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Tresl Reviews

8.2

bestfor-icon Over 200 auto-loan lending parters

angelawatson
Written by Angela Mae

About Tresl | Read More

8

LS Score

8

Credibility

8

Support

8.5

Accessibility

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Opening Hours Opening Hours drop-down-btn
Mon-Fri 8am-7:30pm CST
Sat 9am-5pm CST
Sun Closed
Contact Information Contact Information drop-down-btn
  • info@mytresl.com
  • (866) 504-3748
  • Headquarters: 1706 E. New Hope Dr. Suite A Leander, TX 78641
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Tresl Auto Loans Review

Tresl works with over 200 financial institutions to offer auto refinancing loans. They also provide a lease buyout product for those who are currently leasing a vehicle and want to purchase it.

Tresl Auto Loans Highlight

550

Min Credit Score

4.67-23.8%

APR. Fixed Rate

$5K-$100K

Loan Amount

36-84

Repayment terms

Yes

Soft Credit Pull

Marketplace

Lender Type

Yes

Other Fees

None

Origination Fee

None

Prepayment Fee

24 hours

Funding Time

11 Years

Max Vehicle Age

Pros & Cons

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  • con-icon Auto refinancing, lease buyouts, company car purchases, and car protection products available
  • con-icon Easy prequalification option that lets you compare multiple lenders without hurting your credit score
  • con-icon Hands-on process with a finance professional walking you through every step
  • con-icon Limited loan options
  • con-icon No direct auto loan financing available
  • con-icon Interest rates, loan terms, and requirements not listed on the website (requires an application)

Auto Loan Types

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  • Unsecured Auto Loans
  • New Car Loan
  • Used Car Loan
  • Lease Buyouts

Vehicle Types

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  • Car
  • Car loans refinance
View rates

Tresl Auto Loans Terms & Requirements

Tresl doesn’t list its loan terms online, so you’ll need to complete the prequalification application to get an idea of what’s available. Although the details aren’t disclosed, Tresl says their customers save an average of $102 a month on car payments after refinancing. They also receive an average interest rate reduction of 5.57% through refinancing. Customers who get a lease buyout are typically approved in about 24 hours.

As for eligibility, most lenders in the network require borrowers to meet certain criteria. To qualify, you’ll typically need to make $24,000 annually. Your vehicle must also have 150,000 maximum mileage and be a 2012 model (or newer).

 

Lease Buyout Options

TRESL offers auto loan refinancing, cash-out refinancing, and lease buyouts through its partnerships with more than 20 lenders.

The lease buyout options include the following:

  • Lease-to-own: This option allows you to purchase your leased car at the end of your lease term. You will potentially be responsible for paying the remaining balance on your lease and any additional fees, such as early termination or lease termination fees.
  • Lease-to-buy: This option usually allows you to purchase your leased car at a predetermined price before the end of your lease term. This could be a good option if you are sure that you want to keep the car after your lease ends.

How to Apply

You can prequalify and apply for financing in a couple of simple steps:

  1. Fill out the online form. Input some basic information about your vehicle and yourself. Personal information includes things like your full name, contact information, address (and whether you rent or own), annual income, and SSN. Vehicle information includes the year, make, model, estimated mileage, and how much you still owe.
  2. See your prequalified offers. After submitting the online form, you’ll see a list of lenders with options based on your information and goals. This does not affect your credit score.
  3. Select an offer and apply. If an offer looks good to you, choose it and proceed to apply. The individual lender may require you to upload additional documents. They may also perform a hard inquiry, which will affect your credit score.
  4. Wait for funds to arrive. With a lease buyout or auto refinance loan, you could receive approval within 24 hours. The time to funding varies.

