Frequently Asked Questions

Tresl Auto Loan is a specialized lending service that provides personal loans specifically for vehicle repairs and upgrades. We help customers finance everything from major engine repairs to routine maintenance, body work, tire replacements, and performance upgrades with loan amounts ranging from $500 to $5,000. Unlike traditional auto loans that fund vehicle purchases, Tresl is designed specifically to keep your current vehicle running smoothly.

Most applications receive a decision within minutes of submission. Our streamlined online process uses advanced technology to evaluate your application quickly. Once approved, funds are typically available within 1-2 business days, allowing you to schedule repairs immediately. In some cases, same-day funding may be available depending on your bank's processing times.

We work with borrowers across a wide credit spectrum. While a minimum credit score of 580 is generally required, we consider multiple factors including income, employment history, and overall financial situation. Even if your credit isn't perfect, we encourage you to apply as each application is reviewed individually. Many borrowers with fair credit have been successfully approved.

No, checking your rate through our pre-qualification process uses a soft credit inquiry that does not impact your credit score. Only when you formally accept a loan offer will a hard inquiry be performed, which may have a minor temporary effect on your score. This allows you to see your potential rate and terms without any risk to your credit.

Tresl operates as a lending marketplace that connects borrowers with our network of trusted lending partners. When you apply, we work to match you with the lender offering the best terms for your situation. This approach often provides more options and competitive rates than going directly to a single lender. All of our lending partners are fully licensed and regulated.

While credit cards can be convenient, they often carry much higher interest rates (typically 20-29% APR) compared to Tresl loans (7.99-35.99% APR). Credit cards also have variable rates that can increase, while Tresl offers fixed rates that never change. Additionally, a Tresl loan has a set payoff date, helping you avoid the minimum payment trap that keeps credit card debt lingering for years.

Our APR rates range from 7.99% to 35.99% depending on your creditworthiness, income, loan amount, and term length. Borrowers with excellent credit (700+) typically qualify for rates between 7.99% and 15%, while those with fair credit (580-699) may see rates from 15% to 35.99%. Your personalized rate will be clearly displayed before you accept any loan offer, with no obligation.

Tresl offers loan amounts between $500 and $5,000, which covers most vehicle repair and upgrade needs. This range is specifically designed for repair costs including major engine or transmission work, collision repairs, brake system replacements, tire sets, and vehicle upgrades. The exact amount you qualify for depends on your creditworthiness, income, and debt-to-income ratio.

We offer flexible repayment terms ranging from 6 to 36 months. Shorter terms (6-12 months) mean higher monthly payments but significantly less total interest paid. Longer terms (24-36 months) provide lower monthly payments but more interest over time. You can choose the term that best fits your budget during the application process. Use our calculator to compare different term options.

We believe in transparent pricing with no surprises. There are no application fees, and we never charge prepayment penalties if you want to pay off your loan early. Your loan agreement will clearly outline all costs associated with your specific loan, including any origination fees. The APR we quote includes all fees, so what you see is what you pay.

Yes, absolutely! There are no prepayment penalties with Tresl Auto Loan. If you come into extra money and want to pay off your loan early, you can do so at any time and save on interest charges. We reward responsible borrowing and encourage early payoff when financially possible. Any extra payments go directly toward your principal balance.

Your APR is locked in once you accept your loan offer. Unlike credit cards with variable rates, Tresl loans have fixed interest rates that never change throughout the life of your loan. This means your monthly payment stays exactly the same from your first payment to your last, making budgeting simple and predictable.

You'll need a valid government-issued ID (driver's license, state ID, or passport), proof of income (pay stubs, bank statements, or tax returns), your Social Security Number for identity verification, current address and contact information, and bank account details for fund deposit. Having these documents ready before starting your application will speed up the process significantly.

Simply visit our Apply page and complete the secure online application form. The process takes about 3-5 minutes. You'll provide basic personal and financial information, and our system will evaluate your application in real-time. You'll receive a decision within minutes of submission. If approved, you can review and accept your loan terms, and funds will be deposited into your account.

If your application is not approved, we'll provide clear reasons for the decision. Common reasons include insufficient income, low credit score, or high debt-to-income ratio. You can work on improving these factors and reapply after 30 days. We recommend checking your credit report for errors, paying down existing debt, and considering adding a co-applicant with stronger credit if appropriate.

Currently, Tresl loans are individual loans and we do not offer co-applicant or co-signer options. Each application is evaluated based on the individual borrower's creditworthiness and income. If you don't qualify on your own, consider working on improving your credit score or reducing existing debt before reapplying.

The entire process can be completed in as little as 1-3 business days. Application and approval typically happen within minutes. Once you accept your loan offer and complete any required verification, funds are usually deposited into your bank account within 1-2 business days. The exact timing depends on your bank's processing speed and when you complete your application.

