Product Selection
How does iLending's auto loan refinance service work?
iLending (marketed as iLendingDIRECT, operated by Fleet Financial Inc., NMLS #1716867) is an auto loan refinance broker that shops a network of more than 50 lenders on a borrower's behalf. The company reports an average client savings of $148 per month, offers loan amounts from $5,000 to $150,000 over 12 to 96 month terms, and states a minimum credit score requirement of 560. The process runs through a short online application, a review of matched loan options, and a call with a loan consultant to finalize the refinance.
The full picture
iLending is structured as a refinance broker rather than a direct lender: instead of underwriting the loan itself, it shops an application against a stated network of more than 50 lenders and connects the borrower with the best match it finds, then a loan consultant handles the paperwork and lender communication. That structure is worth understanding upfront — the appeal is not having to shop 50 lenders yourself, but it also means the specific lender, rate, and terms you're ultimately offered come from whichever partner in the network approves you, not from iLending directly.
Loan terms, credit requirements, and the savings claim
iLending states a minimum credit score requirement of 560 — on the lower end for auto refinancing, which suggests its lender network includes options for subprime as well as prime borrowers — with loan amounts from $5,000 to $150,000 over terms of 12 to 96 months. The company's headline claim is an average client savings of $148 per month through refinancing, plus a skip-payment option of up to 90 days available to some borrowers after the refinance closes. As with any lender's or broker's advertised average, an individual borrower's actual savings depends on the gap between their current loan's rate/term and what they qualify for through the refinance — a borrower who already has a strong rate may see little to no savings, while one who financed at a high rate with weak credit and has since improved their credit profile may see more than the stated average.
The process
iLending's stated process runs in three steps: a brief online application, reviewing loan options the company has matched to the applicant's profile, and connecting with a loan consultant to finalize paperwork. The company is headquartered in Englewood, Colorado and operates under the legal name Fleet Financial Inc., doing business as iLending, registered with the Nationwide Multistate Licensing System under NMLS ID #1716867 — a number consumers can look up on the NMLS Consumer Access site to verify current licensing status in their state.
Sourced
- iLending (iLendingDIRECT) works with a network of more than 50 lenders to refinance auto loans. — iLendingDIRECT — product page
- iLending reports clients save an average of $148 per month through auto loan refinancing, and offers a skip-payment option of up to 90 days to some borrowers after refinancing. — iLendingDIRECT — product page
- iLending loan amounts range from $5,000 to $150,000 over terms of 12 to 96 months, with a minimum credit score requirement of 560. — iLendingDIRECT — product page
- iLending operates under the legal name Fleet Financial Inc., headquartered in Englewood, Colorado, registered under NMLS ID #1716867. — iLendingDIRECT — product page
- Consumers can verify a lender's current license status by NMLS ID through the Nationwide Multistate Licensing System's Consumer Access site. — NMLS Consumer Access
Key takeaways
- iLending is a refinance broker, not a direct lender — it shops its 50+-lender network on your behalf rather than underwriting the loan itself.
- The $148/month average savings claim is an average, not a guarantee; your actual savings depend on the gap between your current rate and what you qualify for.
- iLending's 560 minimum credit score is relatively accessible for auto refinancing, suggesting subprime options are included in its lender network.
- Verify iLending's (Fleet Financial Inc.) current license status in your state via NMLS Consumer Access (NMLS ID #1716867) before proceeding.
Frequently asked questions
Does iLending charge a fee to refinance my car loan?
iLending's own site does not disclose a specific broker fee in its general marketing content. Auto refinance costs typically come from the new loan's rate and any lender-specific fees rather than a separate broker charge, but you should confirm the complete fee structure directly with iLending and read your specific loan offer before signing.
What credit score do I need to refinance with iLending?
iLending states a minimum credit score requirement of 560, which is on the more accessible end for auto refinancing. Your specific rate and approval odds still depend on your full credit profile, income, and the vehicle's loan-to-value ratio, not credit score alone.
Related guides
Published 2026-08-18 · Updated 2026-08-18 · https://clearvaluelending.com/answers/ilending-reviews