User Experience

ACE is one of the top-rated auto loan providers, earning 4.5 out of 5 stars on Trustpilot from over 3,108 customer reviews. They also have an A+ rating and BBB accreditation. However, their BBB business profile shows a 1 out of 5 customer rating based on 7 reviews.

Positive feedback

Some customers have expressed satisfaction with ACE's efforts to connect them with dealerships, particularly those that cater to individuals with unique credit situations. Positive reviews appreciated the opportunity to work with dealerships that might have been difficult to locate independently.  The company’s prompt responses to complaints and willingness to remove customers from contact lists upon request were also noted as positives. Despite difficulties, one customer mentioned that they ultimately bought a car from a dealership associated with Auto Credit Express.

Negative feedback

However, there were a number of complaints that reported significant issues with the service. Common complaints include misleading advertising, where customers believed ACE was a direct lender, only to discover they were a third-party service connecting them to dealerships. Several customers were frustrated by the high volume of phone calls and emails after submitting their information, even after requesting removal from contact lists. Issues with hard credit inquiries, which negatively impacted credit scores without clear communication or approval from the customer, were also frequently mentioned. 

Company responses

ACE responds to customer complaints by clarifying that they are not a direct lender and do not pull credit directly. They emphasize their role in connecting consumers to dealerships that can assist with challenging credit situations. The company also acknowledges customer dissatisfaction but reiterates that loan approvals depend on the qualifications set by the dealerships and lenders they work with. The company sometimes apologizes for any confusion or inconvenience and removes customers from their contact lists as requested.

Resources & Customer Support

If you have further questions, contact their customer service team at 866.902.4403 or fill out their online contact form with your message or inquiry on the Auto Credit Express website. 

Are They the Right Provider for You?

Auto Credit Express (ACE) seems to be a valuable resource for individuals seeking auto loans, regardless of their credit situation. With their extensive network of lenders and dealerships across the US and Canada, ACE offers flexible financing options that cater to a wide range of financial profiles, including those with poor or no credit. The company’s services, which include loan matching, bad credit auto loans, and refinancing options, make it easier for consumers to navigate the often complex world of vehicle financing.

However, while ACE provides a broad range of services, potential borrowers should be aware of some limitations, such as being restricted to dealers within the ACE network and the possibility of higher interest rates through subprime lenders. Customer experiences with ACE have been mixed, with positive feedback highlighting their ability to connect customers with hard-to-find dealerships and criticism regarding communication issues and handling credit inquiries.

This provider may be a strong option for those who need assistance securing an auto loan, particularly if they have struggled with traditional lenders. As with any financial service, it's essential to carefully consider the terms and conditions before proceeding and to explore all available options to ensure the best possible outcome for your car purchase. 

Our comprehensive reviews provide insight into the various auto loan service industry options. Furthermore, our blog posts offer additional information about the industry and help you make the best financial decisions. Our unique comparison tool assists you in narrowing down your options.