Tresl
Is This Your Business?Author: Kaitlyn Short
As a marketplace lender, Tresl offers auto loan refinancing services to consumers of all credit levels, including those with low or bad credit, by connecting them with credit union lenders in its network. Consumers can easily check their rates and terms by completing a pre-qualification application and then choose the best lending option for them.
With a quick and easy application process, through which each borrower is matched with a Tresl Finance Advisor, consumers can save an average of $89 on their auto loan payments.
Continue reading for a full review of this auto refinance company.
Top Ranked Companies
The Good
- Low Credit Score Requirement
- Pre-qualify with no Impact to Your Credit
- Quick and Easy Application Process
- Available in all 50 States
- Cosigners Accepted
- Customer Service
- Lease Buyout Option
Low Credit Score Requirement
Although Tresl does not disclose an exact minimum credit score on its website, it is likely that the accepted minimum is 500. This is lower than many of its competitors, and provides subprime borrowers with an opportunity to refinance their vehicle.
It is important to note that if you want to qualify for Tresl's lowest rates, you will need to have a good to excellent credit score.
Pre-qualify with no Impact to Your Credit
You can check your rates with Tresl by completing a quick and easy pre-qualification application that will have no impact on your credit score. If you choose one of the lenders populated for you based on your information, it is likely that a hard credit pull will be performed to complete your loan application.
Quick and Easy Application Process
After pre-qualifying, the application process is quick and easy. Once you've selected the best refinance offer for your needs from Tresl's lender network, you will consult with your Tresl Finance Advisor, who will walk you through the rest of the loan process and connect you with the best rates and terms.
Before completing the process and refinancing your old loan you will need to sign specific documents through Tresl's proprietary platform.
Available in all 50 States
Tresl's auto refinance services are available in all 50 U.S. states. This is not the case with all auto refinance lenders.
Cosigners Accepted
If you are applying to Tresl with low or bad credit, you can apply with a cosigner, which can boost your chances of approval and get you a lower interest rate and better loan terms.
Customer Service
Tresl offers what it calls its "end-to-end process," meaning that throughout the loan application and monthly payment process, you will have the support of Tresl's financial technology and its team of expert advisors. Included in the process of applying for any auto finance or refinance process, consumers will speak with a Tresl financial advisor who will ensure that the consumer's needs are being met, and that any questions are answered. These advisors will be available at any point to speak with you about your auto loan.
Lease Buyout Option
In addition to auto loan refinance, Tresl also offers lease buyouts and company car purchase services. You can pre-qualify for both services with no impact to your credit score, allowing you to see the rates and terms available to you.
The Bad
- Undisclosed Rates
- Vehicle Restrictions
Undisclosed Rates
Because Tresl is a marketplace lender, loan rates and terms will vary depending on the lenders made available to you. However, if you want the lowest rates available in order to save more on your existing car loan, you will want to ensure that you have an excellent credit score, or that you apply with a creditworthy cosigner.
Vehicle Restrictions
To be approved for auto refinancing with Tresl, your vehicle must meet certain requirements:
- Vehicle cannot be more than 10 years old
- Vehicle cannot have more than 150,000 miles
- You must have been the vehicle owner for at least 6 months
- Additional requirements and restrictions vary by lender
The Bottom Line
Tresl is one of the leading auto refinancing companies in the industry, helping consumers lower their auto loan payments, and assisting them to get out of debt sooner.
Borrowers with low or bad credit have a good chance of approval, as Tresl’s minimum credit score requirement is approximately 500. By matching consumers with various lenders in its network, Tresl allows consumers to find the best refinancing option for them, as well as the most competitive rates and terms based on their financial background.
There are currently no Tresl reviews. If you have refinanced your vehicle through this company, please tell us about your experience by leaving a review.
View Best Auto Refinance Companies
There are currently no Tresl car refinance reviews. If you have refinanced your vehicle through this company, please tell us about your experience by leaving a review.
