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Auto Approve Auto Refinance Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
7 Customer Comments & Reviews - see all comments
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Founded in 2016 and based in Minnesota, Auto Approve, LLC is an auto insurance refinance marketplace. The company connects customers to the best possible refinance option from their list of preferred lenders. Auto Approve, LLC has an A+ rating with the BBB and numerous strongly positive consumer reviews on Trust Pilot.
 
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Call: (844) 238-3075

How is Auto Approve rated?

Breakdown

4.5/5
Loan Details
4.5/5
Customer Experience

Overall Rating: 4.5 / 5 (Excellent)

Auto Approve is a great choice for auto refinance because they offer top-rated, personalized customer service and can provide car owners with the best possible financing terms (up to 120 months) through its network of preferred lenders. Auto Approve charges no application fees and features fast approval times. What's more, in addition to cars, the company can refinance SUVs, trucks, motorcycles, RVs, and even boats and ATVs.

Auto Loans & Refinancing

Loan Details - 4.5 / 5

Auto Approve is an online marketplace that connects customers with a large network of lending partners such as banks, finance companies and credit unions across the country. Because of Auto Approve’s relationship with these lenders, they can get customers preferred access for their auto loan refinance. Common reasons customers choose to refinance through Auto Approve include lowering their interest rate and monthly payment, paying off the loan faster, skipping one or more payments, or removing someone else from the original loan. Terms and interest rates will vary by lender, but Auto Approve strives to give its customers the control to dictate the term of the loan, shortening or lengthening to accommodate their individual refinancing needs.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Loan Refinancing

Min. APR
4.99%

Additional Info

Term, maximum loan amount, interest rate and days to first payment will all vary depending upon factors such as the value and condition of the motor vehicle, certain credit related criteria, and the best options provided by Auto Approve’s lending partners.

Loan Qualifications

Qualification - 4.5 / 5

To qualify for an auto loan from an Auto Approve lender, customers must meet certain basic requirements. Customers must be employed and have a minimum gross monthly income of at least $2,000. The loan balance on the motor vehicle to be refinanced must also be over $10,000. Additionally, the vehicle must be less than 10 years old and not have more than 100,000 miles. To get an initial quote rolling, all customers need to provide is their driver's license, proof of insurance, and current vehicle registration.

Borrower Qualifications

Minimum Income
$2,000 monthly
Minimum Credit Score
640
Verification / Documents Required
Vehicle Registration
Driver's License / Photo ID
Proof of Insurance

Vehicle Qualifications

Mileage Limit
Less than 100,000 miles
Car Age
10 years or newer

Application & Service

Customer Experience - 4.5 / 5

Auto Approve features no application fees and there are no up-front costs. However, a refinance-related fee to cover document costs and amounts paid on the customer’s behalf (such as titling fees) is included in the refinanced loan. Auto Approve generally performs only soft credit report inquiries as part of its prequalification process. These inquiries are not viewable by anyone but the customer, and do not impact the credit score in any way. If an application is forwarded to one of Auto Approve’s lending partners, they will perform a hard pull which can be seen on the customer’s report. However, since credit bureaus typically allow around 14 days for people to shop around for auto financing, all credit pulls during this time frame will generally count as a single inquiry.
Approval Time
Within minutes, in most cases
Benefits/ Features
Online Rates
Credit Inquiry
Auto Loan Calculator

Auto Approve Reputation & Reviews

Reputation - 4.5 / 5

Despite the fact that Auto Approve opened in 2016, the organization has garnered a very good reputation and a large amount of positive customer feedback. Auto Approve has an A+ rating with the BBB and numerous positive consumer reviews on Trust Pilot. Customers routinely point out the speed and efficiency of the process, and the money they were able to save through an Auto Approve refinance.
Trustpilot Rating
4.7 out of 5
BBB Rating
A+
Number of BBB Positive Reviews
139
Number of BBB Negative Reviews
4
Date Collected
2023-03-02

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
https://www.AutoApprove.com
Company Phone
(844) 238-3075
Headquarters Address
2860 Vicksburg Lane, North Plymouth, MN, 55447
Year Founded
2016

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7 Customer Comments & Reviews

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Hilaree O
7/6/2023
Person on the phone said they would call me back the same day or the next morning. I did not hear back from anyone ever after giving all my information over. Any time I called to check the status of my application, I was hung up on. Someone even tried calling me and when I answered they hung up. Went to the website to speak in the chat room and a customer service rep told me a text was sent to tell me my application was denied. I NEVER received any kind of "text", which for one is completely unprofessional. I also never received a reason as to why my application was denied. Terrible service and do NOT recommend!!!!!!!!

Tuyen L
8/5/2021
They asked me to send them information. Ran my credit, this impacts my credit score. And at the end they said the bank they found won't do the refinance since I am permanent resident not citizen. This is DISCRIMINATION and unacceptable. Why did you ask me to refinance with you guys and at the end discriminate me just because I am not citizen ?

K
Kathy F
4/21/2021
Auto Approve was easy and convenient for refinancing our auto loan. Our representative Matthew L was extremely helpful, friendly and knowledgeable throughout the whole process. We would highly recommend Auto Approve!

Jose P
11/16/2019
I had applied with Auto Approve to refinance my vehicle. My agent was Cynthia B. At the beginning she was prompt with getting back to me keeping me updated after I provided her with all my personal information..ie pay check stubs ect. Then all of a sudden she disappears off the face of the earth. After about 2 weeks of leaving multiple voice and text messages, I got fed up and demanded to speak with anyone but her. I spoke to Adam Johnson who provided me with all the info I needed. This is unacceptable and unprofessional conduct. Someone needs to let her know you don't do that to people. Needless to say I did not refinance with this company nor would recommend someone to do so.

R
Rudy R
11/4/2019
Summer was extremely helpful. She made this transaction very easy. I’m very thankful for the help I received.

A
Adam
10/9/2019
Pretends you are approved, with a great rate. Knows all the info about the car you have and they pay off amount. Makes it seem like no big deal. Then wants you to put $2100 down to work with you, lol. suuuure. I know I'm upside down, thats why Im here. I need a refi on the loan, new term and rate. way to crush my daughter who was really needing this.

C
Charles E
8/22/2019
Very professional, high quality of service, fast, accurate and efficient. I would highly recommend Auto Approve to anyone for their financial needs.

Top Rated
Our Partner
  • Save thousands on your Auto Loan within minutes!
  • Skip up to 3 car payments
  • Average savings of $138 per month
  • National lending network with competitive rates
  • $0 out-of-pocket cost
(844) 238-3075
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