Auto Approve Auto Refinance
in Auto Loan Refinancing from Auto Approve LLC
Claimed Apply Now Get Personalized Rates

Auto Approve Auto Refinance

in Auto Loan Refinancing from Auto Approve LLC
SuperMoney Net Recommendation Score +76  


This product is strongly recommended by SuperMoney users with a score of +76, equating to 4.5 on a 5 point rating scale.


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.

Strongly recommended

37 users recommend
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5 users don't recommend
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Community Rating Strongly 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 42

Auto Approve Auto Refinance Review

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

Key Takeaways

  • APRs starting at 2.94%. The starting rates for Auto Approve Auto Refinance are on the lower end of the spectrum.
  • Vehicle types. Auto Approve LLC refinances motorcycles, boats, RVs, ATVs, cars, and trucks.
  • Cash-out refinance. Loan amounts can be larger than what you need to pay off your current auto loan. The downside is you may owe more than what your car is worth.
  • Lender Network. Unlike lenders that provide refinance loans directly, Auto Approve LLC is a broker that works with its lender network to fund your auto refinance loan.
  • Lease buyouts. Offers refinancing to buyout an expensive lease or purchase a company car.
  • Fair credit accepted. The credit score needed for Auto Approve Auto Refinance is relatively low. Borrowers with a credit score as low as 580 may qualify for Auto Approve Auto Refinance.
  • Vehicle requirements. Vehicles must have less than 150,000 miles and a maximum age of 10 years.
  • Refinancing for large loan amounts. You can refinance auto loans of up to $150,000 with Auto Approve Auto Refinance.
  • Fast process. In some cases you can refinance your auto loan within 1 business day.
  • Origination fees starting at $399.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
  • No late fees. Missing a payment can seriously damage your credit, but Auto Approve Auto Refinance will not charge additional fees if you miss the due date on a payment.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Auto Approve Auto Refinance.
  • Long loan terms. Auto Approve Auto Refinance offers loan terms of up to 84 months. Most auto refinancing loans have a maximum term of 60 months.
  • Minimum income of $18,000. You will need an annual income of at least $18,000 to apply for Auto Approve Auto Refinance, which is below average for the lenders in our database

Auto Approve Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • Available in all 50 states.
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Funding available within 2 business days.
  • Considers older vehicles (max. 10 years)
  • Charges an origination fee.

Auto Approve FAQ

How much can you borrow via Auto Approve?

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 Approve offers a fixed APR car loan refinancing product that ranges from 2.94% APR up to 19.99% APR.

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

Auto Approve 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 charge an origination fee on auto refinance loans?

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

Does Auto Approve charge a late fee?

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

Does Auto Approve 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 580 and up to 850 may be 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. 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 Refinance. 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 Refinance. 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 maximum mileage to refinance with Auto Approve LLC?

Auto Approve LLC is an option for high-mileage vehicles. They will consider car 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 a car loan refinance with Auto Approve?

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?

Yes, 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 may help improve your credit.

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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

Refinancing is when you take out a new loan to cover your existing loan on your car. You pay off the old loan and start paying off the new loan at a lower rate. There are plenty of good reasons! Maybe you got a bad rate the first time around, your credit got better, or your family situation has changed. Interest rates today are historically low, so even if none of these apply, you may be eligible for a lower rate. When you refinance to the lower rate you qualify for, you pay less monthly and overall. Sounds pretty sweet, right? It is – and it means more money in your pocket to spend however you want.


Other Services by Auto Approve LLC


  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Application Fee $0
No Late Fees
No Prepayment Fee
Origination Fee ($) $399
Credit Score Range 580 - 850
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
Maximum Mileage 150,000
Maximum Vehicle Age 10
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $18,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Vehicle Type
  • Auto
  • Motorcycles
  • Boats
  • RVs
  • ATVs
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
  • Social Security Number
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Customizable Payment Dates
Funding Time Range 1 - 2 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Storefront
  • Credit/Debit Card
Pre-Approved Soft Credit Inquiry
APR (Fixed APR) 2.94% - 19.99%
(Verified 09/09/2022)
Loan Term 12 - 84 months
Loan Amount $7,500 - $150,000

Auto Approve Auto Refinance Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +76, equating to 4.5 on a 5 point rating scale.


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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