iLending

iLending Reviews

iLending Reviews
4.7(333)
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Overall Rating4.7 out of 5
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About iLending Reviews

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.

Pros & Cons

Pros

  • Advertised average savings of $133 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 $133 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.

iLending Reviews

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Customer ServiceStaffLoan ProcessRates

Reviewed April 1, 2023

I spoke with a young lady named Ambrosia that works at iLending and I worked with her for my first two vehicles. My truck was the biggest change that I saw. It originally had a 26% interest rate on the original loan that I had and I had been paying that interest rate for about eight or nine months. Nobody wanted to give me the money for the truck because the truck was so old. But with iLending, my interest rate went from 26% to 5.5%. My payment went from 542 a month to 300 a month on my truck. My motorcycle had a 16% or 17% interest rate and it's now at 7.7%.

A couple of months ago, I wanted to keep a somewhat cheap economical car so I'll always have something I can drive. I bought a car and I already knew I was going to refinance it because I knew I could turn around and go right back to Ambrosia. The problem was iLending could not get me with the same lender that I am with on the other two loans. They no longer do two loans at once and they've already done two loans with Hughes for me. They can't go back to Hughes and get me another one. They got my loan approved with a company called Foresight Capital. I did a little research online about Foresight and the reviews are not very good. However, it took my interest rate from 29% to 16%.

Also, this last time, I had to deal with a different individual, who I didn't have that history with. He did not communicate with me as well as Ambrosia did. But different people do business in different ways. Whereas she would keep me in the loop with everything she was doing, he would keep me in the loop whenever there was progress. But I did have to reach out to him once when I hadn't heard anything and he finally messaged me back and apologized for not reaching out. That was the only hiccup that I had.

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Response from iLending

Wow awesome 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.

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    Customer ServiceStaffLoan Process

    Reviewed Feb. 10, 2023

    .I worked with iLending to get my car refinanced. They were one of the fastest to respond and one of the friendliest. The guy that worked with me was amazing and he went out of his way to help me. Sometimes we were playing phone tag, but that's because of the time difference. I'm in East Coast and he's not. But he still always managed to find a way to get ahold of me whenever I needed something or had a question. He made me feel very comfortable throughout the process and he made it easy. He even sat there and walked through each thing with me. Sometimes, my questions were stupid because I didn't understand all these stuff. But he very patiently explained it to me in layman's terms so that I could understand it. So I really appreciated that and in my eyes, that set them apart from the other companies that I was discussing stuff with.

    The paperwork was pretty easy and the process was quicker than I thought it would be. I just had to make sure I had all the proper documents, which I did. I had to get extra stuff because I originally had a loan with me and my dad on it. I had to remove him, so that way, we didn't have to worry about it at all and that was also easier to do than I thought that would be. The terms of the loan were acceptable and they dropped my payment down so much. I was very happy to see the numbers.

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    Response from iLending

    This is great news! 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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    Customer ServiceStaffLoan ProcessRates

    Reviewed Feb. 5, 2023

    I have Credit Sesame and every once in a while, I get inquiries about lowering my car monthly payment, this, and that. I also got some letters in the mail. I decided to call one of them one time and it was iLending. We got the ball rolling. I spoke with a man named John and he was helpful to the fullest, all the way through. John was patient and he walked me through everything. He never batted an eyelash whenever I ran into some stumps. We had to do some things. We had to show them proof of this, proof of that, and send him what he needed. He kept telling me and guiding me in the right way. We made it work.

    Sending in stuff was a small price to pay for what happened to me. I don't get out much but I had to go and send this off at Walgreens down the street. It was no skin off my back to do it. Everything was self-explanatory, right on time, and nothing was too hard. Some of that was a little bit longer than I anticipated because my girlfriend was probably working at the time. Sometimes, I had to wait on her to get off before I can send something. I am no expert with these new phones, signing stuff over the phone, and emailing people and all of that stuff. Most of the time, I had to wait on my girlfriend. When she got here, she did it and it wasn't any problem for her. One benefit of iLending was I was able to lower my car payment and got a better interest rate. There was also all the incentives that came with it.

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    Response from iLending

    We are happy John provided excellent service. 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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    Customer ServiceStaffLoan ProcessRates

    Reviewed Jan. 19, 2023

    iLending got me refinanced for a lower rate. I had a good experience. I called them and said, "Hey, do you guys wanna refinance this thing for me? I have an out of date coupon." They asked if I had a code on it and I said, "Yeah." Then they said they could look into it. The rep said, "Oh, so you're paying about 450 a month, huh? And you owe about 18,000, 19,000 or whatever." I said, "Yeah. And I've been working on my credit." Then he said, "Oh, yeah. Good job. I can see that." So whether that was true, that felt good while I'm walking them through it.

