iLending
AUTHORIZED PARTNER

iLending

 4.6/5 (197 ratings)
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iLending
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Written by Lorraine Roberte
Edited by Jon Bortin

About iLending

ILending provides auto loan refinancing options. Despite the name, the company is not a direct lender. Instead, it works with banks and credit unions across the country to help customers find the lowest possible rates. The company promises that even if your credit score isn’t great, it will work to help you qualify for refinancing. A personal loan consultant guides you throughout the application process.

Overall Satisfaction Rating

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Pros

  • Advertised average savings of $145 a month
  • Low credit scores accepted
  • Rates as low as 1.99%
  • Terms up to 84 months

Cons

  • Not a direct lender
  • Limited cost information on website

Bottom Line

ILending provides customers with auto loan refinancing options through its lending partners. No upfront money is required, but info about fees is limited. Customers with low credit scores are welcome to apply.

What is iLending?

ILending shows you refinancing options from banks and credit unions for your car loan. According to the company, refinancing your auto loan with iLending can help you lower your monthly payment and interest rate. You’ll have a fixed rate and monthly payment for a set amount of time. Refinancing your loan through iLending can also lower the overall cost of your car and remove someone from your loan.

ILending helps customers with any type of credit. Even if you don’t initially qualify, the company promises to continue working with you to help you qualify. The company offers refinancing for loans associated with several other vehicle types, including motorcycles, boats, RVs and ATVs.

There is an iLending app available for both iPhone and Android devices. Customers can apply for refinancing, track their loan application status and communicate with their consultant.

How does iLending work?

To start the process, iLending provides customers with a personalized loan consultant. You and your personal consultant talk about your financial goals and discuss basic information about yourself and your vehicle.

From there, your consultant compares rates from lenders across the country. Once they have rate options for you, your consultant helps you decide which option best fits your needs. They then compile the information needed for your chosen option and help you complete your application. Finally, your application is submitted to your chosen lender and approved in as little as a week or less.

iLending fees

It’s entirely free to look into refinancing options through iLending. The company takes a fixed fee that’s worked into your new loan. Your annual percentage rate and monthly payment depend on several factors, including your credit score and the length of the loan. ILending advertises their lowest rate at 1.99% at the time of publishing.

There is no mention of any other possible fees on the website, such as origination fees, late fees or prepayment penalties. Be sure to discuss all the costs of a potential refinancing loan with your personal consultant before finalizing the loan, though.

iLending FAQ

How much can I save on my auto loan with iLending?

ILending customers save an average of $145 a month. This figure is based on the average monthly payments savings for all of the company’s customers between June 1, 2021, and Nov. 30, 2021.

How quickly can I refinance with iLending?

It only takes a couple of days to refinance your car loan. It depends on how quickly you can get your paperwork submitted to iLending.

Do I need a good credit score to refinance with iLending?

ILending doesn’t require a good credit score to qualify for refinancing. The company works with a number of banks and credit unions to help you qualify. Even if you don’t initially qualify, iLending helps you get qualified.

What types of vehicles can I refinance with iLending?

ILending refinances loans for many vehicle types, including:

  • Cars
  • Trucks
  • SUVs
  • Vans
  • RVs
  • ATVs
  • Motorcycles
  • Boats
Where is iLending headquartered?

ILending is headquartered in Englewood, Colorado.

Is iLending legit?

ILending is a legitimate option if you’re looking to refinance your auto loan. The company doesn’t directly refinance your loan; instead, it matches you with a lender that best suits your financial needs. Whether or not your credit is good, iLending works with you to get you qualified for the best possible loan options.

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Page 1 Reviews 0 - 5
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Feb. 27, 2022

Chase was fantastic. I had questions that were hard and while a lot of people get irritated when you ask questions, he told me he was glad I was asking questions and that he'd have been more concerned if I didn’t. He followed through with that. Every time I got a question, if he couldn't answer, he went to go find it and got a mentor.

