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).

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

Auto refinance loan amounts start at $6,000 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 auto loan refinancing product that ranges from 3.49% APR up to 20% 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 an auto 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?

Applicants with a credit score of at least 500 and up to 850 are eligible for Innovative Funding Services (IFS) Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for auto loan refinancing with Innovative Funding Services (IFS) Auto Refinance, applicants need a minimum annual income of $24,000 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.

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.

Only U.S. citizens and permanent residents can apply for a loan.

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 auto 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 an auto 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.