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Auto Approve Auto Lease Purchase
in Auto Loans from Auto Approve LLC
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Auto Approve Auto Lease Purchase

Claimed
in Auto Loans from Auto Approve LLC
SuperMoney Net Recommendation Score +33  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +33, equating to 3.7 on a 5 point rating scale.

+33

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Mostly recommended

4 users recommend
0 users are unsure
2 users don't recommend
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Highlights
Community Rating Mostly recommended
Credit Score Range 580 - 850
Loan Amount $7,500 - $150,000
APR  (Fixed APR) 2.94% - 19.99%
(Verified 09/09/2022)
Loan Term (Months) 12 - 84 months
Number of Reviews 6

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 Brooklyn Center, MN. Auto Approve Auto Lease Purchase is 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 2.94% 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.

To qualify for auto loans with Auto Approve Auto Lease Purchase, applicants need a minimum annual income of $24,000 or higher. Auto Approve Auto Lease Purchase will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Auto Approve Auto Lease Purchase. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Auto Approve Auto Lease Purchase. Permanent resident / green card holders are also eligible to apply.

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
  • 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 approve (or deny) a car loan application within 1 hour and 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 your account activity to the following credit reporting agencies:

  • 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 improve your credit.

Is Auto Approve LLC a legit company?

Auto Approve Auto Lease Purchase was founded in 2016. It is an established company that has been in business for 6 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Auto Approve LLC

Great service doesn’t end at refinancing. When your warranty runs out is when you most need coverage against wear and tear. Save money and bundle your payments when you add an extended auto warranty to your loan with Auto Approve.

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Other Services by Auto Approve LLC

Availability

  Available in 15 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana

Feature Breakdown

No Late Fees
No Prepayment Fee
Origination Fee ($) $399
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $24,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Loan Payoff Statements
  • Proof of Identity
  • Proof of Insurance
  • References
  • Business Formation Documents
  • Government Issued Photo ID
  • U.S. Tax Identification Number
Credit Score Range 580 - 850
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 2 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
  • Bank Transfer
Loan Amount $7,500 - $150,000
APR (Fixed APR) 2.94% - 19.99%
(Verified 09/09/2022)
Loan Term 12 - 84 months

Auto Approve Auto Lease Purchase Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +33, equating to 3.7 on a 5 point rating scale.

+33

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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