We got refinanced and we still lowered our cost significantly and got more benefits. We did a protective thing too and I'm waiting for the packet. The only thing I didn’t like much was when he was sending me the flyers for those programs, they were very brief. I never got a whole lot of information about everything that wasn’t covered from the get-go. I had to go through more hoops than I thought was necessary. I would love to see them have that included, so that someone like Chase could answer that. But I love that he didn’t hard sell me on it. He provided one for the basic. I've done sales and I hate being a salesperson, except for when I was selling for Apple because Apple doesn't hard sell. We just answer questions and help them do that if they wanted to do it. I like that iLending is doing something similar.

iLending response

Thank you for your kind and constructive review. Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Feb. 3, 2022

    I’ve never refinanced before and was extremely nervous about the process. Coming from first-home foreclosure, my 780+ credit score was shot. An unexpected hit-n-run totaled our SUV, which lead to an unexpected vehicle purchase during the holidays. My >580 credit score awarded me a monthly payment of $798 @ 15.7% interest, I had now doubled my car payment. After rebuilding my credit for a year, I really needed to refinance my 2020 4Runner ASAP w/ interest rates being at an all time low. Repeatedly, I was unapproved, again lowering my newly rebuilt credit. I received a letter in the mail from iLending Direct guaranteeing me a 5.5% interest rate to refinance my truck. I took a shot in the dark and responded.

    A few days later Giuseppe ** was in contact with me and gave me a few pointers to get my best odds for approval of a lower payment & interest rate. Two weeks later, I gave Mr. ** the go ahead to run my credit for auto refinance. I was immediately approved @ 5.5% and a $200/mo LESS payment!! Thank you, thank you, thank you, Mr. ** & iLending Direct!!!! Together, they made my first time auto refinance experience run seamlessly & quickly! Within a couple business days I was able to sign papers to complete the lien transfer. Mr. ** was kind enough to work around my teaching schedule, always returned my calls, and answered ALL my questions. He was super nice, easy to work with, knowledgeable and respectful. I would highly recommend him and would immediately work with him again if needed! So much appreciation!!! Thanks again!!!!

    iLending response

    Thanks for the positive feedback! We're always happy to hear good things from our customers. Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Jan. 2, 2022

    The application process was very simple, and Troy, the rep, took care of us. We had a hiccup with my registration, where my husband's birthday is in December and my registration went out in December. I had to get our registration renewed, but our courthouse had a Covid outbreak and it was closed down for a few days. I had to wait until the courthouse opened back up and our registration took a week longer than it should have, but it wasn't anything to do with iLending.

    Troy helped me out every step of the way. He talked things over with me, told me what each paper meant and what I was signing, and he was really good with that. Anytime I call him, he was there to answer my questions. When I email him, he'd email me back promptly. This is the first time I ever did anything like this, and he helped me better understand the process and how much I was going to be paying back. The rate was a lot better than what I was paying, and I'm willing to pay more back in the long run. I was paying close to $700 a month, and now, it's down to $490, which helps us out a lot. If anybody wants to do a refinance on their vehicle or any kind of loan, they should go through iLending.

    iLending response

    We are glad we were able to save you so much money! Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

    Be the first one to find this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 6, 2021

    I got laid off temporarily at work. I was doing my budget, and I was really cutting it close with my payments and what I was going to be bringing because it's only 50% of your income when you're on unemployment. So, I started looking for ways to save money. I started looking at my APRs on my credit cards, and my car loan. My friend had told me that he refinanced his car and his payment went way down. I just happened to open up my car loan, and I saw it was 12.9. So, I looked into refinancing that first because credit cards are so hard to deal with. They want to write you off and just ruin your credit. So, I thought I would start there with the car loan and go from there.

    The whole process took one week only to get an answer about the car. But I'm still waiting to see and to get the final paperwork. So, it's about three weeks now total. The rep was very friendly and easy to work with. The only thing I didn't like was he said he was going to do a soft credit check, which was fine. I had too many inquiries in the past 24 months. A couple times, I looked into different options to lower payments, and they all did hard inquiries. That really screwed me. So, I asked him that right off the bat. He said, “It’s just soft inquiry. But if we find a lender, then they’ll do the hard inquiry.” He kept going around about to answer me. I said, “Well, is there any way that I could get turned down after the hard inquiry?” He just kept saying, “Well, they're gonna do it. They have the option to this or that.” I said, “I just want a yes or no. Is it possible to get denied the loan after they do the hard inquiries?”

