You’ve probably heard of Auto Approve if you have looked into car loan refinancing. But you may be confused as to how the process actually works. Is Auto Approve a legit company? Are they a direct lender? Today we are discussing exactly how Auto Approve works and how they can help get you the best deal possible on your car loan refinance.
Auto Approve is a direct lender. We work on your behalf to get you the best refinance offer to fit your needs. You can think of Auto Approve as an advocate for you as you navigate through the world of refinance. We custom fit a loan to align with your best financial goals.
Car loan refinance is our specialty. If you are looking to refinance your loan, we can help you to:
Determine if the time is right to refinance your loan.
Connect you with the best lenders for your refinance.
Help you apply.
Finalize the paperwork (including DMV paperwork).
We can help you refinance your car, truck, SUV, and even your motorcycle. Whatever your set of wheels may be, we can help you.
Auto Approve can also help you to purchase your car lease. If you have a leased car that you love, a lease buyout loan can help you keep your car. You can typically buy your leased car for the price of the residual value of the vehicle, plus any taxes and fees. And unless you have that money at your fingertips, you will need to get an auto lease buyout loan.
When you refinance with Auto Approve you can add on GAP insurance. GAP insurance is optional insurance that kicks in when there is a gap between what insurance will pay and what you still owe on the car.
For example, let’s say you owe $10,000 on your car when you get into an accident. Your car insurance decides that they will only pay out $8,000 in damages. This means that you are still responsible for $2,000 to the lender. GAP insurance would cover this so that you do not have to pay this amount.
When you refinance with Auto Approve, you can also bundle a vehicle protection plan into your low monthly payments. A vehicle protection plan offers additional coverage on your car for maintenance and repairs. Vehicle protection plans can be used with your manufacturer’s limited warranty or they can be used when the limited warranty expires. Bundling a plan will give you additional protection should something go wrong with your car.
Vehicle protection plans with Auto Approve come with other added benefits too, such as:
24/7 roadside assistance
Up to $50 per day rental reimbursement
Courtesy towing
Your choice of certified-ASE mechanic
A vehicle protection plan is an affordable way to get a little more protection from whatever life may throw at you.
Auto Approve is a legit company, but you don’t have to take our word for it. We have an A+ rating with the Better Business Bureau, a 96% would-recommend rating on LendingTree, and a 4.7 out of 5 star rating on TrustPilot. Customers know that we can find them the best deals on car loan refinance and love our customer service. We know that you need to talk to real people sometimes to get real results, so our live agents are here to work with you and give you the personalized attention you need–and deserve.
The first step to refinancing your car is determining if you should refinance in the first place. Refinancing can save you a lot of money if you qualify for a lower interest rate. It can also allow you to lower your monthly payments by lengthening your repayment plan. It might be a good time to refinance your car loan if any of the following apply to you:
Your credit score has improved since you initially financed your car.
The market rates have decreased since you initially financed your car.
You want to add or remove a cosigner.
You need some extra breathing room every month and want to lengthen your repayment plan.
If now seems like a good time to refinance your car loan, the next step is to contact Auto Approve. They can help you determine if you will qualify for loan refinancing, and can even get you some preliminary offers in minutes.
After you chat with an Auto Approve expert, they will help you determine where you should apply. You will need to gather the necessary documents, which will include:
Current loan information. You will need the name of your current lender, your account number, and your payoff amount. It’s good to have the contract handy to compare specific terms as well.
Personal information. You will need identification, proof of employment, proof of residence, and your contact information.
Vehicle information. You will need your car’s VIN, make, model, year, and mileage.
Once you have all of your information collected, Auto Approve will help you apply to the lenders that will best suit your needs.
When the offers roll in, you will need to decide which loan is right for you (Auto Approve can help you with this too!) And once you decide which loan is right for you, you can simply sign on the dotted line. Auto Approve will make sure that your old loan is paid off and that your new loan is ready to go. It’s that simple! Auto Approve will even handle the annoying DMV paperwork for you.
If you are wondering if car loan refinance is right for you, take a look at your current loan. Has your financial situation improved and caused an increase in your credit score? Have the market rates improved since you first financed? Do you need some breathing room in your monthly budget? Do you need to add or remove a cosigner? Whatever your reason is, Auto Approve can help connect you with the lender that is right for you.