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  Avant Auto Loan Refinancing

Avant Auto Loan Refinancing

in Auto Loan Refinancing from Avant LLC

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Avant Auto Loan Refinancing

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in Auto Loan Refinancing from Avant LLC

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Highlights
Credit Score Range Starting at 550
Loan Amount $7,500 - $40,000
APR  (Fixed APR) 9.95% - 35.95%
Loan Term (Months) 24 - 72 months

Avant Auto Loan Refinancing Review

Avant auto refinance is an auto loan refinance offering by Avant LLC, based in Chicago, IL. Founded in 2012, Avant LLC offers auto refinance loans in 44 states (and Washington, DC).

Key Takeaways
  • APRs starting at 9.95%. The starting rates for Avant Auto Loan Refinancing are on the higher end of the spectrum.
  • Vehicle types. Avant LLC only refinances cars and trucks.
  • Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 550 are considered for Avant Auto Loan Refinancing.
  • Vehicle requirements. Vehicles must have less than 16,000 miles and a maximum age of 10 years.
  • Fast process. In some cases you can refinance your auto loan within 1 business day.
  • No origination fee. Avant Auto Loan Refinancing does not charge an origination fee for processing your loan application.
  • No late fees. Missing a payment can seriously damage your credit, but Avant Auto Loan Refinancing will not charge additional fees if you miss the due date on a payment.
  • Long loan terms. Avant Auto Loan Refinancing offers loan terms of up to 72 months. Most auto refinancing loans have a maximum term of 60 months.
Avant auto refinance Pros & Cons
Pros Cons
  • Available in 44 states.
  • $0 prepayment fee.
  • $0 origination fee.
  • Considers applicants with fair credit.
  • Considers older vehicles (max. 10 years)
  • APRs as high as 35.95%.
Avant auto refinance FAQ

How much can you borrow via Avant auto refinance?

Auto refinance loan amounts start at $7,500 and go up to $40,000.

What are the auto loan refinancing rates offered through Avant auto refinance?

Avant auto refinance offers a fixed APR car loan refinancing product that ranges from 9.95% APR up to 35.95% APR.

What is the maximum loan term you can get with Avant auto refinance?

Avant auto refinance offers auto refinancing with terms ranging from 24 to 72 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 Avant auto refinance charge an origination fee on auto refinance loans?

No, Avant auto refinance does not charge a loan origination fee for refinancing a car loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does Avant auto refinance charge a late fee?

No, Avant auto refinance will not charge you a late payment fee.

Does Avant auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for Avant Auto Loan Refinancing?

Applicants with a credit score that ranges from 550 may be eligible for Avant Auto Loan Refinancing. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Avant Auto Loan Refinancing does not have or does not disclose a minimum annual income eligibility requirement. Avant Auto Loan Refinancing only considers borrowers who are employed.

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. APRs for the Avant Auto Loan Refinancing product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

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

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit

What is the maximum mileage to refinance with Avant LLC?

Avant LLC will only consider auto refinance loan applications for vehicles with a maximum mileage of 16000 miles.

What is the maximum car age to refinance with Avant 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 Avant auto refinance?

Auto refinance loan applications are typically funded within 1 to 7 days of approval.

Does Avant Auto Loan Refinancing report your account activity to credit bureaus?

Yes, Avant Auto Loan Refinancing reports your account activity to the following credit reporting agencies:

  • 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 Avant Auto Loan Refinancing

Surprise costs are part of owning a car or home. Customers love the fast decisions and funding time that come with a loan through Avant.

Availability

  Available in 44 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • 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
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Credit Score Range 550 -
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Maximum Mileage 16,000
Maximum Vehicle Age 10
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Vehicle Type Auto
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
Credit Bureau Reporting TransUnion
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
Pre-Approved Soft Credit Inquiry
APR (Fixed APR) 9.95% - 35.95%
Loan Term 24 - 72 months
Loan Amount $7,500 - $40,000

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