Auto Approve Auto Refinance Review

Auto Approve Auto Refinance is an auto loan refinance offering by Auto Approve LLC, based in Maple Grove, MN. Founded in 2016, Auto Approve LLC offers auto refinance loans in 50 states (and Washington, DC).

How much can you borrow via Auto Approve Auto Refinance?

Auto refinance loan amounts start at $7,500 and go up to $150,000.

What are the auto loan refinancing rates offered through Auto Approve Auto Refinance?

Auto Approve Auto Refinance offers a fixed APR auto loan refinancing product that ranges from 2.99% APR.

What is the maximum loan term you can get with Auto Approve Auto Refinance?

Auto Approve Auto Refinance offers auto refinancing with terms ranging from 12 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

Does Auto Approve Auto Refinance charge an origination fee on auto refinance loans?

Yes, Auto Approve Auto Refinance charges a loan origination fee of $399.

Does Auto Approve Auto Refinance charge a late fee?

No, Auto Approve Auto Refinance will not charge you a late payment fee.

Does Auto Approve Auto Refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for Auto Approve Auto Refinance?

Applicants with a credit score of at least 500 and up to 850 are eligible for Auto Approve Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loan refinancing with Auto Approve Auto Refinance, applicants need a minimum annual income of $18,000 or higher. Auto Approve Auto Refinance will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

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 Refinance. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

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
• References

What is the maximum mileage to refinance with Auto Approve LLC?

Auto Approve LLC is an option for high-mileage vehicles. They will consider auto loan applications for vehicles with up to 150000 miles on the odometer.

What is the maximum car age to refinance with Auto Approve LLC?

Only vehicles that are 10 years old or less can qualify for an auto refinance.

What is the estimated funding time for an auto loan refinance with Auto Approve Auto Refinance?

Auto refinance loan applications are typically approved (or denied) within 1 hour and funded within 1 to 2 days of approval.

Does Auto Approve Auto Refinance report your account activity to credit bureaus?

Auto Approve Auto Refinance 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 can help improve your credit score.