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Innovative Funding Services LLC

Phone: (512) 336-8700 Fax: (512) 336-8704 View Additional Phone Numbers 14205 Burnet Rd Ste 400, Austin, TX 78728 View Additional Email Addresses View Additional Web Addresses

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BBB Accreditation

A BBB Accredited Business since

BBB has determined that Innovative Funding Services LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Innovative Funding Services LLC include:

  • Length of time business has been operating
  • Response to 12 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

12 complaints closed with BBB in last 3 years | 8 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 2
Billing/Collection Issues 1
Delivery Issues 2
Guarantee/Warranty Issues 0
Problems with Product/Service 7
Total Closed Complaints 12

Customer Reviews Summary Read customer reviews

31 Customer Reviews on Innovative Funding Services LLC
Customer Experience Total Customer Reviews
Positive Experience 26
Neutral Experience 0
Negative Experience 5
Total Customer Reviews 31

Additional Information

BBB file opened: February 12, 2010 Business started: 01/29/2007 in TX Business started locally: 01/29/2007 Business incorporated 01/29/2007 in OH
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Consumer Credit Commission
2601 N. Lamar Blvd., Austin TX 78755
Phone Number: (800) 538-1579

Texas Department of Motor Vehicles (TxDMV)
4000 Jackson Ave., Austin TX 78731
Phone Number: 888-368-4689

Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Tim Janssen, President Mr. Bobby Bramlett, Vice president of Sales and Operations Mr. Rob McKie, COO
Contact Information
Customer Contact: Ms. Tracy Armstrong , Head of Compliance
Principal: Mr. Tim Janssen, President
Business Category

Auto Dealers - Used Cars Loans Consumer Finance & Loan Companies

Industry Tips
Buying A Used Car Navigating auto sales

Customer Review Rating plus BBB Rating Summary

Innovative Funding Services LLC has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 14205 Burnet Rd Ste 400

    Austin, TX 78728 (866) 504-3748 (512) 336-8700


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

4/27/2016 Delivery Issues | Read Complaint Details

Additional Notes

Complaint: I bought a BMW vehicle from AVIS / Budget on March 15th 2016. IFS contacted me to to facilitate the sale process. I sent full payment for the car, taxes, registration and paperwork IFS on 3/17/2016. The check cleared on 3/22/2016 and I received temporary tags by email. I trip to New York DMV revealed that the car is not own by me, Bank of New York has a lean on the car. There is no record of the sale from AVIS to me. No registration or paperwork was submitted to NY DMV for the sale/buy transaction. To make matter worst the so called IFS assigned sales agents do not respond to emails or phone calls. With the proper paperwork all NY DMV items could be solved in a matter of hours. IFS insisted to do the registration, title and paperwork and charged for those services too.

Desired Settlement: Provide all necessary paperwork to register, title and record the vehicle sale in NY state. Refund all charges for above services not performed by IFS.

Business Response:

Mr. ******** bought the car from Avis/Budget.  Since Avis financed the vehicle with the Bank of New York, there was a lien outstanding on the vehicle which had to be paid off.  IFS (Innovative Funding Services) assisted with the financing of the vehicle which was completed on March 18, 2016.  From that date, IFS sent the funds to pay off AVIS/ Budget.  By law, the Avis/Budget has 30 days to provide us a title.  The title was received from Avis/Budget on March 30, 2016. 

Once the title is received, IFS has to start the title paperwork with the State of New York to complete get the registration of the vehicle.  From that point, New York Department of Motor Vehicles (NY DMV) normally takes 45-60 days to process the title. The title was sent to the NY DMV on 4/13/16 and IFS is in contact with the Department to register the vehicle.  However, IFS cannot determine when the title process will be completed. 

IFS has offered to return its documentary fees of $163.30 to resolve this complaint.   

Tell us why here...

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.


******** ********

3/24/2016 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: I started a vehicle refinance with this Innovative Funding Services on 02.09.16. They were the broker for A+ Credit Union. The reason for this complaint is lack customer service, deceptive practices, they do not move in a timely manner and have not paid off the balance of my first F250 truck loan. Below are the events that took place in a summed up version. What i want is my loan to be paid in full AND for consumers and future customers to understand how unprofessional and dishonest Innovative Funding Services really is. On 02.10.16 the financal advisor gave me this informaton: "I wanted to send you the numbers and how to proceed if you wish for your review. The loan is simple interest 2.70% with no pre-payment penalties and first payment 03/25/2016. $762.42 payment @ 55 months simple interest and no prepayment penalties." On 02.11.16 Innovative Funding Services requested a pay-off from current loan holder, DATCU. DATCU furnished a (10) day pay-off. On 02.11.16 i started a second refinance loan with Innovative Funding Services for my 2015 Tahoe. On 02.12.16 i was informed that they approved my Tahoe loan at a higher rate. After i signed documents on 02.12.16 Innovative Funding Services tells me that my payment will now be 779.94 because they made a mistake. On 02.13.16 Innovative Funding Services tells me, "I had put 38900 as the payoff rather than the 39900 so when I got the correct payoff from you it adjusted to the correct amount. I really do apologize." On 02.23.16 Innovative Funding Services tells me this regarding my second vehicle loan: "Tahoe: the lender wouldn’t budge on the rate but because you are now a member of A+ they said once you update in their system that you can go directly thru them and they can give a rate discount for “existing members” to get you to that 2.7. We tried to get them to make the exception since you are almost a member but it’s only something they do internally." On 02.23.16 I started a direct refinance of my second vehicle (The Tahoe) with A+ Credit Union and was approved. On 03.01.16 my second vehicle (The Tahoe) with A+ Credit Union was funded. ONLY TOOK NINE DAYS TO COMPLETE. On 03.03.16 my first loan with Innovative Funding Services is funded but shorted by $37.60. I called DATCU and they told me that they provided Innovative Funding Services a (10) pay-off on 02.11.16 and that it had been (22) DAYS since they were told this. On 03.04.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.05.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.06.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.07.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.08.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.09.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.10.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date. On 03.11.16 i emailed Innovative Funding Services reminding them that there is still a balance with no response to date.

