Tresl Auto Loans: 2021 Review

Tresl offers auto loan refinancing, lease buyouts and company vehicle purchases. Bad-credit borrowers may qualify.
Philip ReedJun 23, 2020

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Our Take

The bottom line: Best for bad or fair-credit applicants looking for hands-on help with vehicle transfer paperwork.

Tresl
Learn More

on Tresl's website

Min. Credit Score

580

Est. APR

1.99 - 17.99%

Loan Amount

$5,000 - $100,000

Pros & Cons

Pros

  • Low minimum credit score requirement.
  • Prequalify with a soft credit check.
  • Available in all 50 states.

Cons

  • Offers loan terms over 60 months.
  • Vehicle restrictions.

Compare to Other Lenders

Tresl
OpenRoad
LendingClub
Learn MoreLearn MoreLearn More
Min. Credit Score

580

Min. Credit Score

500

Min. Credit Score

640

Est. APR

1.99 - 17.99%

Est. APR

N/A

Est. APR

N/A

Loan Amount

$5,000 - $100,000

Loan Amount

$7,500 - $100,000

Loan Amount

$5,000 - $55,000

Full Review

To review Tresl, NerdWallet collected and compared more than 15 data points with other lenders that seek the same customer or offer a similar product.

Tresl, formerly known as Innovative Funding Services, works with a network of lender partners to provide auto loans for refinancing, lease buyouts and company vehicle purchases. It even refinances higher-end brands of motorcycles. However, the company does not offer dealer purchase loans.

Tresl may be a good fit for those who:

Tresl specializes in helping people secure loans for car refinancing, lease buyouts or purchasing a company vehicle. The company also provides expert vehicle registry services and help completing the necessary paperwork for transferring ownership, often saving borrowers a trip to the department of motor vehicles.

Tresl does not require a on prequalification, so you can get an interest rate quote without an impact to your credit score. Some of the lenders it works with, though, may perform a hard credit check.

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Tresl’s lowest rates are available only to borrowers with strong credit. Lenders set their own requirements, but excellent credit is generally considered 720 or better, while 690 to 719 is good.

Keep in mind that with fair or bad credit you won’t get the lowest interest rates, which means your monthly payment and total interest paid will be more.

You can check your to get an idea of the rate you might qualify for before applying for a car loan, and consider shopping around if you have bad credit to save money.

Loan example: For a subprime borrower (FICO score between 501 to 600), a $10,000 car loan with a repayment term of 36 months and an interest rate of 12% would carry monthly payments of $332, according to NerdWallet’s .

Tresl offers additional products that can be rolled into its loans, such as , tire and wheel protection, and service protection plans. The company will also refinance higher-end bikes such as Harley-Davidsons and Honda Cruisers.

The Tresl website has numerous educational resources, including a blog and answers to frequently asked questions. It also has articles on refinancing, leasing and purchasing company cars, for prospective borrowers wanting to better understand these transactions. Its customer service representatives can communicate with borrowers through traditional phone and email channels, and through website messaging.

Frequently asked questions