Last Updated: 04/18/2025
SuperMoney User Recommendation Score +29
Mostly recommended7 total votes
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Highlights
Community Rating
Mostly recommended
Amount Range
$7,500 - $150,000
APR (Fixed APR)
4.99% - 19.99%(Verified 04/17/2025)
Disclaimer popup with additional information
Credit Score Range
580 - 850
Loan Term (Months)
12 - 84
Number of Reviews
Auto Approve Auto Lease Purchase Review
Auto Approve Auto Lease Purchase is offered by Auto Approve LLC, a licensed broker founded in 2016 and based in North Plymouth, MN. Auto approve are available in 15 states and Washington, DC.
Auto approve FAQ
How much can you borrow via Auto approve?
Auto approve loan amounts start at $7,500 and go up to $150,000.
What APR does Auto approve offer on its car loans?
Auto approve offers a fixed apr car loan product that ranges from 4.99% APR up to 19.99% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
What is the maximum auto loan term you can get with Auto approve?
Auto approve has car loans with terms ranging from 12 to 84 months. Having the option of longer terms -- terms can range up to 144 months -- allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.
Does Auto approve charge an origination fee?
Yes, Auto approve may charge a loan origination fee of $399
Does Auto approve charge a late fee?
No, Auto approve will not charge you a late fee.
Does Auto approve charge prepayment fees?
No, Auto approve will not charge you a fee for paying your loan early. Whenever possible choose lenders like Auto approve that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.
Can I pay off early my Auto approve loan?
Yes, you can. Auto approve does not charge a prepayment fee, so you can save money by paying your car loan early.
What do you need to qualify for Auto Approve Auto Lease Purchase?
Applicants with a credit score of at least 580 and up to 850 may be eligible for Auto Approve Auto Lease Purchase. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Auto Approve Auto Lease Purchase does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders with a U.S. tax identification number are eligible to apply for the services offered by Auto Approve Auto Lease Purchase.
To qualify, applicants may need to provide the following documentation:
- Loan payoff statements
- Recent pay stubs
- Proof of income
- Business formation documents
- Proof of insurance
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
- Proof of citizenship or residence permit
- U.S. tax identification number
- References
What is the estimated funding time for a car loan via Auto approve?
Auto approve will typically fund the car loan within 2 business days of approval.Does Auto Approve Auto Lease Purchase report your account activity to credit bureaus?
Yes, Auto Approve Auto Lease Purchase reports to the following credit bureaus:
- Equifax
- Experian
- TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Auto Approve LLC perform a hard credit pull?
Yes, Auto approve performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is Auto Approve a legit company?
Auto Approve was founded in 2016, it is a well-established company that has been in business for 10 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
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