Desired Settlement: What i want is my loan to be paid in full AND for consumers and future customers to understand how unprofessional, slow and dishonest Innovative Funding Services really is. I would not recommend using this firm to anyone. I am also filing a complaint letter with Credit Karma who advertised this business and the with the State of Texas.

Business Response:

Innovative Funding Services, L.L.C. (IFS) appreciates the opportunity to respond to this complaint.  IFS has tried contacting Mr. ******* via the telephone but has only been able to reach him by e-mail.  IFS has overnighted the payment to the lender and has confirmed payoff. Next, Mr. ******* refinance two vehicles (2015 Chevy Tahoe and 2014 Ford F250) within days of each other.  IFS quoted on the rates on the vehicle based upon the lender’s requirements.  The rates were slightly different based upon the term of the loan (55 versus 72 months) and the loan amount.  The last rate was set by the lender not by IFS. 

After reviewing the notes from the Finance Advisor to the customer, Mr. ******* received a rate of 3.14% for 72 months on the 2015 Chevy Tahoe.  This rate is the same on the pre-qualification sheet, email sent by the Finance Advisor, and the loan documents. IFS tried to get Mr. ******* a lower rate but the bank would not lower the rate. 

With regard to the 2014 Ford 250, Mr. ******* received a 2.7% rate for a term of 55 months. This rate appeared on the pre-qualification sheet and on the loan documents.  The pre-qualification sheet signed by Mr. ******* reflected the payoff amount and any fees are correctly detailed before loan documents were generated.  At any time in the loan process, Mr. ******* could have cancelled the transaction and not signed the loan agreements. 

With regard to the loan payoff, IFS did not receive official notice from the payoff bank until March 8, 2016.  After approval by senior management, the remaining balance was sent to the bank to pay off the loan.  IFS acknowledges an error with the payoff amount on the 2014 Ford F250 was corrected in the normal course of business.  IFS believes that this issue is isolated to this transaction. 

Consumer Response:

Complaint: ********

I am rejecting this response because:

1. I do not want to talk on the phone to this company, they had their chance several times. I have communicated through email to make 100% sure everything is documented.

2. If this company could actually read my complaint, i never questioned the rates. Their dishonesty lies in quoting me a payment of $762.42 for my F-250 then a day later had me sign documents that have my monthly rate as 762.42. This company is so disorganized they don't even grasp the complaints.

3. My advice to IFS is to get it right the first time. In the future they need to be courteous, responsive, quick and honest. Double check your numbers before you send out bs monthly rates. Read your employees email correspondence with me. Be sure to look at responses and time frames. 

4. As of right now DATCU has yet to receive the remaining payment.


******* *******

Business Response: This loan has been paid off as verified on March 17, 2016. 

3/16/2016 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: I purchased a 2014 Ford Explorer from **** car rental that was in-house financed by IFS loan services in June of 2015. The process has been long and clunky from beginning to the the end (if there is an end). I did the extended test drive and contacted **** to advise them that I will be keeping the vehicle. At that point I referred to an IFS agent who said they would begin the process with me. I was sent some paperwork to fill out and I completed it and sent it back the next day. 2-3 weeks had passed without any contact from anyone at IFS. I contacted IFS to ask them about continuing the process since I had heard from no one in weeks. About 2 days later I received a really rude and abrupt phone call from another IFS agent who basically insinuated that I was joy riding/stolen the vehicle and that I needed to return it to **** or it would be repossessed. I explained to this woman in very colorful language that I was not joy riding in the vehicle and I had not stolen it and IFS has been the hold up for the past 2-3 weeks as they had not processed any of my paperwork. So over the next few days I was getting calls and emails all day to move the paperwork along as **** was requesting payment for the vehicle or the vehicle back. I had my own loan in place but by the time IFS decided to start moving on the paperwork my loan pre-approval had expired and I did not have time to get re-approval as **** had a deadline of a day in which they wanted payment or the vehicle so I was forced to go with the IFS lending solutions. Fast forward to January 2016 I still have dealers tags on my truck. I am on my 3rd set of dealers tags and my last set of tags had expired before anyone from IFS would do anything about sending me new dealers tags. It was not until I stated that the vehicle has dead tags and if its towed by the city the charges would be forwarded to IFS. Now today 1/11/16 I received an email from IFS stating that I need to go to the DMV to register my vehicle and get my tag. This did not sound correct as taxes, tags, title, etc was collected as part of my loan package so I am not going to the DMV to pay any money for these items. This still did not sound correct to me so I contacted the DMV myself and they informed me that no tag or registration for this vehicle or for me was submitted by IFS. I was informed that only title work was submitted. This is 7 months later after purchasing this vehicle that I still do not have tags on my car. Also there was information that buying a car through the **** program gave you special preferred privileges when renting vehicle from the company. I have asked IFS agents about this on multiple occasions and no one has given me information on this yet. I have asked about a spare key on numerous occasions and finally I was told to go to the dealership to purchase a new key that would be paid for by IFS. I went to the Ford dealership to have a new key ordered and programmed and I am not able to do this until I have a permanent registration in my name for the vehicle, which I have been trying to get from IFS for 7 months. My owners manual still has not been sent to me after 5 requests.