Qualification Requirements

  • At least 18 years old
  • $24,000 annual income
  • Co-signer not required but could help those with poor credit or limited income to qualify
  • USA citizen or permanent resident
  • Maximum vehicle year – not prior to 2012
  • Job status: employed, self-employed, military, other source of income
  • Other requirements vary by lender

Required Information

It’s possible to prequalify entirely online using the Tresl website. After prequalifying, customers speak with a finance advisor about their options and the steps needed to complete the financing process. Prequalifying doesn’t require specific documents, but lenders may ask for things like:

  • Proof of identity (ex. driver’s license or Social Security Number)
  • Vehicle or lease information
  • Bank account
  • Loan purpose and amount
  • Employment or income verification

Application Steps & Time Frames

  • Click “Apply Now” and input some basic personal and vehicle information.
  • Review your prequalified offers in minutes.
  • Apply for financing and get approved within 24 hours.
  • The time to funding depends on lender.

State Availability

- Available in all states

angelawatson
Written by Angela Mae

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.

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FAQ’s

What types of financing does Tresl offer?

Tresl offers auto loan refinancing, lease purchasing, and company vehicle financing. They also provide a few car protection products, such as GAP insurance.

Is Tresl a direct or indirect lender?

Tresl is an indirect lender, or a marketplace. They work with more than 200 lending partners to offer customized lending solutions for customers.

Does prequalifying with Tresl affect credit score?

No, the prequalification process is simple and does not require a hard credit check. It allows potential customers to check their rates and terms with different lenders in Tresl’s network. It does not guarantee approval, though.

Customer Support

For the most part, Tresl’s customer service team is very hands-on and supportive. Tresl’s finance advisors work closely with customers throughout the process — from the initial application to securing funding.

Customers who need to contact Tresl may do so via phone, online chat, or contact form. Tresl operates six days a week (excluding Sunday and major holidays) and someone from the team is available to chat throughout most of the day.

Written correspondence is typically fairly efficient, but it can take a couple of business day to receive a response. If you need support quickly, the best option is to call the team during business hours.

Online, Tresl has fairly positive reviews. For example, Tresl has 4.19 out of 5 stars with 157 customer reviews on the Better Business Bureau website.

Privacy & Security

Like other online marketplaces, Tresl may collect certain customer data, but it also safeguards that information with a secure website. Most of this information comes from filling out an application (or hitting “Apply Now”), prequalifying, applying for a job with Tresl, or using the online chat system. Tresl also automatically collects personally identifiable information when someone goes through their website via computer or mobile device.

Tresl strives to protect consumer data, so they mainly use the data to help improve their services, communicate with potential customers, and provide relevant advertising. This is standard when working with an online marketplace or direct lender.

As a marketplace of over 200 partner financial institutions, Tresl does not control or monitor how your personal data is used once you leave their site.

In Conclusion

Through its large network of partners, Tresl offers several financing options, all of which are for vehicles. These include refinancing, leasing purchasing, company vehicle purchasing, and various car protection products. On Tresl’s main website, there are also free financial resources for those who want to learn more about auto finance.

There are two main drawbacks to Tresl. They’re not a direct lender, meaning you won’t see your exact rates and terms until completing an application or prequalification form. They also have limited loan options, so they won’t be able to meet everyone’s financing needs.

Even so, Tresl’s team of financial advisors, intuitive process, and customized solutions could make them a good option for those seeking auto refinancing.

Brand Disclaimer

LICENSING: THE SAVINGS GROUP, INC. AND ITS OPERATING SUBSIDIARIES, INCLUDING BUT NOT LIMITED TO RATEGENIUS LOAN SERVICES, INC. D/B/A RATEGENIUS, INNOVATIVE FUNDING SERVICES CORPORATION D/B/A TRESL, AND AUTOPAY DIRECT, INC. D/B/A AUTOPAY (COLLECTIVELY “TSG”), IS HEADQUARTERED IN AUSTIN, TEXAS AND DENVER, COLORADO. TSG OPERATES PURSUANT TO LICENSES IN JURISDICTIONS WHERE ITS ACTIVITIES REQUIRE LICENSING. ALL LENDERS IN THE TSG NETWORK ARE FDIC-INSURED BANKS, CREDIT UNIONS OR LICENSED LENDERS.

Patriotic Act Notice:
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
As a result of the 9/11 terrorist attacks, Congress enacted the USA PATRIOT Act. This Act, which is designed, in part, to fight the funding of terrorism and money laundering activities, includes a provision requiring all financial institutions to obtain, verify, and record information that identifies each person who opens an account.