Auto Approve Auto Loan Review 2022 – Forbes Advisor

Auto Approve offers refinances for several types of vehicles as well as lease buyout loans. These loans range from $5,000 to $85,000 and come with terms of 12 to 84 months.

Both loan options allow borrowers to add a Vehicle Protection Plan, which covers work by Automotive Service Excellence (ASE) certified mechanics, 24/7 roadside assistance, reimbursement rental cars and courtesy towing.

The company also works with borrowers to ensure they have GAP insurance on new loans. The costs of this insurance as well as the vehicle protection plan are integrated directly into your monthly payments.

Refinancing of vehicles and motorcycles

Auto Approve’s primary offering is refinance for cars and motorcycles, but the company also offers refinance for trucks, SUVs, recreational vehicles (RVs), boats, and all-terrain vehicles (ATVs). . Note that Auto Approve does not refinance commercial vehicles, heavy equipment, or vehicles registered in a company’s name.

According to the company, most of its refinance customers enjoy lower monthly payments.

Rental Purchase

Auto Approve offers two types of lease buyout loans:

  • Purchase at the end of the lease: This allows borrowers to purchase or refinance their vehicle at the end of their lease.
  • Early redemption: This option allows borrowers to purchase their leased vehicle before the end of their lease.

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