What you need to know about Innovative Funding Services’ auto loan process. 


How long does the auto loan application process take?

  • Please allow up to 48 business hours for one of our Finance Advisors to respond to your online application.
  • After a Finance Advisor has reviewed your completed application, qualifications and approvals can take up to 24 hours.
  • The average processing time, from application to close, is 9-14 business days, if all documents are executed correctly the first time by all parties.

I applied online, but I haven’t heard anything yet. Why?

We receive a large number of inquiries and applications each day. After applying, each applicant is assigned a Finance Advisor. Please allow at least 48 business hours for a Finance Advisor to contact you. Watch your email and voicemail for a direct response.

If you have not received a response from one of our Finance Advisors within 48 business hours, it is also possible your application may have been rejected and closed automatically. A credit score below lender guidelines is the primary reason for automatic rejections. Federal law requires us to respond to these rejections within 28 days after the application is denied. We understand this delay can be frustrating and apologize for the inconvenience.

What are the qualifications for an auto loan refinance?

  • Have made four or more vehicle payments
  • Employed or have verified sources of income
  • Must be able to verify all necessary income to qualify
  • Minimum income of $1,900 gross monthly
  • 2008 or newer auto
  • 120,000 miles or less
  • No repossessions
  • No open bankruptcies
  • Not past due on current auto loan or mortgage loan

What if I can’t prove my income (self employed)?

Many times, if your credit score and other factors are good enough, you do not need to prove income. As always, the better off you are credit-wise, the fewer hoops you will jump through.

Why can’t you quote me quick auto loan rates and terms over the phone without applying?

Rates and terms are subject to many factors:

  • Credit score
  • Debt
  • Debt to income ratios
  • Collateral
  • Payment History
  • Mileage
  • Year of vehicle
  • Equity position

These are most, but not all of the criteria. To give you a proper set of terms, we need a full and accurate understanding of your financial situation. Quoting a rate without an application can do more harm than good.

The income field on the online loan application won’t submit because it is below $1,900 gross monthly.

Unfortunately, we currently cannot help you. We encourage you to check back regularly, as our lenders change.

The online auto loan application won’t accept retirement or additional income?

Add it to the gross monthly income.


I have questions about loan qualification.

I have questions about my credit.

I have questions about my vehicle.

I have questions about my current loan.

I can’t find answers to my questions anywhere!

This resource is always under development. Please contact us if you still need more information.

Learn More in the Car Finance Library

Your Guide Through the Auto Loan Process

The auto loan process does not have to be overwhelming. Let IFS guide you through it, saving you time, money and stress. 

Access multiple lenders with one online application
Personal Finance Advisor to guide you
Competitive auto loan rates from respected lenders
Options for low to mid-range credit scores
Important document completion including titling
History of helping people like you save money
The Auto Loan Process Starts With Applying Online

Are you ready to begin the auto loan process? The first step is to apply online. 

What Our Customers Are Saying

"I wish to compliment IFS on its professionalism, services offered, patience, responsiveness, technological saviness, expeditious manner in which the transaction was completed. I would also like to compliment, in particular, Harry C. for being super at his job. I've never re-financed a vehicle in the past and didn't know much about how to do it or the process. Harry was assigned my refinance and I couldn't have been happier and pleased. Thank you Harry!"
-M.M. on 7/5/2016, Better Business Bureau

"I used IFS to exercise a purchase option on a leased vehicle and Charles Cook at IFS was very help. They pulled a very good rate for me and drew up all the paperwork with very little effort on my end. Process was smooth and handled all the details with the old title owner (car manufacturer) and financier. Entire process was surprisingly straightforward and painless."
-Brad of Austin, TX on 8/24/14, LendingTree

"Can't say enough great things about my experience with Innovative Funding! From the time Tina called me and we discussed what I was looking for, she had me approved within a couple hours with the exact loan I was looking for, and a couple options to choose from. The entire process was fast, efficient, professional, and very easy. We did everything online and by phone, I never expected refinancing my car to be so painless and so fast! Would definitely recommend them to anyone looking for a great quality experience in financing."
-Terri J. on Credit Karma