Desired Settlement: 1. I want my car registration and permanent tags. 2. I want the 2nd key for my vehicle 3. I want the owners manual to my vehicle 4. Refund of any IFS billed services that are part of my loan as they have not done any of the parts of this process in a timely or efficient manner.

Business Response: IFS has sent Mr. ******* a check for the key replacement and programming.  Additionally, IFS has sent Mr. ******* a link to obtain the owners manual and the fee to cover the costs of this replacement.  A check for the registration has been sent to Mr. ******* with directions on how to obtain his registration.  Due to the time delay and inconveniences experienced by Mr. *******, IFS also returned the service fee to the customer.  Mr. ******* should be updating his response as IFS has completed all of his requests. 

12/31/2015 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: I applied to *************** on 12/12/2015 for a refinance loan on my car. At that time it had stated that I had not been a proved for anything. Today 12/14/2015 I started to receive phone calls from a phone number ***** ********. At first I did not answer them because I was at work and did not have the time, but the calls became constant. The time of the calls were 10:24am, 11:08am, 11:33am, and finally 12:04pm. I finally answered because I was on lunch and the person calling would never leave a voice message. When I answered she asked for me by name and I stated that, yes that was me and she proceeded to inform me that she was with IFS Auto Loans and asked how I was. I state that I was fine, but wanted to know why I was getting continues calls every thirty minutes. At this time the girl hangs up on me. I was unfortunately never able to get her name because of this.

Desired Settlement: Decease and desist all communications with me beyond this point. I have no desire to do any business with your company now or in the future. If their is any more contact in any form be it phone call, mail or email, I will contact my attorney for harassment.

Business Response:

We apologize for any confusion, but we do not believe these calls came from IFS. Our records indicate your Finance Advisor tried to contact you but was unable to connect with you, and instead sent you a pre-qualification letter on December 12, 2015.

Additionally, a call from IFS would have had an area code of 512 or 720, and the 501 number you received these calls from appears to be from a landline phone originating in Arkansas. However, in an effort to honor your desire not to be called, I have also noted in your file that you no longer wish to be contacted.

It is not our practice to contact our customers every 30 minutes. If these calls persist, you answer one, and th
e caller says they are from IFS, please let us know by emailing **************************** ************ and we do what we can to resolve the issue.

We wish you the best of luck. 

12/8/2015 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: We were leasing a car through Honda Financial. We decided to purchase the vehicle. We found Innovative Funding services on line. The payoff with taxes on the 2013 Honda CR-V was $17,960 Michigan taxes include. The people at Innovative Funding Services charged us sales tax again on the car, bringing the total to about $19,300. We have been talking to the General Manager there, ***** ******** for some 8 weeks. He admits they drew the contract up wrong and charged us double on the sales tax. He has promised us that a refund of just over $1,000 was due back to us. We call nearly everyday and he tells us the refund is on it's way. We still have not received the over taxed refund. Meanwhile we continue to pay interest on this overcharge. He has not or won't text or email us the details. Only verbal conversations. They admit they owe us I believe it was $1,008. It is going on 2 months now and I feel it will never get resolved. Can you help us? My husbands name is ***** *** and you can contact him too at ***************

Desired Settlement: Repay us the moneys that are due because they did and admit they double taxed our car. Plus any extra interest we were charged by the over $1,000 mistake.

Business Response:

Thank you for allowing us the opportunity to respond.  IFS obtained a payoff quote from Honda Financial for the 2013 Honda CRV.  IFS had requested a payoff quote "without sales tax".  Unfortunately, Honda provided a payoff quote with sales tax included.  In Honda payoff quotes, they do not break down the charges included, so there is not a good way to determine if tax was included or not.  After the payoff was sent, it was discovered that sales tax should not have been charged in the loan documents.  The file was escalated up to manager ***** ******** on or around 10-15-2015.  ***** investigated the account, and communicated with Mrs *** that the amount was overpaid to Honda.  Honda normal procedure for this is to automatically refund IFs or the customer.  This was communicated to the ***'s on both 10-23 and 10-28.  We were contacted by the ***'s on 11-9-15 that they had yet to receive the check.  IFS has made calls to Honda on 11-9, 11-10, 11-13 and finally on 11-23.  On 11-23 Honda confirmed a check in the amount of $1006.83 was mailed to Mr. *** at his given address.  We will follow up on Wednesday 11-25-2015 to confirm the ***'s have received the check.  We also emailed the ***'s today explaining the timeline and next steps. 

11/28/2015 Delivery Issues | Read Complaint Details

Additional Notes

Complaint: As part of the purchase of a Avis rental care vehicile through IFS, new tires are supposed to be put on the vehicle. During the sales process IFS was responsive and confirmed the tires through email. Once they received my funds they have not followed through regarding the installation of the new tires nor have they communicated with me any timelines or any other details of the process. This is despite calls every day and multiple emails requesting information.

