Finova Financial Logo
Loading TrustPilot

Finova Financial

Fast, Affordable Personal Loans
Finova Financial is an online lender offering consumers fast and affordable personal loans using your car as collateral.


Finova Financial offers a viable alternative to emergency lending, providing a quick loan option via their Car Equity Line of Credit (CLOC) loans. This means you can get a short-term loan or cash advance based on the value of your car.

What Is Finova Financial?

Finova Financial is a lending institution that prides itself on being a leader in the financial technology industry. Their goal is to make financing accessible for a broad range of consumers who find it challenging to obtain loans with traditional banking institutions.

Finova Financial Loans

Finova Financial offers short-term loans using your car as collateral. This loan comes with a set 12-month repayment term, interest rates are lower than the national average, and they charge no prepayment or early payoff fees.

For consumers in a financial bind with few options, the CLOC loan can be a practical financial alternative that won’t put them into insurmountable debt. With approximately 70 million Americans spending more than $138 billion on fees and interest, their car equity loan is a refreshing alternative. In addition, Finova Financial does not charge a fee for prepayment or early payoff; however, they do charge a $75 DMV lien fee and Document Stamp Tax based on the cost of the vehicle.

How to Qualify for a Finova Financial Loan

The CLOC loan is available to borrowers 18 years and older with a valid driver’s license and a lien-free title to their vehicle. Although they are more lenient than many banking institutions with regards to credit history, they do have some specific requirements of which you should be aware:

Credit History

Finova Financial does not require a high credit score or credit history, so you won’t have to worry about being turned away if you have poor credit.

Free and Clear Title

To secure financing, Finova Financial requires that the vehicle have sufficient equity to cover the loan. In addition, the loan applicant must be the owner named on the title, and the title must be free of any liens or encumbrances. Finally, the loan amount depends on the value of the vehicle, so you should have an idea of your car’s value before applying.

States of Operation

It is important to note that Finova Financial only operates in Arizona, California, Florida, New Mexico, South Carolina, and Tennessee, so although you can apply online, you may not procure a loan in your state. In addition, they will require proof of residency to ensure that the titleholder lives in a state where they operate.

Insurance Requirements

Finova Financial requires that the loan applicant has prepaid comprehensive and collision insurance for the loan duration, and Finova Financial must be named as an additional payee. Therefore, before you submit your application, be sure to contact your insurance company and have the documentation on hand for your coverage. Alternatively, you may purchase a Debt Cancellation Addendum through Finova Financial for an additional fee.


Although Finova Financial does not require good credit for CLOC financing, the loan applicant cannot be in bankruptcy at the time of the application. So, if you are in bankruptcy, wait until the process is complete before submitting your CLOC loan application.

How to Apply for a Finova Financial Loan 

Finova Financial uses innovative technology to provide an easy online application process. Provide your name and contact information, driver’s license number, and VIN, and you will be provided with a loan amount and APR based on your vehicle’s value. In addition, the website offers an easy form to request a call back from a Finova Financial representative if there are any discrepancies.

When you have reviewed your quote and are ready to complete your application, Finova Financial will require documented proof of title ownership, residency, and income. In addition, be sure that your title is lien-free and that you meet their insurance specifications. If you fulfill all of the requirements in your online application, same-day funding is available.

Finova Financial Prepaid Card

Finova Financial also offers a pre-paid Mastercard that allows you to request a loan when you need it. If you set up a direct debit of your paycheck into the account, you can get paid up to 2 days earlier. With the card, you can easily make purchases, pay bills online, and avoid overdraft fees. In addition, you can withdraw money in over 24,000 free MoneyPass ATMs and reload your card in more than 1,000 locations nationwide. 

The funds in your card are FDIC-insured as all your deposits are held at MetaBank, a Member of the FDIC, which also issues the Finova Financial pre-paid card. 

If you want to apply for the Finova Financial pre-prepaid card, you can do so on their website; no credit check is needed.

Finova Financial Final Review

For car owners in dire straits, a CLOC loan can be a real lifesaver. Or for people looking to get in their paycheck earlier, and the accessibility of applying for an emergency loan through their prepaid card too. 

With the high interest rates and fees out there for emergency loans, Finova Financial steps in to fill the gap for people with poor credit who cannot secure financing through traditional banking institutions. 

Although the interest rate is higher than some personal loans or credit cards, the short term of the loan and the opportunity to pay it off early without penalties make it an attractive option. In addition, making regular payments on your CLOC loan will improve your credit history and allow you to apply for other types of financing in the future.

Get Started with Finova Financial

You can visit Finova Financial website to start a CLOC loan application or to apply for a pre-paid card that allows you to request a short-term loan with them at any point. The whole process is completed online so that you can do this from the comfort of your home. Alternatively, they also offer a phone number for customers who prefer to complete the process on the phone or have any more questions about their products and services.

Reviews 99



5d2ce6ca68781900017bc5a5Loading TrustPilot
Discover financial services at Fiona and apply for loans and credit cards from multiple providers without filling out multiple applications.
51bc841400006400053c49e3Loading TrustPilot offers a free online service to match you with online lenders that offer loans for people with bad credit.
5d1f5564f49a260001a6e577Loading TrustPilot
Earnin is a paycheck advance app to help you get some of your paychecks in advance and open a savings account within the app.

Products and Services

Why Us

Use Your Car As Collateral

Get a short-term loan using your car as security with a CLOC loan.

Get A Loan With a Pre-Paid Card

Get a quick loan when you need it with this pre-paid card along with other benefits like getting paid 2 days earlier.

Manage Process Online

The application process is all completed online, as well as the loan payments. However, you can choose other payment methods too.


Get a Fast and Affordable Loan

Access quick loan funding when you need it using your car as security or applying for a pre-paid debit card.

Related Articles

What happens to personal loans when a borrower dies, depends on many factors including your relationship with the deceased. Learn your financial rights and obligations.
Read more
Using an online personal loan can save you money. Read more about SoFi personal loans, their products and how to apply for them.
Read more
A USAA personal loan is generally intended for military personnel, but there are some exceptions. Learn more about your potential eligibility.
Read more

More Like This

Connect with Us

Latest News

What happens to personal loans when a borrower dies, depends on many factors including your relationship with the deceased. Learn your financial rights and obligations.
Read more

This page’s information results from independent research by our editorial team, who does their best to reflect factual and accurate information about the financial institution and its products. Financial institutions are not responsible for the content posted on; visit the financial institutions’ website or contact it directly if you have any questions.

If you work for this financial institution and want to adjust any information, contact us at

* Finova Financial Prepaid Card is issued by MetaBank®, Member FDIC, pursuant to license by Mastercard International Incorporated.