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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.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.
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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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.
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.
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.
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.
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.
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.
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.
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.
The application process with iLending was seamless. I was in contact a lot with the representative. The initial process was online, and then thereafter, someone contacted me. Communication was excellent. I get fairly quick responses. If I submitted something and then they needed something else, it was just back and forth communication. I didn't have to wait days before hearing back.
This is awesome 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.
My rep helped me understand because when I looked at my loan, it looked like I'd be paying another seven years. But he broke it down and told me that if I did it a certain way, I would be paying off the loan in my exact same time. The rates were great. I'm paying a buck 30 less. But I'm still wondering because I didn't get my rebate back yet.
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.
They reached out to us and got everything done within five days. We also got a good rate, better than what we had. The experience was great. The process was very easy.
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.
iLending is a company that negotiates with debtors to reduce interest rates and their rate and terms were reasonable. The reps were professional and very informative. They had a nice PowerPoint presentation on where it’s at and what it was gonna go to. It was a good experience. People should hear them out to see if it fits them.
We appreciate 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.
The process with iLending was easy. I just waited a few days and then, I got a call. I went over everything on the phone call and it was seamless. One of the agents was willing to send text back and forth and help me get everything figured out. The other guy did the digital signing with that little robot that signs the papers and that was helpful too. Everything went good for me.
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.
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