Avant

4.3 out of 5 stars
1649 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

4.5 out of 5 stars

4.5 5

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Most Helpful Positive Review

Sep 26, 2016
Know what you're paying!
btrials Borrower

I currently have a $10,000 loan through Avant.  They were really the only company that considered with my low 600's score initially and knew from the beginning the high 29.97% interest but knowing I had some money coming in sooner or later I knew I can pay this off without paying the full interest.  I see too many complaints about the high interest fee.  You need to know how to calculate the daily interest rate (accured).  For example, if my loan is $10,000, after 30 days, I already racked up $246 in interest alone!  That means my $423 or so in payments, over half will go into interest.  Next month as the principal amount goes down, about $2 go down in interest.  Accrured Interest = (Daily Interest Rate) x (Days Since Last Payment with Interest) x (Current Outstanding Balance).  So this means you pay $177 only for the principal at 30 days leaving you a principal balance of $9,823.  Each day counts here!  But say instead of the $423, you double the payment for $846.  The interest is still $246 but you just paid $600 in principal balance leaving you $9,400.  While still high your interest will go down by $10 the next month.  Even better if you can pay that extra amount BEFORE the end of 30 days when your payment is due.

With that said, if you have means of paying extra each day, week or month, do so.  The more you can knock down on the principal balance the faster you'll be able to pay off this loan.  I would say if your FICO is low but can get approved just know how much it's going to cost you to take out this loan unless you have excellent credit (which you probably wouldn't be looking at Avant).  

I deducted one star for the lack of clear definition and how the interest is calculated as much as the customer service people were nice.  They need to provide examples (both visual and written) so people can see how this loan will benefit them (or not).  When someone (like most people) without a knowledge of how daily interest is calculated it gets confusing really fast.

I'll be paying this off with my bonus but initially did this to pay off my credit card debt (for high FICO) and also Avant's loan is listed as installment loan so it won't show up as one of those debt consolidation loan that "may" affect the way the FICO is calculated.  

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Most Helpful Negative Review

Sep 13, 2016
Avoid like the Bubonic plague.

Difficult approval. And when approved. I recieved $4,700.00. Dismal Customer Service. Switched Dates on Payments. And didn't help my credit score much. Do yourself a favor. Find another online lender with reasonable APR's and interest rates. Avant is for bottom feeders.

LENGTH

30months

APR

59.0%

PAYMENT

$300.01/mo

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These reviews were written by current and former borrowers in the last year.

Mar 23, 2017
Excellent
IleM Borrower

Super easy.! Facil, rápido y excelente.

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Mar 23, 2017
Easy and fast!
dgmarnp Borrower

This loan was the easiest I have ever gotten.  There was no issues and it was done timely and without problems.  Although interest was a tad higher than others, this was hassle-free and very professional. Would recommend in a heartbeat!

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Mar 22, 2017
Fast and easy process!
Indi1013 Borrower

Recommend by Credit Karma! It was simple received funds within two business paid off my credit cards improved my credit score. Awesome experience!!

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Mar 22, 2017
Easy process for easy money problem
SPINGUY Borrower

Process was very easy. Appliaction was simple. So far I'm happy with the services. I'm grateful for their services.

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Mar 21, 2017
Easily approved
Anonymous Borrower

I get that this loan has a very high interest rate. You should realize that before applying, however I did this loan to get out of most of my credit debt and pay off some of my cards. This will indeed help me with that so I will not only decrease the amount of bills I pay per month, but also stop the interest accumulating on all of them. For me, it works. It took me about 4 days to complete the application and receive my approval email.

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Mar 21, 2017
Anonymous Borrower

The Application process was quick and easy! No Hassle

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Mar 19, 2017
Anonymous Borrower

Great service quality response

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Mar 18, 2017
Great
Anonymous Borrower

Very smooth loan process. The customer service is awesome.

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Mar 18, 2017
super easy
Anonymous Borrower

Easiest loan ever gotten

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Mar 18, 2017
Done in 3 days
Anonymous Borrower

They kept coming back with way less than what I needed or wanted, but all in all I did put together what I needed for the down payment on my equipment I wanted and my payment is way less than where it started.

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.