iLending

Terrible

Thank God I got a lower rate for my car loan and monthly payment, but my overall customer service experience with them was horrible. They couldn’t give me the right information, communication was terrible. I sent in the same form 3 times because they gave me the wrong information. The time frame in which the process took was entirely too long and I had to make another unnecessary payment to my last lender in the interim. In their defense the loan officer was polite but the whole experience was a pain and I was quite frustrated for about a month and so stressed I almost went to another company. In the end, thank God I finally got a lower monthly car payment, because I can’t thank Ilending. After all, it’s the new loan who gave me the lower rate.

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Not what I expected.

I was told I needed $2600 down payment on my refinance of my $30,500 Auto loan. I didn't even need a down payment when I bought the truck 6 months earlier. But i figured at least the $2600 would lower mt loan to $25,900. Nope the $2600 went to fees and i still ended up refinancing MORE then i originally owed. The loan was $31,600. Very disappointing then they wouldn't tell me the name of the bank who did the refinance until after the deal was done. It ended up being Hughes Federal credit union and after looking at the reviews they are a 2 star customers have horrible complaints about this bank.

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I got what I needed, but the experience was frustrating and misleading. Never again.

The good news, is that I received a phone call from Jim as literally as soon as I completed my initial inquiry online. Within about a day, Jim M. gave me a great quote for my new monthly payment, and my new interest rate-which I am very happy with. What happened next is where it all went wrong: First, after reviewing the forms that needed to be submitted in detail, I sent them off to him-only to find out that he forgot to tell me about one section that needed to be completed. The second time was the trick-but a huge waste of time. He also failed to disclose that 1) there would be a processing fee tacked on to the loan balance, and 2) the credit union where the loan was obtained from requires a bank (savings) account to be opened in my name so that I can first transfer funds to the credit union, and then make payments to my loan from that savings account. When I voiced my concern to him after I learned these details, and after I expressed frustration about the fact that he did NOT review these details with me, all he said in reply was "I'm sorry that you feel that way." A passive-aggressive reply is NOT the way to reply to a person that you withheld information from. Even though he did review the paper applications with me (granted, it was done 2 times because of his error the first time around), so one would think that as he's reviewing that paperwork that he should have given me ACCURATE EXPECTATIONS, and DISCLOSE ALL OF THE DETAILS ABOUT THE PROCESS, such as-"Hey! Just so you know, this arrangement requires that you open a bank account at the credit union. You will need to transfer money to that bank account so that you can make your loan payments, is that OK?" and "The new loan value will be $xxx*.xx, which includes a $x**.xx document fee for our services." I shouldn't have to feel like I need to micro-manage the representative who was hired to serve ME so that I can find out all of the information that I need to know. Like I said at the beginning, I'm happy with the rate and new monthly payment amount. Because of my experience, I will NEVER use iLending DIRECT again should I ever need to refinance an auto loan. Despicable.

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