Desired Settlement: New tires installed on the vehicle as promised

Business Response:

As Mr. ****** claims, he did make a purchase of an Avis vehicle through IFS.  IFS arranges the sale of Avis vehicles.  At time of purchase, Mr. ****** was promised new tires by Avis.  At completion of sale this was arranged through Avis.  Unfortunately the wrong tires were ordered for the vehicle.  IFS does not control the repair process for Avis, we just assist in coordinating.  Both IFS and Avis did a poor job of communicating with Mr. ****** about the incorrect tires being ordered and the delay.  We have assigned manager ****** ******* to the account to coordinate communication the completion of the tire issue.  ****** ******* left a message for Mr. ****** yesterday to coordinate.  We apologize to Mr. ****** for the delay in getting this matter resolved.

9/17/2015 Advertising/Sales Issues | Read Complaint Details

Additional Notes

Complaint: Innovative Funding Services is the agent for Avis Car Sales Ultimate Test Drive program. Posters in the Avis rental office indicate that AutoNation is the agent for the car sales. But on their website IFS is listed as their agent in very small print at the bottom of the page. IFS is unfairly faulting prearranged financing from purchaser's local bank with a phony $150 tagging charge the local banks will not pay. Therefore, the buyer must take their loan or pay for the rental of the Avis vehicle. Also their $150 tagging fee is illegal in the state of Virginia. State law does not let them title and tag cars from Texas. They should not be offering this or any other service in Virginia. I bought a Ford Explorer from the Avis "Ultimate Test Drive" program here in Virginia Beach, Virginia. I have purchased an auto from Avis in years past with good results. Avis used to sell autos from a separate lot near an airport. I was able to arrange financing and they took care of the license plates, taxes, and tagging fee. One day and the whole transaction was complete. I arranged my own financing and everything went well. The "Ultimate Test Drive" program operated by Innovative Funding Services is much different. The Avis cars for sale here in Virginia are not at a lot but rather at taken to an Avis rental location. The rental agent knows very little beyond writing rental contracts. Her response to any question was to, "go to the website for answers". The poster at the rental office states that the sale will be handled by AutoNation. They are no longer involved in the process. A finance broker called Innovative Funding Services in Austin TX is their agent. The Avis Car Sales website indicates only in very small letters at the bottom of the page that IFS is not your agent but theirs. Their job is to push you into their funding. They don't handle trade-ins as indicated in the Avis rental office and are not interested in any prearranged financing you have arranged. They fault your pre-approved loan by saying they have a $150 titling fee which the banks or credit unions will not pay. Therefore, you have to take their loan which is 3% for 5 years. Their agent was very nice and helpful until the subject turned to money. He said my credit union loan was "too cheap at 1.5%" and they were not going to give money away. Now I'm stuck. They have my name on a rental agreement and I have the car at my home. I will have to pay the week long rental if I take the car back or accept their loan and terms. I'm retired and very much old school. I work with local banks to be known by bankers personally. I also think no car loan should be over three years. The cars are really not built well enough for a five year loan. Also my license plate is a special "Amateur Radio" license call sign registered by the Federal Government. It has to be on the car I own. They can not do that for me from Texas. To get out of their loan, I just wired them the full amount for the car. I know most folks are not in a position to do that, so I consider myself very fortunate. I was handed over to another agent who was very nice and cooperative. I reminded her that I had to do the tagging here in Virginia myself so I could transfer my special plates. She said not to worry because the state of Virginia will not let them tag vehicles from out of state. So Innovative Funding Services is offering and charging for a service that they can not provide here in Virginia. The entire Avis Car Sales program appears to be new and not well thought out. The rental agents are not trained to answer questions, the sales agent, IFS, is on the Internet and interested only in generating financing from the auto market. The car I bought still has the Michigan license plates on it with an active EZ Pass on the front window. I received only one keyless key fob with the car with no hope of getting another from Avis. I'm now trying to find out where to send this old license plate and who gets the EZ Pass RF tag. I get the impression Innovative Funding Services really is not interested or equipped to handle such items. I did get a Texas title and bill of sale from them in about 48 hours. She was very knowledgeable and responsive. She saved the transaction for me. I'm just going to have to find another way to purchase a car in the future.

Desired Settlement: Allow buyer arranged financing from their local banks if they want to use it. IFS can't be allowed to just discredit local bank financing in favor of their terms. Stop trying to offer a titling service for renumeration in a state (like Virginia) that does not allow such a transactions from out of a state like Texas. If they are going to market their used cars at their local rental offices, then have the Avis rental agents trained on the program details. The Ultimate Test Drive program has been in operation since 2012. Update their Avis and Budget rental office posters to indicate that AutoNation is not the agent any longer and Innovative Funding Services is. And also indicate the relationship Avis Car Sales has with IFS as their agent and not yours. A slight mention on their website at the bottom of a page is not good enough. Do a better job of informing the consumer that trade-ins are really not part of the program. Do a better job of preparing the car for sale (i.e. remove active EZ Pass devices, replace rental license plates with a temporary one from the local state, provide the second keyless entry fob that came with the vehicle, etc.). Explain the purpose of the "No Warranty" agreement that is in the purchase agreement. The car has a Ford warranty that is still in effect.

