Is Auto Approve a reputable lender?

Yes, Auto Approve is a trusted source for auto financing. It carries an A+ rating and accreditation from Better Business Bureau.

Does refinancing hurt your credit?

Your credit will take a temporary dip following the application process due to the hard inquiry that occurs. But while there is a short-term dip, refinancing can be better in the long run if you are struggling to make your payments.

When is the first loan payment due with Auto Approve?

Your first payment period tends to be 45 days following the contract date. Though Auto Approve offers a 90-day payment deferment option for applicants that meet the qualifications.

Auto Approve: 2025 Auto Loan Review

At a glance

Find my best rate

with Bankrate

4.2

Bankrate Score

Availability

4.3

Affordability

4.3

Customer Experience

3.8

Transparency

4.5

Full methodology

Bankrate’s take

In addition to auto loan refinancing, Auto Approve offers auto lease purchasing options and motorcycle refinancing. Applicants can add or remove a cosigner to their new loan and will receive a quote online within minutes.

Lender Details

Loan amount

$10,000-$150,000

APR from

4.99%-19.99%

Min Credit Score

600

Funds available in

Varies by lender

Auto Approve is best for seamless refinancing

Working as your advocate, Auto Approve helps you find a better auto loan through refinancing. It streamlines this process by handling the heavy lifting. When you fill out your application, Auto Approve matches you with lenders, does the DMV paperwork and contacts your previous lender.

While Auto Approve is not a lender, it works to match you with auto lenders that will give you a better deal than your current loan. Auto loan refinances are handled by Auto Approve, and its customer support team can also help you add or drop a cosigner, get a better rate, adjust your repayment terms and more.

Types of car loans that Auto Approve offers

Auto Approve's network of lenders allows you to refinance your current loan, potentially getting you a better rate or lowering your monthly payment. If you are currently leasing a vehicle, Auto Approve also offers lease buyouts. However, Auto Approve only advertises a minimum APR is available on its website.

Auto loan refinancing

Refinancing your car involves replacing your current loan with a new one. If Auto Approve matches you with a lender offering a lower APR, you could enjoy smaller monthly payments and savings on interest across your loan’s lifetime. You could also extend your lease term, lowering your monthly payment but increasing your total interest paid.

When you refinance with Auto Approve, you can also skip up to three payments, allowing you to put extra cash towards current financial needs. Note that this could mean higher interest payments in the future, though.

Lease buyouts

Auto Approve has two lease buyout options. A lease-end buyout allows you to buy or refinance your leased car at the end of the lease agreement. An early buyout option, on the other hand, can help you finance the cost of buying your leased vehicle before the lease ends.

Where Auto Approve stands out

Customer support: Borrowers will be matched with a customer representative that will assist you throughout the funding process.
Vehicle add-ons: When financing, you have the ability to add on gap insurance, an extended warranty or a service plan.
Joint applications: Auto Approve allows co-borrowers and can also help with removing or adding one to your new loan.

Where Auto Approve falls short

Varying fees: While Auto Approve itself only charges a documentation fee, some of its lending partners charge more.
Unknown lenders: Auto Approve doesn’t list all the lenders they work with — you’ll just have to see which ones you match with.
Limited loan products: You can not finance the purchase of a new or used vehicle with Auto Approve, though lease buyouts are available.

Auto Approve customer resources

Customer support

Auto Approve’s website has a chat box to answer any introductory questions on your loan application. For more in-depth questions, contact support by email at info@autoapprove.com or over the phone at 833-950-1509. Its customer service hours run from Monday through Saturday, 8 a.m. to 6 p.m. CT.

Digital experience

Auto Approve has a feature where you can get your rate in just 60 seconds. The website itself does not list much in terms of possible rate ranges or loan amounts, likely because the company connects you with lenders to help you find the best rates and terms based on your financial background and situation.

How this lender compares

Working with a lender aggregator might not be the best financial choice for every type of borrower. Before signing off with Auto Approve, it is important to compare other refinance rates.

