Does Tresl offer loans for new and used vehicles?

Auto loans for new and used personal vehicles aren’t currently available. Still, you can use Tresl to find a loan to purchase your leased vehicle.

Is there a hard credit pull when applying to refinance?

No, there is no hard credit pull in order to apply for loan prequalification, which can help you lock in available rates.

When is a lease buyout a good idea?

The main question to consider is if the vehicle is truly worth buying. Take time to understand the residual value, if the car carries more value than the buyout amount, then a lease buyout is wise.

reviews

Tresl auto loans: 2024 review

Written by

Allison Martin

Edited by

Pippin Wilbers

Updated on January 1, 2024

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

Find my best rate

with Bankrate

Not all displayed lenders are available for pre-qualification through Bankrate, and we cannot guarantee any specific rate. We'll provide you with the best offers available from our partners.

3.3

Bankrate Score

Availability

3.0

Affordability

3.0

Customer Experience

3.2

Transparency

4.0

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Full methodology

Bankrate’s take

An auto loan marketplace, Tresl serves borrowers refinancing their current loan, buying out a lease or purchasing a company car. The lender matches all borrowers with a financial advisor that can assist throughout the process. Tresl also stands out for its auto loan prequalification that only requires a soft credit pull.

Lender Details

Loan amount

$8,000-$150,000

APR from

Starting at 4.99%

Funds available in

Not Specified

Best for comparing rates

Tresl is an auto loan marketplace with a network of lenders ranging from credit unions to fully online funding options. You can compare a number of lenders side by side before deciding which loan is best for you. For hesitant borrowers, Tresl offers specific suggestions and support based on your needs. Following prequalification, you will be matched with an advisor to guide you through the process.

Types of auto loans offered

Consider using Tresl to explore loan offers for auto refinancing, car lease purchases and company car purchases.

Auto loan refinancing

Amounts: $8,000-$150,000
Terms: 12-96 months
APR: Starting at 4.99%

You can refinance your current loan with a lender in the Tresl network to try and get a better interest rate or more affordable car payment. According to Tresl, the average interest rate reduction is 3.5 percent, and borrowers save around $1,182 annually. However, because Tresl doesn’t share its minimum or maximum rates on its website, it’s hard to know whether they could actually offer you a better rate without applying.

Lease buyout loans

Amounts: $8,000-$150,000
Terms: 12-96 months
APR: Starting at 4.99%

Tresl can simplify the process of buying your leased car. You will have dedicated assistance from Tresl finance advisors. Plus, the entire process is handled online, and you won’t have to mail in paperwork or pay steep dealer fees. Most applicants receive final approval within 24 hours, assuming the requested documents are uploaded promptly.

Company car purchases

Amounts: $8,000-$150,000
Terms: 12-96 months
APR: Starting at 4.99%

For those looking to purchase a company vehicle, Tresl’s partners offer loans with a variety of terms and rates. Most applicants are prequalified in seconds and fully approved in just 24 hours.

Where Tresl auto loans stand out

Prequalify with a soft credit check. There is no impact to determine if you prequalify for financing with a lender in the Tresl network.
Simple online application. The entire application process is handled online. You can upload your documents electronically to avoid the hassle of making copies and sending them by post.
Customer support. Tresl matches its borrowers with a dedicated financial advisor that can walk you through the lending process.

Where Tresl auto loans fall short

Limited information available. Rates, terms, eligibility requirements and most other information is not available until after you apply to prequalify.
Lender fees. You could be subject to a loan origination fee, depending on the lender.
Limited loan products. Tresl only allows borrowers to refinance, buy out their lease or finance a company car purchase.

How to contact Tresl

You can get in touch with a customer service team member by phone or send an online inquiry via the website. Finance advisors are available Monday through Friday from 8 a.m. to 7:30 p.m., and Saturday from 9 a.m. to 5 p.m. CT.

How this lender compares

Tresl versus Ally

For those looking for a lease buyout or refinancing loan, Ally is another strong option. Similar to Tresl, Ally offers an easy-to-navigate online experience where financing can be handled online. On top of this, both lenders allow access to potential rates without a hard credit pull. Ally stands out for its ability to add co-applicants, ideal for those with poor credit. But unlike Tresl, Ally doesn't present additional loan offers to ease your comparison process.

Tresl versus Auto Approve

If you want to know more about your options before applying, Auto Approve might be a better option. The lender similarly works with a large network of lending institutions but discloses more specifics such as loan amounts and average APR. Like Tresl, Auto Approve offers bundling options such as gap (guaranteed asset protection) coverage and dedicated online customer support.

Do you qualify for a Tresl auto loan?

Tresl works with a wide network of lenders, including credit unions, banks and online lenders. Due to this structure, the loan marketplace does not disclose a minimum credit score. However, the range of funding sources increases your potential for finding a fit.

How to apply for a loan with Tresl

The process of applying for a loan with Tresl is fairly straightforward and should only take five minutes, according to the company's site.

Prequalify. Input some basic contact and vehicle information into an online form to determine if there is a lender that might approve you for financing.
Look at offers. Compare any offers you prequalify for, select one that works for you and make any allowable adjustments to the offer to ensure it meets your financial needs.
Finalize loan. Complete a formal application with help from a Tresl finance advisor to get final approval and secure the loan.

Required application information:

Your requested loan amount.
Contact information.
The car’s year, make, model and estimated value.

Features and additional perks

When signing off on a loan with Tresl borrowers will have the option to bundle service protection products. You can add a vehicle service contract that handles unexpected breakdowns, and road hazard protection which covers damages that insurance might not. Finally, Tresl offers the option to bundle gap coverage, which handles the payment difference between the amount you owe and the amount insurance covers if your car is totaled.

Fees and penalties

Tresl does not state whether it charges fees. Some lenders present in the network will charge finance and processing fees.

Tresl FAQs

Auto loans for new and used personal vehicles aren’t currently available. Still, you can use Tresl to find a loan to purchase your leased vehicle.
No, there is no hard credit pull in order to apply for loan prequalification, which can help you lock in available rates.
The main question to consider is if the vehicle is truly worth buying. Take time to understand the residual value, if the car carries more value than the buyout amount, then a lease buyout is wise.

How Bankrate rates Tresl

Overall score	3.3
Repayment options	3	With little information to go on, Tresl gets mid marks for this category.
Affordability	3	Tresl doesn’t provide APR, specific acceptance criteria or fees before you apply.
Customer experience	3.2	Unspecifed funding and online access details drop an otherwise high category.
Transparency	4	Prequalification is available, but fees and rates are notably absent from Tresl's website.

Methodology

The Bankrate team assessed more than 35 auto lenders to find the best. To rate lenders specializing in auto refinance loans, Bankrate considers 16 different criteria, including the loan amount, disclosed APR and acceptance criteria. Each lender receives a Bankrate score based on four categories.

Availability: This accounts for loan amounts, vehicle restrictions and availability in each state. Lenders that serve customers nationwide with flexible loan amounts rank higher.
Affordability: Primarily, this section covers expected APR, acceptance criteria, discounts for autopay and the number of fees. Lenders with the lowest rates, fewer fees and most generous acceptance criteria receive higher scores.
Customer experience: Our team looked at how easy it is for customers to apply for and manage their loans. Criteria include online access, support availability, funding timeline, option for automatic payment and app availability.
Transparency: This includes prequalification and disclosure of rates and fees. We favored lenders that make it easy for customers to preview possible costs.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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