trusted formAuto Approve vs Upstart | Several.com
Although we earn commissions from partners, we ensure unbiased evaluations. More on our 'How We Work' page

Auto Approve vs Upstart

Press [Add to Compare] to Edit, Add or Remove Vendors

Pros
  • Online quote and calculator tools
  • Pre-qualification with a soft credit check
  • Added coverage and protection option
  • 12 to 84-month loan terms
  • 45-day payment-free period
Pros
  • Advanced technology
  • Fast and easy loan application
  • Flexible loan terms
  • Auto loan calculator
  • Custom rates
Cons
  • Not a direct lender
  • No new or used car loan options
  • Lender partner network not disclosed
  • Lack of transparency regarding loan details
Cons
  • Limited physical branches
  • Technology dependency
  • Only offers car refinance loans
  • Lack of transparency
  • Not nationwide
Summary

Auto Approve, established in 2016 and based in North Plymouth, Minnesota, offers auto loan refinancing and lease buyout services. They aim to streamline the process for customers looking to reduce monthly payments or purchase their leased vehicles. Serving a variety of vehicles, including cars, trucks, motorcycles, and RVs, Auto Approve partners with a network of lenders to provide refinancing options tailored to individual needs. A key feature of their service is the online application process, which allows for pre-qualification without requiring a Social Security number. They also offer optional GAP insurance to protect against vehicle depreciation. While some customers appreciate the efficiency and flexibility, others have noted concerns with communication during the process. Auto Approve holds an A+ rating from the Better Business Bureau (BBB), reflecting their commitment to resolving customer issues. If you’re interested in exploring how their services could meet your refinancing needs, take a closer look at the full review for more insights into their offerings and customer experiences.

Summary

Upstart, founded in 2012, is an online lender headquartered in San Mateo, California. The company specializes in auto loan refinancing and leverages AI technology to evaluate borrowers beyond traditional credit scores. This approach considers factors such as income, education, and employment history, making it more accessible for individuals with thin or poor credit profiles. Upstart's services are online, offering a convenient and streamlined application process. Key features include flexible loan terms ranging from 24 to 84 months, loan amounts between $3,000 and $60,000, and competitive APRs starting at 5.61% but varying by state. The platform does not charge upfront fees, prepayment penalties, or origination fees unless specific conditions like repossession or late payments occur. One of Upstart's unique aspects is their ability to prequalify borrowers without impacting their credit scores. However, the platform does not offer purchase loans for new or used cars or allow co-borrowers or co-signers. Despite these limitations, Upstart's innovative underwriting process has garnered positive feedback for their inclusivity and efficiency. Upstart has been accredited by the Better Business Bureau since 2015 and holds a high Trustpilot score, indicating intense customer satisfaction. Upstart's AI-driven approach and flexible terms make them a compelling option worth exploring further for those seeking to refinance their auto loans.

Quick Stats
  • Loan Terms : 12 to 84 months
  • Minimum Accepted Credit Score : Undisclosed
  • APR : Undisclosed
  • BBB Rating : A+
Quick Stats
  • Loan Terms : Undisclosed
  • Minimum Accepted Credit Score : Undisclosed
  • APR : Undisclosed
  • BBB Rating : A+
Selling Points
  • Social Security number not required for a quote
  • 90-day payment deferral available
  • Co-signers permitted
  • Auto lease purchasing
Selling Points
  • No application fees
  • Prequalification without impacting credit
  • 100% online application
  • Low minimum or no credit score requirements
Multiple Financing Options
  • Lease Buyout
  • Loan Refinancing
  • New Vehicle
  • Undisclosed
    Private Party
  • Used Vehicle
Multiple Financing Options
  • Undisclosed
    Lease Buyout
  • Loan Refinancing
  • Undisclosed
    New Vehicle
  • Undisclosed
    Private Party
  • Undisclosed
    Used Vehicle
Additional Services
  • Extended Warranty
  • GAP Insurance
  • Limited Warranty
  • Mobile Application
  • Online Account Management
  • Return Policy
Additional Services
  • Undisclosed
    Extended Warranty
  • Undisclosed
    GAP Insurance
  • Undisclosed
    Limited Warranty
  • Mobile Application
  • Undisclosed
    Online Account Management
  • Undisclosed
    Return Policy
Eligibility Requirements
  • Undisclosed
    Hard Credit Check
  • Undisclosed
    Income
  • Undisclosed
    Minimum Credit Score
  • Pre-qualification With Soft Check
Eligibility Requirements
  • Undisclosed
    Hard Credit Check
  • Undisclosed
    Income
  • Undisclosed
    Minimum Credit Score
  • Undisclosed
    Pre-qualification With Soft Check
Fees & Costs
  • Undisclosed
    Documentation/Processing Fee
  • Undisclosed
    Late Payment Fees
  • Undisclosed
    Origination Fee
  • Prepayment Penalties
  • Title Transfer Fee
  • Upfront or Application Fees
Fees & Costs
  • Undisclosed
    Documentation/Processing Fee
  • Undisclosed
    Late Payment Fees
  • Undisclosed
    Origination Fee
  • Undisclosed
    Prepayment Penalties
  • Title Transfer Fee
  • Upfront or Application Fees
Payment Options
  • Undisclosed
    Automatic Payments
  • Undisclosed
    Cash
  • Undisclosed
    Check
  • Debit or Credit Cards
  • Undisclosed
    In-Person Payments
  • Undisclosed
    Mail-In Payments
  • Undisclosed
    Online Payments
  • Phone Payments
Payment Options
  • Undisclosed
    Automatic Payments
  • Undisclosed
    Cash
  • Undisclosed
    Check
  • Undisclosed
    Debit or Credit Cards
  • Undisclosed
    In-Person Payments
  • Undisclosed
    Mail-In Payments
  • Undisclosed
    Online Payments
  • Undisclosed
    Phone Payments
Customer Support
  • Articles and Videos
  • Email
  • FAQs
  • Help Guides
  • Live Chat
  • Phone
Customer Support
  • Undisclosed
    Articles and Videos
  • Email
  • FAQs
  • Help Guides
  • Live Chat
  • Phone