We know how it feels to get a new or new to you car. Such giddy excitement! Often, you’re so eager to get this new car that you’ll accept any loan terms the dealer might offer. However, time passes, and while you might still love your car, you might not be happy with the terms of your loan anymore. But what can you do?
At iLending, we can help. We offer a personal approach to refinancing your car loan. We can help you figure out how to get what you want from car refinancing. Car refinancing can help you change the loan terms to save money. You can lower the overall cost of your car by lowering your interest rate and your monthly payment.
Refinancing is the process of lowering your interest rate to save you money on your car loan. A car refinance loan is a loan used to pay the existing balance on a current, higher-rate car loan. The new, refinanced car loan has a lower fixed interest rate and fixed monthly payments for a set period of time or term. This may give you lower, predictable payment every month.
Yes! Refinancing a car can save you money every month, which can give you more space in your budget for other things: rent, food, or even luxuries. It can also reduce the total price of your car.
People get car refinancing because they are unhappy with the terms of their current car loan. At iLending, we can help you improve your car loan by:
We understand: your monthly budget can be tight. There are many items on your budget that you can’t really negotiate. In general, most living expenses will increase over time. But your monthly car payment is something that you can negotiate. Your initial lender rarely offers the best terms, but iLending can connect you with other lenders who are prepared to offer you better terms, including a lower monthly payment. On average, people save $144* per month after refinancing with iLending. Check out our monthly savings calculator to get an idea how much you might save.
At iLending, we follow a 5-step process to car refinancing. In this process, we:
At iLending, we take a You First Approach and a personalized approach to car refinancing. We think of our clients like family, and we want to make sure we’re steering you in the right direction. So we start by talking to you about your personal goals for this loan as well as any limitations you might have.
Once we know what you’re looking for in car refinancing, we scour all the loans and terms available from lenders across the country. We've worked hard to become partners with many credit unions and financial institutions.
Then we will talk though your options. We will give you the benefit of our financial insight and experience so you can understand the different terms. Then you can decide on what is best for you. Once you’ve made that decision, we will work with you to assemble all the documentation necessary to complete the loan application.
When your application is complete, we will submit it to the lender. The lender will consider the loan application, but because we’ve done everything necessary for the application, including making sure you’re a good candidate, approval usually doesn’t take very long. Typically, you’re approved in under a week.
As soon as we get notification that you’re approved, we’ll let you know. Congratulations – your savings start immediately!
There are many potential lenders you can go to for your auto refinancing. However, when you consider your options, we know that you’ll choose iLending because our You First Approach will deliver the exceptional experience you deserve. We:
At iLending, respect is one of our core values. To us, respect for our clients means that we treat everyone well. We listen to truly understand who you are and what you need, and we strive to feel what you feel about your situation and your goals. We call this treating all our employees and customers like family.
Once we understand what you need from a loan, we utilize our access to a national database of lenders to find the best option that fits your situation. We will try to achieve as many of your goals as possible, and if we can find unexpected opportunities to get more than you needed, we will let you know.
We believe in giving 100% to all our clients. We will always make sure we are doing everything we can to get you the best auto refinancing options.
To ensure we are always giving 100%, we are constantly reassessing our loan process. This means trying to figure out if there are ways to be better at what we do: ways to give you a better experience or better results. This means that every time you or someone you recommend visits iLending for car refinancing, the experience and results should be better than the last time.