Innovative Funding Services (IFS) Auto Refinance Review

Innovative Funding Services (IFS) Auto Refinance is an auto loan refinance offering by Innovative Funding Services, based in Cedar Park, TX. Founded in 2007, Innovative Funding Services offers auto refinance loans in 50 states (and Washington, DC).

• APRs starting at 2.49%. The starting rates for Innovative Funding Services (IFS) Auto Refinance are on the lower end of the spectrum.
• Lease buyouts. Offers refinancing to buyout an expensive lease or purchase a company car.
• Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 500 are considered for Innovative Funding Services (IFS) Auto Refinance.
• 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 $100,000 with Innovative Funding Services (IFS) Auto Refinance.
• Fast funding process. In some cases, you may be able to refinance the loan within one business day.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the auto refinance loan early.
• No origination fee. Innovative Funding Services (IFS) Auto Refinance does not charge an origination fee for processing your loan application.
• Long loan terms. Innovative Funding Services (IFS) Auto Refinance offers loan terms of up to 84 months. Most auto refinancing loans have a maximum term of 60 months.
• Minimum income of $18,000. You will need an annual income of at least $18,000 to apply for Innovative Funding Services (IFS) Auto Refinance, which is below average for the lenders in our database

How much can you borrow via Innovative Funding Services (IFS) Auto Refinance?

Auto refinance loan amounts start at $5,000 and go up to $100,000.

What are the auto loan refinancing rates offered through Innovative Funding Services (IFS) Auto Refinance?

Innovative Funding Services (IFS) Auto Refinance offers a fixed APR car loan refinancing product that ranges from 2.49% APR up to 23.99% APR. Interest rates vary by state.

Interest rates vary by state.

What is the maximum loan term you can get with Innovative Funding Services (IFS) Auto Refinance?

Innovative Funding Services (IFS) Auto Refinance offers auto refinancing with terms ranging from 36 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 Innovative Funding Services (IFS) Auto Refinance charge an origination fee on auto refinance loans?

No, Innovative Funding Services (IFS) Auto Refinance does not charge a loan origination fee for refinancing a car loan.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.

Does Innovative Funding Services (IFS) Auto Refinance charge a late fee?

Yes, auto refinance loans via Innovative Funding Services (IFS) Auto Refinance are subject to late payment penalty fees.

Does Innovative Funding Services (IFS) Auto Refinance charge prepayment fees?

Yes, Innovative Funding Services (IFS) Auto Refinance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment feees can reduce or even cancel the interest savings of repaying a loan early.

What do you need to qualify for Innovative Funding Services (IFS) Auto Refinance?

To qualify for auto loan refinancing with Innovative Funding Services (IFS) Auto Refinance, applicants need a minimum annual income of $18,000 or higher. Innovative Funding Services (IFS) Auto Refinance will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. 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 Innovative Funding Services (IFS) Auto Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Innovative Funding Services (IFS) Auto Refinance. Permanent resident / green card holders are also eligible to apply.

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

• Recent pay stubs
• Proof of insurance
• Driver's license

What is the maximum mileage to refinance with Innovative Funding Services?

Innovative Funding Services 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 Innovative Funding Services?

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 Innovative Funding Services (IFS) Auto Refinance?

Auto refinance loan applications are typically approved (or denied) within 24 hours and funded within 0 to 1 days of approval.