At a glance
![](https://www.bankrate.com/f/102997/3000x1800/e6299ee2f6/ilending-logo.png?auto=webp&fit=&width=200&format=pjpg)
- Availability
- Affordability
- Customer Experience
- Transparency
About iLending
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Loan amount
$5,000-$150,000
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Min. credit score
560
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APR from
5.49%-18.79%
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Funds available in
As soon as one day
Loan amount
$5,000-$150,000
Min. credit score
560
APR from
5.49%-18.79%
Funds available in
As soon as one day
iLending only offers auto loan refinancing rather than loans for new purchases. It serves borrowers with fair to excellent credit, so those with strong credit scores may secure lower rates. If your original APR was higher, that could result in big savings.
iLending is all about finding the right solution for your budget. It asks upfront whether you’re looking to lower your payment or interest rate and helps design a loan that meets your needs.
Personalized customer service and options to save you money sound great, but consider both the pros and cons of this refinancing service before you sign up.
Personal lending specialist
Low minimum credit score
Simple and quick application process
No in-person service
Unclear fees
Only refinances loans
If you want to refinance your auto loan, iLending may be the right place to start. iLending provides refinancing options for most vehicle loans with the goal of saving you money. The company has been around for over 15 years, and it has an A+ rating with the Better Business Bureau.
iLending provides each customer with a loan specialist to help you through the process. It even works with borrowers who have bad credit scores. While iLending is not a lender, it partners with banks and credit unions nationwide to find options to save you the most money.
Interested applicants should make sure they meet iLending's basic requirements.
Financial requirements:
Vehicle and loan requirements:
Gravity is another auto lender that may appeal to people looking to refinance their car loans. Gravity excels by having a lower minimum credit score and not charging any fees. And, unlike iLending, it lists a starting APR (annual percentage rate). However, it can take up to ten days from the time you’re approved to receive funding.
If you are looking to refinance your auto loan, you may want to consider RefiJet. Like iLending, this company isn’t a direct lender. It matches you with an expert who will assist you with applying for an auto loan and comparing your options. One unique feature is that RefiJet can help you cash out some of your car’s equity. However, iLending may offer better interest rates for well-qualified borrowers.
If you’re approved for refinancing, you’ll get personalized assistance to help navigate the lending process and may qualify for an impressively low rate. However, there is no in-person customer service, which may not be ideal for you.
Reach iLending customer service by phone at 855-358-4415 or through the chat service or email contact form on the iLending website. Customer service agents are available Monday through Friday from 6 a.m. to 8 p.m. MT, Saturday from 8 a.m. to 4 p.m. MT and Sunday from 10 a.m. to 3 p.m. MT.
Live chat and phone assistance are available in both Spanish and English. Multilingual support is an uncommon perk.
You’ll only find auto loan refinancing with iLending. It works as a third-party service between current borrowers and potential new lenders.
Current auto loan borrowers can use iLending services to search for lower interest rates or monthly payments. The lender states that its rates change frequently, so the rates listed above may no longer be available.
Working with many different lenders across the country means rates and terms vary. You can connect with one of the company’s loan specialists to find out specific loan term options that may be available to you.
You can apply to refinance your auto loan directly on iLending’s website. The application will ask for your basic info, like a Social Security number, your name, address and contact info. A loan specialist will then contact you to complete any needed information. According to its website, the application process should only take a few minutes.
iLending offers a few additional features for borrowers who want to refinance their auto loan.
When you refinance with iLending, you can buy gap insurance, which is additional insurance coverage used if your car is totaled and your auto insurance won’t cover your loan’s full balance. You can also purchase a vehicle service contract, paint and fabric protection or a complete care package that purports to save you money on minor repairs. Just remember that if you add these costs to your loan, you’ll pay interest on them. You may be able to find cheaper prices on these products elsewhere.
iLending also offers optional Vehicle Repayment Protection. This plan covers monthly payments for up to 90 days in the event of job loss or other financial distress.
The lender's FAQs state that it charges documentation and administration fees, but doesn't list specific amounts. It doesn't discuss what fees its partner lenders charge. This is common among loan marketplaces, as these details can vary among partner lenders.
Overall score | 3.9 | |
---|---|---|
Availability | 3.8 | Since iLending works with a wide network of lenders, it can help borrowers in any state. But it doesn’t provide its minimum or maximum loan amounts. |
Affordability | 3.1 | Rates, fees and other key cost information aren't available until you prequalify. |
Customer experience | 4.4 | Customer service is available seven days a week, and available in both English and Spanish. |
Transparency | 4.5 | Prequalification is available, but it's also the only way to preview your potential costs. |
The Bankrate team assessed more than 35 auto lenders to find the best. To rate lenders specializing in auto refinance loans, Bankrate considers 16 different criteria, including the loan amount, disclosed APR and acceptance criteria. Each lender receives a Bankrate score based on four categories.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.