Auto Approve Review
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Auto Approve Reviews

Bob Phillips


Bob Phillips

Pairing customers with a trained loan consultant
Pairing customers with a trained loan consultant
About Auto Approve

Founded in 2016, Auto Approve is a Minnesota-based company specializing in automobile refinancing. Their primary focus is helping consumers lower their interest rates on outstanding vehicle loans, potentially saving them hundreds or thousands of dollars in interest they would be paying to their current lender due to their higher interest rate.

The company’s central selling point is it will lower its customer’s monthly payments by reducing the interest rate on their vehicle’s loan balance, which frees up money for the customer to spend on things that matter more to them.

Auto Approve stands out with its dedication to connecting customers with live people via website chat or telephone.









Auto Approve Auto Loans Review

Auto Approve provides vehicle refinancing to individual consumers. The company is based in Minnesota and has grown based on pairing prospective customers with a loan consultant who serves as a single point of contact, which streamlines the loan application and approval processes.

Auto Approve Auto Loans Highlights


$7,500 - $150,000


12 to 84 months




2.94% - 15.99%


1.2 days








10 years





Pros & Cons

  • Low APRs for qualified buyers
  • Available in all 50 states and the District of Columbia
  • $0 prepayment fee
  • Quick funding (1-2 business days)
  • High origination fee ($399)
  • Support is not available on weekends
  • No new car financing
  • No commercial vehicle loan refinancing

Auto Loans Types

  • Lease Buyouts
  • Auto Refinance Loans

Vehicle Types

  • Car
  • Motorcycle
  • Truck
  • Watercraft

Auto Approve Auto Loans Terms & Requirements

Auto Approve offers loans for various vehicle types, including cars, trucks, SUVs, ATVs, and boats. They are liberal in the vehicle age they’ll refinance (up to 10 years) and mileage (up to 150,000). The loan terms are favorable, having competitive interest rates and up to 84-month financing. Loan requirements meet market standards.

How to Apply

To apply with Auto Approve, follow the company’s application process provided on their website to ensure a straightforward and simple transaction:

Screen 1

Personal Information

  • Provide personal, vehicle, and employment information
  • Speak with a loan consultant who will explain your loan options
  • Submit to a ‘hard’ credit check if you decide to move forward with refinancing

If approved, you’ll then sign the necessary documents and submit payments directly to your new lender.


Qualification Requirements

  • Min. credit score: 640
  • Income: $18,000 or higher
  • Citizenship: U.S. citizens/permanent residents/green card holders
  • Co-signer: allowed to help the applicant qualify for better rates and terms

Required Information

Required documents: loan payoff statements, recent pay stubs, proof of income, proof of insurance, driver’s license or government-issued photo ID, proof of identity, proof of citizenship or residence permit, U.S. tax identification number

Application Steps & Time Frames

  • Complete application/provide documentation: 1-2 hours
  • Receive funding decision: 1-2 business days

This is a very simple process if you provide the required documents in a single submission and in a timely manner. It compares favorably with other lenders in the vehicle refinancing market.

State Availability

Available in all states

Privacy & Security

Auto Approve has an A+ rating with the Better Business Bureau, reflecting the good experience that users of the marketplace have had when it comes to finding car loans. Having been in business for more than five years, Auto Approve has shown itself to be a trustworthy offering.

It also takes the privacy of its users very seriously, making sure to encrypt and protect all sensitive data that is transferred through the offering. Finally, as a marketplace, Auto Approve makes sure to vet all the lenders to make sure that they are fully legit and fair.

Customer Support

After submitting vehicle and existing loan information online, we found Auto Approve’s response time highly acceptable. Within 60 minutes, we were contacted via email by a loan consultant who was eager to assist. The email included a toll-free number to contact the consultant directly.

Auto Approve’s reputation for solving prospect’s problems and answering their questions is very positive, which is reflected in their reviews on Trustpilot, which awarded them a 4.5/5 star review based on 5700 consumer comments.

Phone Support
(888) 461-1006
8am-6pm CET

In Conclusion

Auto Approve provides an easy-to-navigate website and a positive buying. They take the time to learn about each potential borrower’s situation concerning their credit score and vehicle to pair them with a lender interested in working with them. Prospective customers work directly with a single point of contact within Auto Approve and are provided personal attention from start to finish.

Other than Auto Approve not providing new car loans, they are looked upon favorably in the vehicle refinancing marketplace.


What types of vehicles does Auto Approve refinance?
In addition to cars, trucks, and SUVS, Auto Approve also refinances motorcycles, RVs, boats, and ATVs. They don’t refinance commercial vehicles, heavy equipment, machinery, or vehicles under a company’s name.
Does refinancing with Auto Approve affect your credit score?
Auto Approve performs a ‘soft’ inquiry that only you can see, and it doesn’t impact your credit score in any way. A ‘hard’ credit inquiry is only performed after you choose to move forward with Auto Approve, and that inquiry will appear on your credit history. This generally will not significantly impact your credit score.
How long does approval take with Auto Approve?
After submitting your application to an Auto Approve preferred lending partner, you’ll typically receive a decision within minutes.

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Bob Phillips

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.