Auto Approve Loans
Auto Approve Loans is a free connecting service for drivers who need a personal loan of roughly $500 to $5,000 for car repairs, insurance, inspection repairs, tires, brakes or collision work. We are not a lender. Our job is to pass your request to participating lenders so you do not have to apply lender by lender. Every credit decision, rate and term comes from the lender, and not every applicant is approved.
Step 1: Submit One Short Request
The process begins with a short online form on our loan request page. You will be asked for:
- The amount you need, typically between $500 and $5,000.
- What the money is for, such as a brake job, a collision deductible or an emissions repair.
- Basic personal details: name, date of birth, address and contact information.
- Employment and income information, including how often you are paid.
- Bank account details, which lenders use to deposit funds and set up payments if you are approved.
Having your repair estimate handy helps you request the right amount. Borrowing exactly what you need, rather than rounding up, keeps your interest cost lower. Submitting a request is free and does not commit you to anything.
Step 2: We Share Your Request With Participating Lenders
After you submit, our system looks at the details you provided, such as your state, the amount and your income, and shares your request with lenders and partners in our network that may be able to serve you. Some partners are lenders; others are networks that work with additional lenders.
We do not decide whether you qualify, and we do not see or control a lender's final credit decision. Lenders and partners may compensate us for connecting them with consumers, which is how the service stays free for you. Our advertiser and lending disclosure explains this in more detail, and our privacy policy describes how your information is handled.
Step 3: Lenders Review Your Request
Each participating lender applies its own underwriting rules. Common factors include your credit history, income, existing debts, employment, state of residence and the loan amount. A lender may:
- Run a soft credit check, which does not affect your credit score, to estimate an offer.
- Run a hard credit check before final approval, which may have a small, temporary effect on your score.
- Ask for documents such as pay stubs, a bank statement or a photo ID.
- Make an offer, make a smaller offer than you asked for, or decline the request.
Lenders set the APR, which for personal loans in this range typically falls between about 6% and 35.99%, and repayment terms that usually run from 3 to 36 months. Your actual terms depend on the lender and your profile.
Step 4: Compare Any Offers You Receive
If a lender is interested, you may see an offer on screen, be redirected to the lender's site, or be contacted by phone, text or email. Read each offer carefully before you sign. Pay attention to:
- APR: the yearly cost of borrowing, including interest and certain fees.
- Origination fee: some lenders deduct a fee from the amount you receive.
- Monthly payment and term: a longer term lowers the payment but raises total interest.
- Total repayment: the full amount you will pay over the life of the loan.
- Late fees and prepayment rules: check what happens if a payment is late or if you pay early.
Representative example: a $2,000 personal loan repaid over 12 months at 24% APR would cost about $189.12 per month, or $2,269.43 in total ($269.43 in interest). This is an estimate; your actual rate and terms are set by the lender. You can test other amounts with our personal loan calculator.
Step 5: Finish With the Lender You Choose
If you accept an offer, you complete the loan directly with that lender. You will review and sign its loan agreement, and your relationship from that point on is with the lender, not with Auto Approve Loans. The lender handles funding, payment schedules, statements and customer service for the loan.
If approved, some lenders can send funds as soon as the next business day, though timing depends on the lender, when you sign and how quickly your bank posts deposits. Many borrowers pay the repair shop directly once funds arrive.
Typical Timeline
| Stage | Typical timing |
|---|---|
| Filling out the request | About 5 minutes |
| Sharing with participating lenders | Usually within minutes of submitting |
| Lender review and response | Minutes to one business day; longer if documents are needed |
| Signing the loan agreement | On your schedule; there is no obligation to sign |
| Funds deposited, if approved | Some lenders as soon as the next business day; others take longer |
What It Costs
Submitting a request through Auto Approve Loans is free. We never charge borrowers a fee to request offers, compare them or decline them. The cost of a loan comes only from the lender you choose, in the form of interest and any fees disclosed in its loan agreement.
If You Are Not Matched
Sometimes no lender in our network can make an offer, perhaps because of your state, income, credit history or the amount requested. That is not the end of the road. Consider these steps:
- Ask your repair shop about a payment plan or splitting the work into urgent and non-urgent repairs.
- Get a second estimate; prices for the same job can vary by hundreds of dollars.
- Check whether your insurance policy covers the damage, such as a collision or comprehensive claim.
- Ask a local credit union about small personal loans for members.
- Review the requirements on our loan eligibility page and try again later with a smaller amount or updated income details.
Need Help Along the Way?
Our support team can explain the process, help you understand an offer's terms or remove your information from future contact. Reach us through the contact page, by phone at (888) 957-4039, or by email at [email protected].