Business Response: Thank you for allowing us to respond.  As the customer claims, IFS is the agent assisting customers with their used car purchase program.  This program is brand new and has involved hundreds of locations, overhauls of 2 companies computer systems.  Coordination of efforts has been ongoing daily since then.  Regardless of all of that, we still have a lot to do to make the program seamless for the customer.  We have used this complaint to make several significant changes and improvements to the program already and will continue to do so.  IFS was chosen for this program due to our outstanding record of long term successful car finance programs.  We take full responsibility for breakdowns in this sale process for this customer and will work with Avis as we continue to improve and iron out the overall program.  We have communicated the Avis related issues to our contacts there to make the necessary changes to their side of the program.

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is a step forward in making this service comfortable for the customer.  The customer needs to know that they can use their own financing for the product if they desire without added expense.  Making the sale dependent on IFS finance terms is very awkward and restricting to the client.  I believe you will find a workable solution to make this service useful.  


**** ******

6/25/2015 Advertising/Sales Issues | Read Complaint Details

Additional Notes

Complaint: I was recommended IFS by ****** ***** to refinance my vehicle. I called IFS to ask exactly what specific criteria did I need to meet in order to be approved. I was told a certain income (I met criteria), certain credit score (I met criteria according to my ****** ***** score), and my vehicle had to meet certain criteria (which it did). However, I was turned down for a refinance loan and I never received any explanation as to why I didn't qualify.

Desired Settlement: I feel that since I met the criteria told to me by their customer service representative that I should be offered a refinance loan. Otherwise, this is false advertisement and I will let everyone know not to trust this company.

Business Response:

Thank you for allowing us the opportunity to respond to the complaint.  IFS is in the business to help consumers.  IFS does not get any benefit for not being able to assist people. 

I will respond to each part of the complaint.  As Ms. ****** noted, she did call and speak with one of our customer service individuals to determine the criteria needed to be approved.  The information given to Ms. ****** were guidelines for
underwriting a loan.  Until an application is taken in full, credit is pulled and the full application is complete, there is not way to completely insure someone will qualify for a loan.  As Ms. ****** states, she was given guidelines for income, which she did meet,
and guidelines for the age of her vehicle and mileage which were also met.  The issue that arose was in the credit score.  The credit score she is referring to was not located on our site, or under our control.  The credit score we obtained currently is not high enough to match with one of our lenders.  However, a few days ago Ms. ****** placed a complaint about us on Facebook.  That complaint was escalated up yesterday to my desk, and I asked one of our managers to reach out to Ms. ****** to dig in deeper to attempt to find a solution.  He left a message for her on the phone number provided.  I also left a message for Ms. ****** this morning at the same phone number.  IFS is more than willing to attempt to assist Ms. ****** in obtaining a better auto loan.  At her convenience, we would like to discuss with her the application to see if it can be accomplished, or to give her direction so that she can get this done as quickly as possible.  IFS does not have the ability to make an auto loan any time we choose, we have to match the person with a lenders criteria.  We will wait to hear from Ms. ****** or if she can provide the best contact times and way to contact, we will be glad to reach out.  The below statement in the complaint was information not supplied by IFS that the consumer relied upon.  IFS must pull an independent credit bureau for lending.  The credit score IFS pulls is one of the determining factors in obtaining an auto loan.  Per credit bureau rules, IFS cannot accept 3rd party credit bureaus or scores in making lending decisions.  We cannot speak to the ****** ***** score she references in that 1) That is not our company and 2) We do not have access to that information.

certain credit score (I
met criteria according to my ****** ***** score)

4/27/2015 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: The bank is just horrible . I started a refinance in January 2015 and everything was approved and verified and I was supposed to get a statement for Feb. But then they needed more paperwork the same paper work over and over. The representative said in Feb that everything was ok. My old bank calls me to set up a repo. I called the First Finical bank again to figure out what is going on only for them to tell me that they need to pull another credit report to finalize. Needless to say I called my old bank and paid them what I owed them. This bank needs to get it together

Desired Settlement: They should have to pay the fines and late charges that I had to pay due to them not being able to do a simple job. They also made my credit report take a huge plunge. they should have to accommodate for that also.

