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Varies by lender
APR
Product Name | Tresl auto loans |
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APR | Varies by lender |
Interest Rate Type | Variable |
Requirements | 500+ credit score or higher, employed with $1,500 of verifiable gross monthly income |
Review by
Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.
Tresl is a car loan connection service that works with a network of lenders. What really sets Tresl apart is how closely they work with customers on the titling process. Rather than leaving it to the loan provider or a middleman, Tresl facilitates all title work.
It also offers gap insurance, service protection plans and tire and wheel protection in addition to refinancing, lease buyouts and company car purchases. Personal finance advisers are available to help walk you through the process and find the loan that’s best for you. But you won’t know what rates are available to you until you prequalify.
Car loan connection service Innovative Funding Services (IFS) changed its name to Tresl in May 2020. But that’s about all that’s changed. The ownership, products and its partners have stayed the same. And you can expect the same quality of service that IFS was known for.
Tresl doesn’t disclose the loan amounts, rates and terms its partners offer — it can vary widely. But generally, car loan rates can range from 2% APR to 36% APR.
How much you can borrow depends on your loan balance or what you have left on the lease, or the price of the vehicle. And terms typically range from three to seven years. Use the calculator below to see how much a new car loan might cost you.
If you’re refinancing also have to factor in title transfer fees, re-registration fees and any prepayment penalties your current lender charges. These vary depending on your state and lender.
To qualify for refinancing with Tresl, you must meet the following criteria:
While possible to find funding with a credit score of 500, you have a better shot at approval if your score is 550 or higher. Its partners also require borrowers to be employed, so you won’t qualify if you rely on unemployment benefits.
Three types of loans are offered by Tresl:
It isn’t upfront about potential terms, rates and loan amounts you might qualify for, however. You’ll need to call or fill out the prequalification form to know exactly what you’re getting into with one of Tresl’s partner lenders.
BBB accredited | Yes |
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BBB rating | A+ |
BBB customer reviews | 4.7 out of 5 stars, based on 198 customer reviews |
BBB customer complaints | 16 customer complaints |
Trustpilot Score | 4.5 out of 5 stars, based on 1,401 customer reviews |
Customer reviews verified as of | 16 October 2020 |
The majority of online customer reviews for Tresl are positive across its Better Business Bureau and Trustpilot profiles. Customers praise both how easy it is to get a loan and its customer service.
It can take up to 48 business hours for Tresl to get back to you with any potential offers you qualify for. The average processing time — from prequalification to close — is nine to 14 business days.
To fill out the prequalification form with Tresl, you’ll need a few documents on hand:
Once you’re approved and accept the terms of the loan, you’ll be working with the lender you’re matched with, not Tresl.
Fees and payment structures are determined by the lender and are outlined in the terms before you accept them. Talk with your provider to see if you can set up autopay, if they have an online account service and how you can avoid any potential fees.
Tresl offers a matching service for specialized auto financing options. The nature of loan matching doesn’t allow for easily-defined specifics, if any. Before you apply with Tresl, it may be worth your time to compare your car loan options and look into lenders that provide a little more information upfront.
Image source: ifsautoloans.com