Overview
iLending
19 Years
RefiJet
9 Years
Ratings
iLending
RefiJet
Reviews
iLending
Reviews
RefiJet
Reviews for iLending
Helpful Favorable Review
Jackson
March 7th, 2024
DETAILS
Review Source
ilending it's faster and it's rates are low compared to other companies. Am happy with the team who worked on my vehicle to refinance. Because the process was faster and even I was handled in friendly way so thank you.
Helpful Critical Review
Joseph Zajac
December 30th, 2021
Hazleton, PA
Review Source
I have some credit cards with debt and decided to try to get a personal loan that would combine that debt and make it easier to pay at a lower interest. I went with lending direct and was disappointed in the results and then bombarded like crazy with a bunch of emails and continual contacts. I didn't end up getting a personal loan and consolidating the debt in a better rate, but it was with a different company. I would recommend you shop around for various lenders and rates.
Reviews for RefiJet
Helpful Favorable Review
Tim McCoy
June 9th, 2020
Waynesboro, GA
My financial services rep, Alexandra E, was the best! She was quick to respond, had the right information available to answer my questions and made it easy to refinance my 2016 Honda. I will send all of my friends to her and RefiJet!
Helpful Critical Review
Randy Abernathy
July 23rd, 2020
,
Key to a transaction company is doing what you say you will. These guys got my refi done quickly and it wasn't too big a chore, but I had specifically noted that the title needed to be transferred from a California title to a Tennessee tile so I could license the bike. Despite assurances that I had completed all of the paperwork and the issue had been addressed, nothing was done. So I can pay for my bike, but I can't ride it.
The Final Word
Both iLending and RefiJet offer very similar products and services, and advertise similar amounts of monthly savings. But, if you have a high mileage vehicle and want lower rates, iLending may be the best auto refinance company choice for you.
Time in Business
If industry experience is an important factor for you when comparing companies, iLending would be your best choice when considering time in business. iLending has been in business for 15 years, while RefiJet has only been in business for 5 years.
While this isn’t necessarily a deal breaker, iLending is a well-established company in the auto refinance industry that has been serving consumers for a much longer time than most other auto refinance companies.
Starting Rates
Most auto refinance lenders have lower-than-average starting rates, since the point of refinancing is getting more favorable rates and terms on your auto loan. However, iLending’s starting rate is significantly low in comparison to other companies in the industry, and in this case, in comparison to RefiJet.
- iLending starting rate — 1.99%
- RefiJet starting rate — 2.49%
If you have an excellent credit score (700+) you have a much better chance of getting the lowest rate with any lender you choose, but if you have less-than-perfect credit you will likely receive higher interest rates and will not be eligible for the lowest offered interest rate.
Minimum Credit Score Requirement
iLending has a minimum credit score requirement of 560, while RefiJet has a minimum requirement of 580.
While both of those minimum credit scores are low, if you have bad credit or an unestablished credit history, you may be more likely to qualify for auto refinancing with iLending. But, in most cases, if you have poor credit, you will likely get a higher interest rate than borrowers with good to excellent credit (700+).
Vehicle Eligibility Requirements
Most auto refinance companies have specific and somewhat strict vehicle eligibility requirements for refinancing. In most cases your vehicle can be no older than 10 years, and your vehicle can’t exceed a certain mileage threshold.
While RefiJet doesn’t outline a mileage requirement, iLending will refinance vehicles with up to 150,000 miles, which is much higher than many other auto refinance companies. Thus, if you have a vehicle with high mileage, iLending could be the best choice for you.
Delay First Payment
One service that RefiJet offers, which iLending does not, is the option to delay your first payment on your refinanced auto loan. The delay period is typically between 30 and 45 days, after which payments must be paid regularly and on time.
