Auto Approve Auto Finance Review
Auto Approve is a good option for borrowers looking to refinance their loans or buy out their leases.
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Who is Auto Approve Best For?
Auto Approve is best for borrowers with existing loans or leases who want to get better rates on their loans or own their cars outright. You'll be able to prequalify for your rates too, allowing you to see how much you'll pay compared with your cost with other lenders.
However, you'll pay a variety of fees with Auto Approve. You may be able to avoid those with other lenders.
Auto Approve Details
Auto Approve is available in all 50 states. You're able to borrow between $5,000 to $85,000, with an APR that
Pros and Cons of Auto Approve Auto Loans
How to Apply for an Auto Approve Auto Loan
1. Send in relevant information. Auto Approve will need your personal, vehicle, and employment information, so have it at the ready.
2. Work with loan consultants to choose your preferred option. Auto Approve will then send your application to one of its partner lenders.
3. Work your loan payments into your budget. Make sure you can afford your loan payments — before you sign on the dotted.
4. Sign your new loan documents. Auto Approve will send you your new loan and title documents for your signature. Then, the company will fund your loan.
Auto Approve Frequently Asked Questions
Is Auto Approve trustworthy?
Auto Approve has an A+ grade from the Better Business Bureau, a nonprofit organization focused on consumer protection and trust. The BBB rates companies based on their responses to customer complaints, honesty in advertising, and openness about business practices.
The company hasn't been involved in any recent scandals. Between its clean history and top-notch BBB grade, you might feel comfortable borrowing from the lender.
What credit score is needed for Auto Approve?
Auto Approve does not disclose the minimum credit score needed for its auto loans. Generally, the higher your credit score, the more likely it is that you'll qualify for a loan. A better credit score also results in lower interest rates.
How much does Auto Approve cost?
The cost depends on your unique financial situation. Generally, you'll expect to pay a few hundred per month, though the cost will vary.
How Auto Approve Auto Loans Compare
Auto Approve vs. Chase
Chase is an option for borrowers who want new or used cards, while Auto Approve is a good choice for borrowers who want loan refinancing and lease buyouts.
Both lenders have wide loan amount ranges and allow you to prequalify for offers.
Auto Approve vs. Carvana
Both Carvana and Auto Approve allow you to prequalify for a loan. Carvana only lets you get a used car, while Auto Approve only refinances loans and offers lease buyouts.
Carvana offers a seven-day money back guarantee. If you figure out that you don't like the car during the first seven days you have it, contact Carvana. You will be refunded the price you paid for the vehicle, excluding any shipping or delivery charges. You are allowed to drive the car up to 400 miles and can return it for any reason.
How we rated Auto Approve
We evaluate all auto loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Borrower accessibility (15% of rating)
- Variety of loans (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.
Read more about how we rate auto loans >>