Finova Financial Auto Equity Loan Review

Where is Finova Financial Auto Equity Loan available?

Finova Financial Auto Equity Loan is an auto title secured loan product offered by Finova Financial, a direct lender based in West Palm Beach, FL that was founded in 2015. Finova Financial Auto Equity Loan is offered in 7 states across the USA.

What rates does Finova Financial Auto Equity Loan charge?

Finova Financial Auto Equity Loan offers auto title loans with a fixed APR that ranges from 17% up to 30%.

Does Finova Financial Auto Equity Loan charge an origination fee?

Yes, Finova Financial Auto Equity Loan charges a loan origination fee.

Does Finova Financial Auto Equity Loan charge a late fee?

Yes, Finova Financial Auto Equity Loan charges borrowers a late payment fee.

Does Finova Financial Auto Equity Loan charge prepayment fees?

No, Finova Financial Auto Equity Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Finova Financial Auto Equity Loan?

Loan amounts start at $500 and go up to $5,000.

What is the maximum loan term you can get with Finova Financial Auto Equity Loan?

Finova Financial Auto Equity Loan offers auto title loans with terms ranging from 12 to 24 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 title loan, the more interest you will pay.

What do you need to qualify for a loan with Finova Financial Auto Equity Loan?

Applicants with a credit score of at least 300 can apply for a loan via Finova Financial Auto Equity Loan. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify for a loan, you must have a clean title of your vehicle. In other words, you must be the undisputed owner of the vehicle. You can't have any liens or levies from creditors or other parties on your vehicle's title. Don't worry, there are other lenders who will consider borrowers who don't have a clean title.

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

Finova Financial Auto Equity Loan will also consider borrowers who are unemployed.

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

• Driver's license
• Proof of citizenship or residence permit
• Recent pay stubs
• Active duty servicemembers and their covered dependents are eligible to apply for a loan via Finova Financial Auto Equity Loan. Their rates fall within the limits of The Military Lending Act.

What is the estimated funding time for an auto title loan via Finova Financial Auto Equity Loan?

Finova Financial Auto Equity Loan will typically provide a credit approval decision in less than an hour and fund the loan within 7 and 14 business days.