Business Response: Thank you for allowing us to respond.  We will attempt to answer each point accurately.  The refinance did not start in January as the customer claims in the complaint.  An application was received for auto refinancing by IFS on 2-24-2015 at 10:25 am.  The application was approved on 2-25-2015 at 2:57 pm.  Terms of the loan were covered with the customer on 2-25-2015 at 3:30pm at which time the customer agreed to terms.  Loan required docs were sent back to IFS on 3-6-2015.  Loan documents were then requested from First Investors Bank (the bank) on 3-11-2015.  On 3-12-2015 it was determined by the customer that the first due date of the loan was incorrectly quoted by IFS.  2 options were presented to the customer to correct the error.  1)  Finish the loan docs with the incorrect due date on them, or 2) generate new loan documents.  The customer requested new loan documents with the new date.  The documents were requested on 3-18-2015 with the correct first payment due date.  On 3-23-2015 the customer contacted IFS stating the loan documents had not been received.  IFS contacted the bank to re-issue loan documents.  They were re-issued and received by the customer.  Documents were returned to IFS on 3-30-2015.  Documents had multiple printing and signing errors on them and an email was sent to the customer with the corrections needed.  on 3-31-2015, IFS reached back to the consumer again, as they had not submitted some of the documents in the package required to fund their loan requesting these docs be sent in.  On 4-7-2015 the customer returned the documents again, missing additional signatures from the documents.  IFS contacted the customer again on 4-7-2015 requesting the corrected forms.  on 4-14-2015, IFS still had not heard back from the customer.  The bank informed us that the approval had now expired due to the length of time taken to return documents.  This was communicated to the customer who elected to cancel the loan and revert back to their previous loan.
IFS disagrees with the $826 claimed amount.  This amount would have been for principal vehicle payments that would have been the customers responsibility regardless of where the loan was located.  Since the loan was initiated on 2-24-2015 and documents generated to the customer on 3-11-2015, the first payment would not have been due until April 2015.  IFS advises customers to continue to make their vehicle payments until previous loans have been paid in full.  By the dates listed above, the earliest IFS could have paid off the previous auto loan would have been on the date the original documents could have been returned 3-12-2015.  The customer cancelled the loan on 4-14-2015.  Therefore, at most 1 late fee would have generated from the customers previous bank.
IFS greatly regrets not being able to assist the customer in a timely manner.  IFS cannot assume responsibility for incomplete documents, missing documents and lags in turn around time to assist in getting deals closed.  IFS prides itself in excellent service and our BBB rating.  IFS is more than happy to refund the customer 1 late fee with proper documentation of the March 2015 late fee.  Please attach the document outlining the March 2015 late fee to the complaint along with the remittance name and address and we will promptly issue.

Consumer Response: Complaint: ********

I am rejecting this response because: Here are emails that show it was due to your employees and not our end.. Waiting for week for no reply and also the same thing from a supervisor... Then from sending all information then having to send it again to a different person when they had it the whole time.. The time was due to your employees not knowing how to do their jobs or knowing what has already been received. 


******* *******

Business Response: Again, thank you for allowing us the time to respond.  In regards to the claim, there are 2 issues we are discussing.  1)  The process and 2) An amount of $864.  We will address each one here.  On the process, the transaction did not get fulfilled, which
is a lose for all parties involved.  We appreciate the emails being attached, we have all of those emails as well, along with additional emails regarding the transaction.  On the sample emails provided, you can clearly see on the dates of 3-4,3-5 and 3-31 we were waiting on documents, requesting documents or attempting to fix missing or incorrect pages.  We have additional emails in the gaps of 3-5 to 3-31 supporting more issues.  If the representative at the BBB would like us to upload those we certainly can.  IFS takes its share of responsibility for not being able to get this transaction fulfilled in a timely manner.  Several factors by all parties could have gone smoother. We routinely review processes and procedures to attempt to satisfy every customer. 
On the issue of compensation of $864 for payments and late fees.  IFS stands by it's previous decision on compensation and offer to pay the 1 late fee.  By the application date, normal bank late fee application and charges, the process could have at most caused a charge of 1 late fee.  Even if the loan transaction had been fulfilled, the consumer would have still been responsible for the car loan payments.  The transaction started on 2-24-2015.  Banks access late fees normally 15-30 days after the due date.  Unless the consumer was already past due, the late fees accessed would have occurred on 3-11-2015.  If a second late fee occurred on or around 4-10-2015, IFS would also be agreeable to pay the 2nd late fee.  As far as the vehicle payments and principal part of the loan.  IFS is not responsible for vehicle payments owed by the consumer.  In regards to the late payments, please attach bank records showing the loan, late payment amount, and date assessed for reimbursement.  IFS has your address on file in our system and would immediately remit that amount to you.  With all financial transactions, such as refinancing of loans, the sale of homes, cars, boats etc., it is the consumers responsibility to maintain payments on the assets until verified proof of payoff has been received by their owning financial institution. 

Consumer Response: Complaint: ********

I am rejecting this response because: You should contact your people and look at the fact that they kept asking me to sign papers to get a copy of the title which I refused to do because I had already provided the original. I am not asking you for money just so there isn't any confusion. Because I am completely able and Did pay my bills.  Going back had Mr. ******* not taken 2 weeks to respond the documents would have been completed. I personally think that your Finance company is a complete joke. There is no reason why you need to sign as much documents as buying a house to refinance a car. One other time that I have done one with a reputable bank it was 2 pages 3 signs and 45 mins. I really think you need to cut the crap and admit that you employee lazy and unreliable people, that do not even know what the  state laws for the client are when offering something as your employees have done .. here are additional emails if you are confused as to your employees capability

Good morning *******, I just wanted to let you know we received your loan documents and are getting ready to process them for funding.

Our funding clerk however needs a good work number for Noman for employment verification. The number we have listed on the application (###-###-####) does not appear to be a working number. If you could please get me a good number for employment verification I would greatly appreciate it, then we can get the loan funded and your old loan paid off.
Please let me know if you have any questions and I’ll be happy to help you out.

Thanks, have a great day! **** *******Finance Advisor***** * ****** ** **** ***Austin, TX  78728Direct Line: ###-###-####Fax: ###-###-####m*******@*********www.i**********   From: **** ******* [mailto:m*******@******com] 
Sent: Tuesday, March 24, 2015 9:40 AM
To: '*******'
Subject: RE: Completed: Refinance Agreement Perfect *******, thank you! From: ******* [mailto:********] 
Sent: Tuesday, March 24, 2015 9:23 AM
To: **** *******
Subject: Re: Completed: Refinance Agreement Just completed them will mail them back today as soon as I go and get the title from home 

Sent from my iPhone
On Mar 24, 2015, at 9:32 AM, **** ******* <m*******@i****.com> wrote:Good morning *******, I just wanted to let you know the new loan documents have been uploaded to for you to download. Please let me know if you have any questions about them.

