What is Tresl?
Tresl’s mission is to help car owners save money on their car loans. It has built relationships with various lenders, so those looking to refinance their car loan or buy out their lease can prequalify for several loan options. Tresl was founded in 2007 and, since that time, has helped more than 48,000 people refinance their car loans.
What is Auto Refinancing?
Auto refinancing loans work much like refinancing your home mortgage. You find an auto loan with more favorable terms than your current auto loan and apply for it. If approved, you use the new loan to pay off what you owe on your original loan. Then, you start making your car payments to your new lender, often at a lower interest rate. Tresl customers save an average of $1,150 a year because of lower monthly car payments.
What is a Car Lease Purchase?
If you’re leasing an automobile and would like to purchase it, that can be an expensive prospect. If you work with the dealer where you originally leased your car, they may charge several fees as part of the lease buyout process. Tresl can work directly with the financial institution that holds your lease to streamline the buyout process, saving you money on fees and a trip to the dealership.
How Can Tresl Help You Purchase a Company Car?
If you work for a company that has a fleet of vehicles, you may be able to purchase one of those cars at far below market value. This opportunity arises when your employer decides to remove or replace vehicles. If you have the opportunity to purchase a company car, Tresl can help you find a loan with good terms. It will even handle the transaction details like transferring the title and registering the vehicle.
How Does Tresl Auto Refinance Work?
Tresl has partnerships with a variety of lenders around the nation. When you use its platform to apply for an auto refinance loan, a lease buyout, or a company car purchase, it provides several options from its lender network. The refinancing process breaks down into four easy steps.
- Provide basic information about yourself and your contact details.
- Share details about your car, including your current balance, monthly payment, and where the loan originated.
- Within two minutes, you’ll receive a list of prequalified offers from Tresl’s lending partners. Review the terms of each and choose the loan that works best for you.
- A dedicated Finance Advisor from Tresl will work with you to submit your full application. They’ll be available to answer questions over the phone, through email, and via text.
Often, the whole process is completed within 24 hours.
What are the Benefits of Using Tresl?
Tresl gives its customers several key advantages.
- Fast and Easy Prequalification – It prequalifies you for several loan options using a soft credit pull. That means it won’t affect your credit rate. You can receive prequalified offers in as little as two minutes.
- Monthly Savings – Most customers lower their monthly payments. Refinancing your car loan through Tresl will save you $1,150 per year, on average.
- Lower Interest Rates – Because of its robust lending network, you are more likely to find a refinance loan with a lower rate.
- Flexible Terms – Review various loan options and choose the one that fits your budget and financial goals.
- Expert Guidance – You’ll work with a Finance Advisor who provides guidance and support throughout the application process.
- Free Education Resources – Tresl provides free information about car refinancing and lease buyouts on its website.
Are There Any Drawbacks to Using Tresl?
Tresl does have some restrictions on what cars it will refinance.
- Newer Makes – Its services are unavailable if your car is over ten years old.
- Loan Minimum – You must owe at least $8,000 on your vehicle to qualify for Tresl.
- Loan Fees – Depending on which lender you choose, you may have to pay loan origination fees as high as $495.
How Does Tresl Compare?
Unlike many online lending platforms, Tresl provides a hands-on personal experience. You’ll be assigned a Finance Advisor to answer questions and provide guidance.
Tresl also has partnerships with more than 20 lenders so that you can review several loan options. That increases the odds of finding a loan that fits your needs. Tresl also offers various supplementary services like vehicle service contracts to protect you from the high cost of mechanical repairs and GAP coverage to insulate you from making payments on your car loan should your car be totaled or stolen.
Why Use Tresl?
If you’re looking for a fast and simple way to find competitive auto refinance loan rates or lease buyout rates, Tresl can deliver. It has an extensive lending network and over 15 years of experience helping people find favorable refinancing loan options or good financing options for lease buyouts and company car purchases.
How to Get Started with Tresl
The first step in applying for an auto refinance loan is completing their online application on their website, in which you provide them with your personal information. They will also ask you for details regarding the vehicle you’re refinancing. After submitting the form, you will then be shown prequalified offers from their lenders. Once you’ve decided on the offer, a dedicated Finance Advisor will contact you to discuss your request and guide you to full approval.