Avant Reviews

4.0 out of 5 stars
991 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

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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

Jun 11, 2017
Worst Financial Mistake I ever made...
NIckfury55 Borrower

I applied and receive a loan for 13,000 dollars. My payment was 520.68 per month. My credit score is 677, which is not bad..After I had made several payments. I looked at the breakdown of the load and was SHOCKED to see that 329.87 went to interest and 190.81 went to the principal. So I made an extra payment of 1000 $ in addition to my normal payment... Don't you know those crooks applied their MAGIC MATH and applied 634.61 to INTEREST... INTEREST I TELL YOU!!!!!!! what a huge robbery. So finally after 15 months I was finally able to beg borrow and steal enough money to pay them off.. so lets to the math..payments just to the principal were 2862.15$ Original loan was 13,000$ subtract 10,137.85...but my payoff was quoted at 10, 937.48.. How in the hell can it increase based on their numbers...not mine...Bottom line is I borrowed 13,000$ Paid 6,810 and the load only shrunk to 10, 937.48...So if they screwed up or denied your load, count yourself as lucky..But if you are applying for a load, DON'T DO IT. THE COST IS PROHIBITIVE!!!!

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

Jun 24, 2017
Easy and a pleasant experience
Butch6262 Borrower

If you need to payoff some bills easy and low repayments 

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Jun 23, 2017
They made it easy!
Racerricky1 Borrower

I tried the others they all wanted me to jump thru hoops these guys made it easy and funded it quickly!

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Jun 23, 2017
It's a trap
Srebel92 Borrower

This loan is great for someone that needs fast cash.  Be leery however this loan is typically for people with bad credit you'll likely end up paying far more in intrest then you even borrowed.  Fairly poor customer service when you have questions but that's to be expected.  30+ apr is just a little overkill no matter how bad someone's credit may be.

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Jun 23, 2017
very fast
tactfulguy Borrower

Very easu application and fast results. Excellent customer service!!

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Jun 22, 2017
quick
kbloom1 Borrower

needed to consolidate bills to improve my scores, loan process was quick and easy

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Jun 22, 2017
Almost too quick and easy...
irival Borrower

Just realize this is a high-interest loan amortized with interest calculated daily.

For me it was the only option and I knew what I was signing up for, but no

 other options--was turned down by multiple other lenders due to recent

maxed out credit cards. Also, as I understand the terms of this loan, I will

owe the entirety of the interest from day one...so for me there is no relief

if I decide to pay it off early.

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Jun 21, 2017
Personal Loan
rashiprice Borrower

This was a small personal loan taken for bill consolidation. Avant was very helpful with the whole process and automated setups worked flawlessly on their part.

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Jun 21, 2017
Easy, quick w/excellent customer service
mwhite52 Borrower

After approval, it was quickly deposited into my bank account, and oh... the upfront fees was taken out of the loan amount. 

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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.