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iLending Auto Refinance Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
8 Customer Comments & Reviews - see all comments
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iLending is an online marketplace that connects customers looking to refinance their auto loan to credit unions, banks, and other lenders. In addition to auto refinance, the company provides additional loan and vehicle protections like GAP Waivers (Guaranteed Asset Protection) and Vehicle Service Contracts. iLending offers secured, simple interest auto title loans with no pre-payment penalties that can be customized to best suit customers’ needs based on monthly payment, interest rate, and loan term.

How is iLending rated?

Breakdown

4.5/5
Loan Details
4.5/5
Customer Experience

Overall Rating: 4.5 / 5 (Excellent)

iLending has a lot going for it in the world of auto refinance and protection. It has an excellent reputation with consumer watchdog groups. The company was awarded the Better Business Bureau® Torch Award for Outstanding Ethics & Compliance. It focuses on auto refinance and uses that expertise to move consumers into more affordable auto loans. As with all auto loan marketplaces, it isn’t possible to evaluate loan terms and qualifications, since the company deals with a number of banks and credit unions with varying requirements. Consumers should certainly pay close attention to those. But iLending does the specific things that it does very well.

Auto Loans & Refinancing

Loan Details - 4.5 / 5

iLending does not finance new or used car purchases or private party sales. Instead, it has carved out a niche in the world of auto refinance and expanded on it to include upgraded protections, like Vehicle Service Contracts, and GAP Waivers. Since it is not a lender itself, data relating to loan amounts, terms, and interest rates will vary greatly.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Loan Qualifications

Qualification - 4.5 / 5

Each lender that iLending refers its customers to sets its own loan requirements, so the details of how to qualify for a loan are inherently variable and can't be generally evaluated.

Borrower Qualifications

Minimum Age
Must be 18 or older
Minimum Income
$1,500/mo.
Minimum Credit Score
560
US Citizenship Requirement
No
Verification / Documents Required
Social Security Number
Driver's License / Photo ID
Proof of Insurance

Vehicle Qualifications

Mileage Limit
150,000 miles
Car Age
2009
Car Makes
Any Vehicle Make

Application & Service

Customer Experience - 4.5 / 5

iLending collects preliminary identifying information on its website from prospective customers through an easy-to-use interface. This information is matched with lenders, which then may deliver a refinance offer to the customer. The process is simple and well-executed.
Approval Time
1-3 Days
Funding Time
5-15 Days
Fees
$495 Documentation Fee for DMV Titles Processing
Benefits/ Features
Online Rates / Application
Pre-approval Soft-credit Inquiry

iLending Reputation & Reviews

Reputation - 4.5 / 5

iLending is one of the rare companies whose positive BBB reviews vastly outnumber its negative reviews. The company also appears to be very responsive to the complaints it does receive. It scores respectably well on TrustPilot. Its reputation is solid.
Trustpilot Rating
4.0 out of 5
BBB Rating
A+
Date Collected
2020-12-16

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
Company Phone
(866) 683-5505
Headquarters Address
7257 S. Tucson Way, Englewood, CO, 80112
Year Founded
2006

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8 Customer Comments & Reviews

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Robbin D
4/10/2024
I am so happy, to become a customer. Everyone is professional, & Joann has been so helpful, & pleasant from day 1. Thumbs up 😎 to iLending


locher.rebecca
3/27/2022
Hello. I am in process of refinancing. So far, I am not comfortable. I have not been given a lot of information on GAP or Service Protection. I already bought service protection when I bought my Motorcycle. Why don't I have the option to transfer with this loan? What if I have GAP already? I know it is not cheap. Are we supposed to have GAP and Service Protection? And why aren't documents or information shared up front? According to ESP, I have a ONE time opportunity to transfer to another owner. That doesn't make sense. My Service rep got impatient with me one time and that threw me off. Plus early delays in the process. Partly my fault too, but I haven't lost my cool. I... Read More


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Paula J
3/7/2022
I applied for auto refinance. J.Broussard assisted me with the process. Excellent service. Would recommend 100%.


jkl4now
9/23/2021
The refinance rate is great but the refinance experience was aggravating. The underwriter, Lawrence is terrible at his job. We had to email documents to him multiple times as he would call to say he hadn't received them yet. He sent us Docusign forms to fill out and sent back. When we signed them, he claimed we did them wrong. Then he resent them again, this time with him on the phone with us to walk us through. That was when he realized that that Ilendingdirect messed up and they would draw us up new forms. When were wrapping up the loan and he gave us instructions to send us updated insurance declarations page(which I already had weeks ago). I received the same instructions from the... Read More


manuelharris617
7/26/2021
I would just like to say what a great experience we recently had with I lending Direct the Loan Consultant Grant Geiser was excellent, Grant handled everything expeditiously, constantly communicating and coaching us along the way. Within a week after the transaction was completed, Grant checked in with us to make sure we applied for a refund of our GAP insurance premium we had financed with the initial purchase of the vehicle. we will most certainly contact him for future financing. Great company, great program, great customer service! Thank you, Grant Geiser


luprickett
6/11/2021
I placed an inquiry through Lending Tree, and Ryan Reynolds, of iLendingDIRECT, contacted me via text. We exchanged a few messages, but when I told him that I needed the whole process to be done via text or email, he completely ghosted me. To not be willing to use the tools at hand to accommodate someones hearing or speech loss is selfish and ablest.


Jewell S
4/12/2021
My name is Jewell Smotherman 2124 W. Main Street Louisville, Ky 40212 You have sent me a denial of a loan that I did not apply for. I want this removed from my credit report. Sky One Lending who I contacted referred me to you as you sent in this application. Please contact me at 502 6093512 to get this off of my credit report. Hopefully I do not have to take this further.


dshaw161
10/2/2020
We just had a remarkable experience. We refinanced with a significantly lower rate than we were paying. Kyle Wright handled everything expeditiously, constantly communicating and coaching us along the way. Within a week after the transaction was completed, Kyle checked in with us to make sure we applied for a refund of our GAP insurance premium we had financed with the initial purchase of the vehicle. Kyle is an excellent ambassador for ILending Direct, and we will most certainly contact him for future financing. Great company, great program, great customer service! Thank you, Kyle. Darrell S.



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