We know the feeling of driving off in a new, or new-to-you, car. It’s exciting, empowering, and often comes with a quick decision at the dealership. In the rush to get the keys, many people accept auto loan terms that aren’t ideal. Fast forward a few months or years, and you may still love your car, but not the auto loan that came with it.
That’s where iLending comes in. As a trusted refinance company for cars, we take a personal, supportive approach to helping you reshape your auto loan. Whether you’re dealing with high interest rates, unaffordable monthly car payments, or simply want more control over your finances, refinancing can make a real difference. We help you explore options to lower your rate, reduce your monthly payment, or both to ultimately help you save money and breathe a little easier. Best of all, checking your options for vehicle refinancing with iLending won’t impact your credit score.
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 payments every month. Refinancing your auto loan simply means replacing your current loan with a new one, ideally with better terms. You’re not taking out a second loan; you’re swapping your existing one for a new loan that fits your current financial situation more comfortably. The goal is usually to secure a lower interest rate, reduce your monthly payment, or both. This process can help you save money over the life of the loan while making your payments more manageable. It’s a practical option for many borrowers whose credit or finances have improved since they first financed their vehicle.
Yes! Refinancing an automobile can save you money every month, which can give you more space in your budget for other things: rent, food, or even luxuries. By securing a lower interest rate on your auto loan, you may pay less over the life of the loan. If your original loan had a high rate, refinancing can make a big difference in both your monthly payments and overall cost.
Many drivers find themselves looking into car refinancing because they are unhappy with the terms of their current car loan, and they feel locked into a car loan that no longer serves their needs.
At iLending, we can help you improve your car loan by:
We understand: your monthly budget can be tight. Many items on your budget are truly non-negotiable. As we’ve seen happen recently, most living expenses will increase over time. But your monthly car payment and the terms of your auto loan are 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 your auto refinance. On average, people save $148* per month after refinancing with iLending. Check out our monthly car refinancing savings calculator to get an idea of how much you might save with a refinance loan.
At iLending, we’ve worked hard to create a hassle-free process. Refinancing your car loan has never been easier!
Talk to a Loan Consultant and take control of your finances!
Get StartedAt iLending, we follow a 5-step process to refinance your car During the auto refinance 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 auto loan, as well as any credit limitations you might have.
Once we know what you’re looking for in car refinancing, we scour all the auto loans, refinance rates, 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 about your refinancing options. We will give you the benefit of our financial insight and vast experience with auto loan refinancing 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 to make sure you qualify without negatively impacting your credit long-term.
When your application for the refinance loan 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 within 24 hours, often same day!
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 to auto loans 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 an auto 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, including working hard to find you the best rates and protect your credit score. As a trusted refinance company for cars, we go the extra mile and let you know if we find additional opportunities for you to save.
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 refer comes to iLending for auto loan refinancing, our goal is to make the experience smoother and the results even better than before.