    Overall, refinancing with iLending was super easy. Their guy takes care of everything for you. He's really into helping you until you give him all your paperwork. Then after you sign all the paperwork and everything's done, you don't hear from him. I didn't hear from him for almost two weeks. I messaged them and I said, “Hey, what's going on with that loan? Because I got a letter in the mail saying, ‘Unfortunately, we couldn't…’ I don't know if this was from you or if this something else. I don't know what's going on.” I still didn't hear from them. Then last week, I got a text from them saying, “Hey, Melissa. How's it going?” I had to look it up. I looked at a couple previous texts. I was like, “Oh, my God. It’s the guy from the loan.” It was just weird how he would message me three or four times, or called continuously until I got all the paperwork in. Then when I was excited about hearing back from him, when I need my paperwork, I hear nothing.

    iLending response

    Hello, thanks for the positive feedback! We're always happy to hear good things from our customers. We are glad you were satisfied and saved some money.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 15, 2021

    I googled refinance places that help with bad credit, and iLending was the first one that popped up. I put in my information and I got a call back right away. Then they helped me out. The application process was very quick. It took me maybe 10 minutes just to enter everything and submit it. The person who helped me, Matthew, was very helpful, answered all my questions and made it as easy as possible. I thought it would be a lot more difficult uploading files and sending him all the information. He would call me or would just text me, which was easier for me, especially because sometimes I would be at work. So, texting is a lot easier. It was pretty headache-free.

    If you are answering any questions from the person you're working with, and if you notice that you made a mistake in some things, uploading those files makes them double check that work and they can verify everything is correct that way. Matthew goes out of his way to make sure you understand everything. I highly would recommend him to anyone else. I was impressed with how quick and how willing he answered my questions. I was pretty upfront with him and let him know that it's my first time refinancing. My credit’s not that good. He was more than happy to work through all that with me and gave me some good advice. He was more than happy to take it step by step with me, which I very greatly appreciated.

    I thought the process would be a lot more difficult than it was. Matthew helped me out in that. If I was having trouble with something, he would go through it with me. Sometimes he would contact certain people on my behalf if I was having trouble or he would go step by step on how I can contact those certain people. He talked to me about getting all the documents notarized, signed, and then sent back. He was like, “I can expedite this process if you get it back to me within this amount of time or by here.” Every time I send something through, whether it's via email or text, he always confirms that he has received them, and that he will be working on that process for me. Everything was really good. The rate was pretty close to what I already had. He got it lower than what I expected even if it wasn't by a lot. So, that was very much appreciated.

    iLending response

    Hello Olivia, thanks for the positive feedback! We're always happy to hear good things from our customers.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 23, 2022

    The refi with iLending was straightforward and easy. I had to print out and send forms to them. They got everything situated. It was a good deal. The new rate and terms were a lot better than they were. But I wish I would have gotten information on how to pay my loan. I'm trying to figure that out before I’m late on it.

    iLending response

    Thank you for your nice review. feel free to call our customer service line and we will resend those documents for you so that you know when your payment is due. We can be reached at 303-607-6203. Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 17, 2022

    Needed to refi my car note. iLending made an offer I could not refuse. They cut my interest rate in half which cut my payment in half. Yes, it increased the time frame but money wise it is the same amount. Would definitely do it again.

    iLending response

    Thank you for your kind review. Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 15, 2022

    The loan reps were outstanding! I would recommend to anyone wanting to refinance an automobile. They were so helpful and got me a great interest rate. I was at 14 percent and they got my interest rate down to 5.5 percent. Thank you you iLending!

    iLending response

    What wonderful savings! Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 15, 2022

    It was phenomenal with iLending. Anyone trying to do a transaction like that over the phone is a bit skeptical so I asked for all kinds of verification and copies sent to my email of everything. Marvin helped me out and gave me everything I wanted to make me feel comfortable with refinancing. He was extremely professional. His interpersonal skills and professionalism helped me seal the deal too. Everything went incredibly smooth and quick. I cut my rate in over half. I was at 12.1 before and I'm at 5.5. I went from 72 months to 60 months, which shaved two payments off. I bought GAP insurance and was still at 398 a month from paying 456.

    iLending response

    Thank you for your amazing review. Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 15, 2022

    Very quick process and good rates. All done very timely and almost rushed but done in a matter of a day or two. They did all the work except for me going to FedEx twice. Once papers were were received loan was instantaneous.

    iLending response

    Thank you for the nice review, we are glad we were able to help you. Be sure to let your friends and family know if they’re interested in refinancing their auto loan, we can help them out! If they refinance with us, we will send you a gift card as a thank you.

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    iLending Company Information

    Company Name:
    iLending
    Formerly Named:
    iLendingDIRECT
    Address:
    7257 S. Tucson Way
    City:
    Englewood
    State/Province:
    CO
    Postal Code:
    80112
    Country:
    United States
    Website:
    www.ilendingdirect.com