iLending
AUTHORIZED PARTNER

iLending

 4.6/5 (211 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.

iLending Reviews

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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: 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.

iLending response

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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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 16, 2022

    Refinancing with iLending seemed like it took a length of time to do so because there were a couple of steps that we had to take. All in all, it took a month and a half to get it all finalized. The payment was due to my other finance company in the meantime and I didn't want to not make my payment. Then, I went ahead and made my payment and there was some glitch in-between there about the finalization pay-off. They're gonna mail me the difference. Other than that, the experience was pretty good. It's a 72-month refinance and I cut my payment in half and 80% of my interest rate by extending it out for another year. It was a smart and good option.

    Everyone I've talked to has been very lovely and there has not been anything that came up that they've not been able to talk me through and help me with. The person that I worked with, Marcel, was amazing. He spoke with me about all the terms and conditions of the refinance, asked me if I wanted to do whichever option, and was completely open to whatever I wanted to work with but was willing to give me his opinion and what was the best way to go about it in his eyes and what he has experienced. Also, every time I messaged him, he got right back to me. He was very helpful.

    iLending response

    Wow what amazing savings 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 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.

    Be the first one to find this review helpful
    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

    3 people found 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.

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    Rated with 3 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 13, 2022

    iLending got all the documentation together. However, they did not send proper documentation to the bank on things that I sent to them. And I had to follow up with the bank on stuff that I had already sent to iLending. My warranty was on cancelation that they sold me because they didn’t send all the details within the warranty when it was being purchased. So, the warranty company got a blank description of my truck. So, when it came down to actually needing the warranty, it wasn't honored because they failed to implement all the details.

    I reached out over a month ago. The person that I worked with sent me to their supervisor, who worked on it. He told me to call back the next week. I did. And he told me that customer service would call me and go over what I needed to do next. I let a week go by, just to give customer service a time to call me. But I never received a phone call from them. I ended up having to call them myself. They transferred me over to the cancelation department, who didn't answer. And when they called me back, they had no clue why I was calling them and left them a voicemail. So, I went over all the details with them.

    That associate was upset that I've been given the runaround for the past month, so she reached out to her supervisor. Her supervisor said that she would personally call the warranty company and give them all the details that they need and get everything processed due to everything that I've gone through. So, I'm still waiting on that phone call today from that supervisor as well.

    iLending response

    Thank you so much for your review! I was able to review your account and I see the error was corrected and you still have an active policy that can be used. Should you experience anything different than this when you make a claim please call our Client Services Manager Aliyah at 303-862-3309 for help.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 12, 2022

    I went online to try to refinance my car and then somebody from iLending called me the next day and see if they could lower my interest rate. They were able to. So, I ended up going with them. They're really friendly and nice. They helped me out and answered any questions I had. Go through them. They're really helpful.

    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: Nov. 12, 2022

    I was very pleased with iLending. Everything went very quickly and smoothly. It was a great experience. The representative was really nice and very quick. I will be refinancing my other car with them within the next three months. I will recommend them because they got me a good rate. I'm very happy with my new rate.

    iLending response

    We are happy to hear we were able to save you 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: Nov. 12, 2022

    Working with iLending was great and smooth. I've never refinanced a vehicle before. So, they made it very easy. They walked me through everything and told me what information I needed and helped me gather the information. For the position I am in life, I got a good rate. I would refer the company.

    iLending response

    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.

    Be the first one to find this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 12, 2022

    I contacted iLending and I got in with Charles pretty quickly. He was really good. He stayed communicating with me whether it was through text message, email, and verbally. He was really on point with everything. If I didn't understand something, he had a quick response. The process was overall quick. The only thing I didn't originally know was that pretty much they were the middleman. I know they find somebody for you, which is not a big deal. It just took a little bit of time when they had to communicate with them, and then who they chose to go with, who ended up taking us, or however it worked with the refinancing.

    I wasn't too pleased with their customer service per se. He did get us a lower interest rate and a better overall monthly payment. So, that was great. He also mentioned, "Hey, you guys you got two new cars. Give me a call back after your first payment closed. And we'll see what we can do." Unfortunately, since I reached out to him, he has not contacted me back and that's been about a week ago now.

    iLending response

    We are happy to hear Charles 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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    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