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iLending: 2022 Auto Loan Refinancing Review

2022-05-24 10:00:00

At a glance


Bankrate Score

  • Availability
  • Affordability
  • Customer Experience
  • Transparency
Compare auto loan rates
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About iLending

  • Moneybag

    Loan amount

    Not specified

  • Credit Good

    Min. credit score


  • Rates

    APR from

    Starting at 1.99%

  • Funds available in

    As soon as one day

iLending features

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.


  • Checkmark

    Customer service

  • Checkmark

    Easy application


  • Close X

    Only refi loans

  • Close X

    No in-person assistance

If you want to refinance your vehicle 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. 

With each customer, iLending provides a loan specialist to help you through the case. They even work with borrowers who have bad credit scores. While iLending is not a lender, they partner with banks and credit unions around the nation to find the loan options that will save you the most money.

Pros and cons of iLending auto loan refinancing


  • Personal lending specialist. Each customer is assigned a personal lending specialist to work with throughout their refinancing process.  
  • Work with low credit scores. iLending will work with you even if you have a credit score as low as 560.  
  • Simple and quick application process. You can apply online through a streamlined process that should only take a few minutes. 


  • Only refinance vehicle loans. iLending doesn’t help with new loans and they only service loans for vehicles, so they won’t be able to help with any other type of loan refinance, such as a mortgage refinance.  
  • No in-person service. Part of how iLending helps you save money is by operating with lower overhead costs — meaning they don’t have any in-person locations.  

Who is iLending best for?

iLending provides convenient, quick and simple refinancing options for most types of vehicles. It works with many different lenders across the country to give its customers as many options as possible for their refinance. Additionally, iLending operates fully online, so you never have to leave the comfort of your home to speak with your assigned loan specialist. 

iLending specializes in auto loan refinancing

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 if they are looking for lower interest rates or to lower their monthly payment.  

Interest rates and terms

Working with many different lenders across the country means rates and terms vary quite a bit. Interest rates start as low as 1.99% APR. Loan terms range anywhere from 12 months to 84 months. You can connect with one of the company’s loan specialists to find out specific loan term options that may be available to you.  

How to apply for a loan with iLending

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.  

Auto loan refinancing requirements

Interested applicants should make sure they meet a few basic requirements. You will need a credit score of at least 560, some equity in the vehicle, and a good debt-to-income (DTI) ratio to apply. You can determine your DTI using a debt-to-income ratio calculator.  

Customer service

Anyone interested in talking to iLending customer service can reach out by phone, through the chat service on the iLending website or through the email contact form on its 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.

How Bankrate rates iLending

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 3.6 Rates start low at 1.99 percent APR, and it can work with borrowers who have credit scores as low as 560. You won’t find a maximum APR though, and fees aren’t specified.
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 only the minimum rate is available before you enter your information.
Editorial disclosure: All reviews are prepared by 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.
Written by
Emma Woodward
Contributing writer

Emma Woodward is a former contributor for Bankrate and a freelance writer who loves writing to demystify personal finance topics. She has written for companies and publications like Finch, Toast, JBD Clothiers and The Financial Diet.