Thanks, have a great day! **** *******Finance Advisor<image001.jpg>***** * ****** ** **** ***Austin, TX  78728Direct Line: ###-###-####Fax: ###-###-####m*******@i****.comwww.i**********   From: ******* [mailto:********] 
Sent: Monday, March 23, 2015 3:11 PM
To: **** *******
Subject: Re: Completed: Refinance Agreement Thank you !! I just don't want to run in to troubles because I don't want any negative things on my credit report.. 

Sent from my iPhone
On Mar 23, 2015, at 3:52 PM, **** ******* <m*******@i****.com> wrote:** *******,

I’m sorry for the delayed response. I’ve been working with my manager, **** ********, to figure out why your new loan documents have not been uploaded by First Investors yet. Typically they have a one or two day turnaround once they receive information, which we got to them on Wednesday. You should certainly have them by now and we’re at a loss for why First Investors haven’t gotten them uploaded.

**** is working with the processing manager at First Investors to find out what the hold-up is and he said they should have it uploaded today. 

Thank you for your continued patience in this process. Have a great day. **** *******Finance Advisor<image001.jpg>***** * ****** ** **** ***Austin, TX  78728Direct Line: ###-###-####Fax: ###-###-####m*******@i****.comwww.i**********   From: ******* [mailto:********] 
Sent: Thursday, March 19, 2015 3:48 PM
To: **** *******
Subject: Re: Completed: Refinance Agreement Hello I'm still waiting on the paperwork I was supposed to have it on Monday latest by Tuesday and it is now Thursday is there something that's the issue that's holding it up

Sent from my iPhone
On Mar 18, 2015, at 2:21 PM, **** ******* <m*******@i****.com> wrote:Hi Noman, 

We sent everything back over to First Investors yesterday, so you should get the new email this afternoon. 

Thanks, have a great day! **** *******Finance Advisor<image001.jpg>***** * ****** ** **** ***Austin, TX  78728Direct Line: ###-###-####Fax: ###-###-####m*******@i****.comwww.i**********   From: ******* Moughal [mailto:********] 
Sent: Wednesday, March 18, 2015 11:18 AM
To: **** *******
Subject: Re: Completed: Refinance Agreement **** still waiting on documents you were supposed to have them to me yesterday?  On Monday, March 16, 2015 4:49 PM, ******* <********> wrote: Perfect look Frwd to tomorrow's docs 

Sent from my iPhone
On Mar 16, 2015, at 4:45 PM, **** ******* <m*******@i****.com> wrote:Yes they would, so if we get them the payoff check 10 days from today you would receive the extra 20 days’ worth of interest refunded to you. The same would be true if you were to make a payment between now and when they receive the payoff, all of that extra amount would be refunded directly to you by check. 


******* ******

3/3/2015 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: On 26 Feb 2015, I submitted an online refinance auto loan application to Innovative Funding Services (IFS) and received an email (most likely autogenerated) shortly after from a finance advisor named Patrick ********. During their office hours, I attempted to contact the IFS finance advisor assigned to my application on several occasions only to reach his voicemail and leave a message. Meanwhile, I already received a loan approval from a federal credit union an hour after the IFS finance advisor returned my voicemail, which was approximately six hours after I submitted my loan application and received his email asking myself to contact him. Next day, Mr. ******** emailed me with questions pertaining to my personal information. All of the questions in the email could have been addressed on the application itself, but since they were not, I was bestowed the great honor of experiencing the outstanding customer service that is sparingly offered from IFS and it's representatives. The website says that a finance advisor will contact me within 48 hours to address any questions I have. It seems that this company only does so through email and phone calls during rush hour traffic. I live in the same time zone, the same great state of Texas as the company headquarters, and I would believe that calling, only once mind you, future customers during that obviously chaotic time isn't doing me any genuine service. It's not my responsibility to explain how this is a horrible practice or offer solutions to the IFS finance advisor's lack of time management. Before I dealt with these issues, I wanted to see if IFS could compete with my credit union. If the inept service that I dealt with is any representation of the company, I'm not interested in investing anymore of my time or giving IFS any of my business. There's no excuse to justify the poor handling of a simple auto loan and more importantly, no reason as to why someone should have a company such as IFS run a hard inquiry on their credit.

Desired Settlement: Requesting the IFS' hard inquiry be removed from my credit report for failure to provide service.

