iLending Auto Refinancing

iLending Auto Refinancing Review

iLending auto refinance is an auto loan refinance offering by iLending, based in Englewood, CO. Founded in 2006, iLending offers auto refinance loans in 50 states (and Washington, DC).

Key Takeaways

• APRs starting at 3.74%. There are average starting rates for an auto refinancing loan. If you have good credit you may qualify for a loan with better rates.
• Vehicle types. iLending refinances motorcycles, boats, RVs, ATVs, cars, and trucks.
• Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 540 are considered for iLending Auto Refinancing.
• Vehicle requirements. Vehicles must have less than 150,000 miles and a maximum age of 10 years.
• Refinancing for large loan amounts. You can refinance auto loans of up to $200,000 with iLending Auto Refinancing.
• Origination fees starting at $499.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
• No late fees. Missing a payment can seriously damage your credit, but iLending Auto Refinancing will not charge additional fees if you miss the due date on a payment.
• Long loan terms. iLending Auto Refinancing offers loan terms of up to 84 months. Most auto refinancing loans have a maximum term of 60 months.

iLending auto refinance Pros & Cons

iLending auto refinance FAQ

How much can you borrow via iLending auto refinance?

Auto refinance loan amounts start at $5,000 and go up to $200,000.

What are the auto loan refinancing rates offered through iLending auto refinance?

iLending auto refinance offers a fixed APR car loan refinancing product that ranges from 3.74% APR up to 22.00% APR.

What is the maximum loan term you can get with iLending auto refinance?

iLending auto refinance offers auto refinancing with terms ranging from 12 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

Does iLending auto refinance charge an origination fee on auto refinance loans?

Yes, iLending auto refinance charges a loan origination fee of $499.

Does iLending auto refinance charge a late fee?

No, iLending auto refinance will not charge you a late payment fee.

Does iLending auto refinance charge prepayment fees?

No, there is no prepayment penalty.

What do you need to qualify for iLending Auto Refinancing?

iLending Auto Refinancing does not have or does not disclose a minimum annual income eligibility requirement. iLending Auto Refinancing only considers borrowers who are employed. Note that borrowers can add a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via iLending Auto Refinancing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by iLending Auto Refinancing. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Driver's license
• Proof of citizenship or residence permit

What is the maximum mileage to refinance with iLending?

iLending is an option for high-mileage vehicles. They will consider car loan applications for vehicles with up to 150000 miles on the odometer.

What is the maximum car age to refinance with iLending?

Only vehicles that are 10 years old or less can qualify for an auto refinance.

What is the estimated funding time for a car loan refinance with iLending auto refinance?

Auto refinance loan applications are typically approved (or denied) within 24 hours and funded within 7 to 14 days of approval.