Tresl loans are specifically designed for vehicle repairs and upgrades including: major repairs (engine, transmission, suspension, exhaust, drivetrain), body and paint work (collision repair, paint jobs, dent removal, glass replacement), tires and brakes (new tires, brake pads, rotors, wheel alignment), maintenance services (battery, electrical, AC repair, fluids, tune-ups), and upgrades (sound systems, performance parts, lighting, accessories, protection coatings like PPF and ceramic).

No, Tresl specifically finances vehicle repairs and upgrades rather than vehicle purchases. Our loan amounts ($500-$5,000) are designed for repair costs, not vehicle acquisition. If you're looking to buy a new or used car, we recommend checking out traditional auto lenders or our alternatives page for purchase financing options. However, if you need to repair or upgrade your current vehicle, Tresl is the perfect solution.

Once approved, the loan funds are deposited directly into your bank account. You then use these funds to pay for your vehicle repairs at the shop of your choice. This gives you complete control over where and how your vehicle is serviced—you're not limited to specific repair facilities or dealerships. You can shop around for the best prices and service quality.

Yes, you can use your Tresl loan to cover multiple repairs or services at once. For example, you could finance engine work, new tires, and brake replacement all with a single loan. Simply total up your repair costs and apply for that amount (up to $5,000). This is more convenient and often more cost-effective than getting separate loans for each service.

If your actual repair costs less than your loan amount, you have options. You can use the extra funds for additional vehicle maintenance or upgrades, or you can make an immediate extra payment to reduce your principal balance and save on interest. Since there are no prepayment penalties, paying down your balance faster always benefits you.

Yes! Unlike some dealer financing options that restrict where you can have work done, Tresl funds go directly to your bank account. This means you can use any mechanic, dealership service department, auto body shop, tire store, or parts retailer you choose. You have complete freedom to get quotes, compare prices, and select the service provider you trust most.

Monthly payments are automatically deducted from your bank account on your chosen payment date via ACH transfer. You can also make additional payments or pay off the entire balance at any time through your online account portal without penalty. We'll send you email reminders before each payment is due. Some lenders also offer payment by debit card or check.

If you miss a payment, you may incur late fees (typically $15-30) and your credit score could be negatively impacted if the late payment is reported to credit bureaus. We understand financial difficulties happen, so if you're experiencing trouble making payments, contact us immediately. We may be able to work out a modified payment plan or provide temporary relief options.

Yes, you can typically request to change your payment date by contacting our customer service team or your lender directly. We'll work with you to find a payment schedule that aligns better with your income schedule (such as after your payday), making it easier to manage your monthly obligations and avoid late payments.

Yes, most of our lending partners report payment activity to one or more major credit bureaus (Equifax, Experian, TransUnion). This means on-time payments can help build your credit history and improve your credit score over time. Conversely, late or missed payments may negatively impact your score. Responsible borrowing with Tresl can be a credit-building opportunity.

Payment frequency options vary by lender. Most loans are structured with monthly payments, but some lenders may offer bi-weekly payment options. Bi-weekly payments can help you pay off your loan faster and reduce total interest paid. Contact your lender after approval to discuss available payment frequency options for your specific loan.

Tresl Auto Loan is currently available in 45 states across the United States. We are not currently available in Iowa, West Virginia, Vermont, Nevada, and the District of Columbia due to state lending regulations. During the application process, you'll be able to confirm whether we service your state. We're continuously working to expand our availability.

You don't necessarily need to own the vehicle outright. If you're making payments on an existing auto loan, that's perfectly fine. You should have regular access to the vehicle you're repairing. We focus on your ability to repay the repair loan based on your income and creditworthiness rather than vehicle ownership status. The vehicle is not used as collateral for Tresl loans.

Generally, we look for a minimum monthly income of approximately $1,500 from verified sources. This can include employment income, self-employment earnings, retirement benefits, Social Security, disability payments, or other regular income. We evaluate your debt-to-income ratio to ensure the monthly loan payment is manageable within your budget without causing financial strain.

Yes, self-employed individuals can apply for Tresl loans. You'll need to provide documentation of your income, which may include bank statements showing regular deposits, tax returns, 1099 forms, or profit and loss statements. Self-employment income is evaluated based on consistency and your ability to repay the loan.

Yes, you must be at least 18 years old to apply for a Tresl loan (19 years old in Alabama and Nebraska due to state regulations). You must also be a U.S. citizen or permanent resident with a valid Social Security Number. There is no maximum age limit as long as you meet all other eligibility requirements.

Generally, you'll need to pay off your existing Tresl loan before applying for a new one. However, policies may vary by lender. If you have a significant portion of your current loan paid off and need additional funds for a new repair, contact customer service to discuss your options. Maintaining a good payment history on your current loan improves your chances for future approval.