    I bought the truck knowing that I wanted to refi eventually. I also wanted to improve my credit. So iLending just advertised at the right time. They answered the call with the right attitude. From that point on, I was optimistic. The process did take a while. But they didn't mislead me. The rep said "if not today, tomorrow" stuff like that because of the time difference a lot of times. It's 11:00 here, but it's probably not morning where they are. So the rep was gonna close before me, but he said, "By tomorrow, you'll have something."

    There were some confusing bumps along the road. They said, "Yeah. We can offer you 300 something a month." I said, "I don't do amortization in my head. So am I make it out good here? Like what could I be missing basically if I pay how many months times how many dollars and how does that compare to what I already owe? And okay, if it's close but different, what are the reasons it’s different?" They told me that I would only get to skip one payment and I would get back the difference gap. I didn't get my gap thing yet. But I finally got mailed it and said I was gonna get it.

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    Response from iLending

    Thank you for your positive feedback! 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.

    Verified purchase

    Reviewed Oct. 7, 2022

    iLending contacted me about refinancing one of our cars. The process was easy. We were assigned one guy. We weren't in a huge rush to get the process done, which was fine. They stayed with it to get it through and no part of it was painful but if we desperately needed to get it done really quickly, maybe that would have been an issue because it took about three weeks to close the deal.

    The guy we were talking with, Marcus, was very competent. When we finally got to the signing stage, he talked us over the phone, both my son and I, through signing the documents. So, he was really helpful. It was just a matter of him doing part of the deal in that he puts it together, and then it has to go up and get approved, and then it has to come back down, and then it has to be actuated. That process itself was not streamlined, but we didn't need it to be. Every time he contacted us, he was ready to push it forward and it did move forward. It just didn't move forward at a breakneck pace. He was responsive every time we talked together. If there was a matter of identifying something that needed to get done, he did it very quickly.

    iLending gave us a 5.3 rate, and the rate that they quoted us to get us interested was the rate that the loan went for. So, there was no bait and switch. If anybody says we have to go in the back room and sharpen a bunch of pencils, I have a tendency to run out of the room. So, there was none of that. The rate that they said that they could come in for was the rate that they delivered. If somebody needs to refinance a car, as long as they can work through their process, I would recommend iLending.

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    Response from iLending

    we are happy to hear you had a good experience! 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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    Customer ServiceStaffLoan Process

    Reviewed May 20, 2023

    iLendingDIRECT told me about my situation and what I need to be done. They asked me whether the paper said a certain thing and it added up to what they said on the paper. I took the deal. The loan rep was a good person and was very helpful. He was knowledgeable and very kind. He gave me the best deal than what everybody else had going on. If my friends needed help and own their own cars, I would tell them that iLending is the best. I explained to them and they helped me out a lot. I recommended iLending to a friend of mine. I did the thing where they said you recommend somebody to them, they give you a gift card.

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    Response from iLending

    We are happy to hear you had a great experience! 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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    Customer ServiceStaffLoan ProcessRates

    Reviewed May 12, 2023

    I filled out my application online, and then they called me back almost immediately. I liked the deals, and they gave me money. I was happy with the new rate. It was better than I was getting. The guy that I was working with was nice and seemed to be pretty helpful. He was real communicative. Everything went well.

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    Response from iLending

    this is great news! 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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    Customer ServiceStaffLoan ProcessRates

    Reviewed May 10, 2023

    I got a letter in the mail saying I was preapproved for iLending. There was a thing online that I had to put in then they said they would be contacting me. They contacted me fairly quickly within minutes. The loan process was pretty quick. I wasn't able to sign off the paperwork in person so we used a robot thing. They were able to work around whatever I had going on. I was impressed by how helpful customer service was. Aside from a couple of bumps, the process was fairly easy. I got my loan and the interest down on it.

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    Response from iLending

    We are happy to hear that you had a great experience! 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.

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 10, 2023

    The process was pretty good. It was easy. The rep that was helping me was really good. He kept making a follow-up calls regarding what I needed to do. iLending also pays for some service, like oil changes, and I like that. There's also a GAP insurance. So all of that together, it's good for the price I'm paying.

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    Response from iLending

    This is great news! 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.

    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed May 10, 2023

    iLending was excellent with taking care of my needs. Once I entered my information, within 10 minutes I got a call from one of them and we moved through the process seamlessly. It took a few days to run through all the necessary paperwork. Joe was excellent, very informative, knew what he was talking about. iLending had the best rates. I recommend them.

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    Response from iLending

    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.

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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