Refinancing a car loan can trim more than $100 off a monthly payment, yet many drivers never check because they assume the process is a hassle. iLending is one of the companies built to remove that friction. It shops your loan across a network of lenders and gives you one person to handle the paperwork.
But is iLending legit, and how much can you actually save? Here is an honest look at how it works, what it costs, and where it falls short. Terms apply; APRs vary by creditworthiness.
| Feature | Details |
|---|---|
| Company | iLending |
| What it does | Auto refinance broker matching you to a lender network |
| Min credit score | 560 (varies by lender) |
| Loan types | Auto refinance, cash-out refinance |
| Avg savings / APR | About $148/month saved; APRs commonly ~4.99%-19.24% |
| Notable fees | Processing fee up to $549 |
| Availability | 47 states (not HI, NH, RI) |
What iLending Is and How It Works
iLending is an auto refinance broker based in Colorado with more than 15 years in the business. It does not lend its own money. Instead, it collects one application from you and shops it across a network of lenders, many of them credit unions.
You start with a short online form that uses a soft credit check, so it does not hurt your score. From there, a dedicated loan consultant reviews your offers with you and handles the details, including contacting your current lender and sorting out the title paperwork.
Decisions can come in as little as 24 hours. Depending on the lender you match with, you may be able to skip 45 to 90 days of payments while the new loan is set up, though interest can still accrue. If you want a service that shops many lenders for you and assigns one person to walk you through it, iLending is built for exactly that.
How Much Can You Save
iLending reports that clients save an average of about $148 per month by refinancing, as of July 2026. Your result depends on your current rate, your credit, and how much you still owe.
Third-party reviews put iLending refinance APRs at roughly 4.99% to 19.24%, though iLending does not guarantee a single minimum APR because offers come from many different lenders. Terms apply; APRs vary by creditworthiness.
Refinancing tends to help most when rates have dropped since you bought, your credit has improved, or your original loan carried a high dealer markup. It saves less if you are far into your term or close to paying the loan off.
Rates, Fees, and Credit Requirements
Here is where the honesty matters. iLending charges an administrative and document processing fee of up to $549, which can be rolled into the new loan. That fee eats into your savings, so check whether the lower payment still comes out ahead after the cost.
To qualify, you generally need a credit score of 560 or higher, at least six months of credit history, and $1,500 or more in monthly income. Some network lenders accept older vehicles, up to 20 years old and 300,000 miles, though limits vary by lender.
Pros and Cons
On the plus side, iLending accepts lower credit scores than many competitors, making it a real option if you need to refinance a car with bad credit, offers a hands-on consultant, uses a soft pull to prequalify, and can move quickly. Public feedback often praises individual loan consultants by name.
On the downside, the processing fee of up to $549 is higher than some rivals that charge nothing. Service runs through a consultant rather than a fully self-serve site, which some people prefer and others find slower. It also does not operate in Hawaii, New Hampshire, or Rhode Island.
How iLending Stacks Up Against Alternatives
iLending is a strong fit if you want one service to shop dozens of lenders for you and prefer a real person to guide you rather than clicking through a website alone.
If you would rather also compare purchase loans or a lease buyout in the same place, myAutoloan runs a marketplace of 20-plus lenders covering new car, used car, private-party, refinance, and lease buyout loans, and can return up to four offers within minutes.
myAutoloan
myAutoloan
Find the right auto loan in minutes — even with bad credit. myAutoloan connects you with 20+ lenders to compare personalized offers for new cars, used cars, refinancing, and lease buyouts. Free to use with no obligation.
Standout feature
Compare offers from 20+ lenders. Works with bad credit. BBB A+ rated.
Fees
Free
Pros
Free to use with no obligation. Works with all credit types including bad credit. BBB A+ accredited.
Cons
Some users report receiving calls from multiple dealers after applying.
The Bottom Line
So, is iLending legit? Yes. It is an established company with a long track record, real customer support, and a lender network that can help borrowers with fair credit find a better rate. For many drivers, the average savings can outweigh the processing fee.
Just do the math on that fee before you sign, and compare at least one other offer from the best auto refinance companies so you know you are getting the best deal. If iLending's hands-on approach appeals to you, iLending can start you with a soft-pull quote in minutes. Terms apply; APRs vary by creditworthiness.
Frequently Asked Questions
Is iLending legit?
Yes. iLending has operated for more than 15 years, holds strong customer ratings, and works with a real network of lenders. It is a legitimate auto refinance broker, not a scam, though like any broker it earns money when you close a loan.
What credit score do you need for iLending car refinancing?
You generally need a score of 560 or higher, though the exact requirement depends on the lender you match with. You also typically need at least six months of credit history and $1,500 or more in monthly income.
How much does iLending cost?
iLending charges an administrative and document processing fee of up to $549, which can usually be financed into the new loan. There is no cost to get a prequalified quote using the soft credit check.
How fast is iLending auto refinancing?
Decisions can arrive in as little as 24 hours after you submit your information. Completing the full refinance, including title and payoff paperwork, usually takes longer and depends on your current lender and state.