Auto Approve vs. Ally

If you like the convenience of online funding and loan handling, consider checking out Ally. The bank-funded lender offers refinance, purchase loans, leases and lease buyout options, as well as the ability to view real loan terms if you prequalify for financing. Ally also boasts flexible requirements. Borrowers may qualify while earning just $2,000 per month, even with less-than-perfect credit.

Auto Approve vs. Tresl

Tresl boasts a seamless online application that allows you to prequalify for rates through a soft credit check. But it discloses less information upfront than Auto Approve — it’s not clear what loan amounts or APRs it offers. Both Tresl and Auto Approve offer online assistance when handling refi documentation, which can streamline the process.

Do you qualify for an Auto Approve auto loan?

Auto Approve requires a minimum credit score of 620, which falls within the fair range, according to Experian. However, the lender works with an extensive network, so specific qualification requirements will vary by partner.

Auto Approve offers auto loan refinancing for cars and motorcycles. However, it does not refinance heavy equipment or commercial vehicles.

How to get an auto loan with Auto Approve

The Auto Approve lending network allows borrowers to refinance to receive more favorable financing or purchase their leased vehicle. The online application and funding process is seamless and encourages you to take advantage of personalized service that can provide step-by-step advice.

Applying for a loan with Auto Approve can be done completely online. According to the lender's site, it takes only a few steps, and you will receive a quote in seconds.

Enter information: First, you must enter information on the online form covering information on yourself and your vehicle.
Compare options: At this point, a loan consultant will present you with loans that you best qualify for and explain the options.
Apply: Once you determine which lender is best for your needs your consultant will help you apply and handle the creation of new title documents.
Receive a new loan: Auto Approve will work with the DMV to get the new vehicle title. You can now start making payments.

- Proof of insurance.
- Driver’s license.
- Vehicle registration.
- Contact information.
- Proof of income.
- Current loan finance contract (optional).

How Bankrate rates this lender

Overall Score	4.2
Availability	4.3	Auto Approve serves borrowers in all 50 states but does not openly disclose loan amount information on its website.
Affordability	4.3	Minimum and maximum APRs are low compared to industry standards, but there are some loan fees charged by certain lenders.
Customer Experience	3.8	Autopay is not offered by all lenders and there is no mobile app.
Transparency	4.5	Prequalification and fees vary by lender and Auto Approve charges a documentation fee.

Methodology

Bankrate's trusted auto loans industry expertise

Read our full methodology

48

years in business

22

lenders reviewed

16

loan features weighed

352

data points collected

The Bankrate team uses a 16-point system to evaluate auto loan refinance products across four main categories.

Loan amounts, restrictions and state availability are accounted for in this category. Lenders with fewer restrictions, larger loan amounts and those that serve customers nationwide rank higher.
Lenders with the lowest APRs and fewest fees rank better in this category. Discounts can also add to the score.
Our team evaluates lenders' online account access, customer service hours, automatic payments options and funding timeline.
Prequalification and the public disclosure of rates and fees contribute to this score. Lenders that make it easy for borrowers to find how much they could pay to refinance get higher marks.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think

What people across the web are saying about Auto Approve

Auto Approve is accredited through the Better Business Bureau (BBB), and has an A+ rating. Users on Trustpilot also rate Auto Approve highly, with an average 4.6 out of five stars based on nearly 11,000 reviews. Most reviewers discuss the great customer service and consistent communication from Auto Approve.

Easy to work with, very informative, extremely helpful, very polite, saving me a lot of time, decreasing stress, just an overall great experience.

– Trustpilot user

However, a few Trustpilot users report rude customer service representatives as well as spam emails and phone calls.

You were sending me emails, even though I had already been approved for financing and working with a specialist. Repeated phone calls from different team members, but not being able to reach a team member that I was already directly working with was very frustrating. Poor communication from start to finish.