Business Response: Mr. ****** applied for an auto loan through our company on 2-25-15 at 11:12am.  As the website states, please allow 48 hours for contact with a finance advisor.  Our finance advisor attempted first contact with Mr. ****** on 2-25-15 at 5:15pm. The reason for this is that we have many lenders that we work with and tens of thousands customers a month to assist.  We apologize for calling at a time Mr. ****** deemed as chaotic.  When you assist tens of thousands of customers monthly across the U.S., in all times zones, it is impossible to guess at someone's schedule during the day.  IFS could have very easily competed with the credit union he chose, but he did not allow the process to vet out the way it is explained on our website.  IFS disagrees with Mr. ******'s assertion of inept service and poor handling.  IFS is a top tier company that, if given the opportunity by being patient and allowing the process to work the way it is explained, more than likely would have resulted in Mr. ****** getting a better loan than the one he had, and the one he just was approved for.  In regards to the statement of "There's no excuse to justify the poor handling of a simple auto loan and more importantly, no reason as to why someone should have a company such as IFS run a hard inquiry on their credit."  Mr. ****** by applying with IFS gave consent to pull credit when he applied.  This is clearly outlined on our site and is copied here "In processing your application, IFS and one or more of its affiliates may acquire your credit report. By signing this document you give explicit authorization to IFS and/or its affiliate lenders to obtain your credit report.'.  Since credit has been run, we would be happy to escalate the matter to a manager to see if we can beat the offer that Mr. ****** received.  We are very glad to hear Mr. ****** was able to secure a better loan offer for his automobile.

Consumer Response:

Complaint: ********

I am rejecting this response because:

The 48 hour policy is not what the complaint is in reference
to but rather the complete lack of accessibility of the assigned finance
advisor. Your institution misrepresents itself by notifying customers that a
finance advisor has been assigned to the loan request, is readily available for
our assistance,  and that customer service
is a priority with the company.

Informing me about the large volume of customers isn’t a
proper excuse, but an admittance that the system set in place does not work,
this being a case in point. You stated that I did not allow the process to vet
out the way it is explained. I did exactly as instructed by your finance
advisor in his email he sent me at 11:15AM, on 25 Feb 2014, which said “I
received your Credit Karma loan request to refinance your vehicle. To complete
the application, please call me at My DIRECT PHONE NUMBER listed below during
the hours of 9am-6pm CST Monday-Friday and 9am-5pm CST Saturday”. Nowhere in
the email does it state a disclaimer about delayed responses or a difficulty in
availability should be expected due to an influx of customers. If your response
time to a customer loan request was anything like your response time to a
Better Business Bureau complaint then we wouldn’t be here in this situation.

Your company did not make themselves accessible and I did
not receive any genuine service even though I followed your company representative's instruction. The credit inquiry was ran by IFS under fraudulent misrepresentation and needs to be removed.


******* ******

Business Response:

We appreciate the feedback and again are very glad you were able to ultimately get the auto loan you were looking for.  As far as your assessment of our processes
and business, we will agree to disagree. 

Consumer Response: Complaint: ********

I am rejecting this response because:

You can disagree about opinions but you can't disagree about facts. Your company representative contacted me at 11:15am, requesting me to call him directly while he made himself unavailable for the entire work day. Remove the hard inquiry due to your company's failure and move on to the next case. Thank you.


******* ******

10/10/2014 Problems with Product/Service | Read Complaint Details

Additional Notes

Complaint: I applied for an auto refinancing and was told it was approved on 9/5/14 via email and was asked to call ***** ******* to move forward with the transaction. I called and left voicemails and replied back with emails but with no response. My credit report showed 2 inquiries regarding this transaction. I had to call their phone number listed on their website to locate ***** ******* and he claims he had tried to call me which is not true. He then tells me I could get the refinancing but with a ridiculous interest rate. I am getting refinancing elsewhere but my credit took a hit because of the inquiries.

Desired Settlement: I need to have those 2 credit inquiries removed.

Business Response:

September 29, 2014

RE:  BBB response concerning credit inquiry


Dear Mr. *** & BBB,

As one of Credit Karma’s partners, we offer auto loans to people who apply using their site; we pull your credit to assist us in determining if your application meets the loan requirements. When you applied through their site, one of their disclosures in the “Terms and Conditions,” was to inform you that by applying using their site, you are allowing for Credit Karma partners to access your credit.

We adhere to IFS policy and agreements in place with Credit Bureaus, whereby the removal of valid inquiries is not an option. Indiscriminate removal of legitimate inquires “water down” the effectiveness of the Bureau and the reason we seek their information. In your case, I reviewed your supporting information and notes on our system regarding your applications.  I have included in this response the pertinent sections from the Credit Karma website “Terms and Conditions” for you.


In this instance Mr. *** *** applied for auto refinancing on two separate occasions using a third party website “Credit Karma”. This website’s “Terms & Conditions” inform all applicants that when submitting an application using their site, the applicant is granting Credit Karmas’ partners (IFS) permission to pull credit to determine qualified applicants.

The first application was received Sunday night on 5/25/2014, a welcome email is automatically sent by IFS to the applicant that includes our contact information. This application was not completed fully and additional information was required to determine if Mr. *** would meet our lenders qualifications.  An attempt to contact Mr. *** was made 5/27/2014 and again the next day 5/28/2014. The application was closed as non responsive after 6 pm on 5/29/2014.

The second application by Mr. *** was for auto refinancing for the same vehicle and used the same third party website to submit an application. We received the second application on 9/5/2014. A IFS Financial Advisor (FA) called Mr. *** within an hour of our receipt of the application. The FA reviewed the information with Mr. *** and sent it to our lenders for approval. That same day a phone message was left and an email was sent to Mr. *** stating we had an approval with both a lower payment and interest rate drop over his previous loan. Over the next eighteen days numerous attempts were made to contact Mr. *** to no avail. The application was closed as unresponsive. Three days later on 9/26/2014, Mr. *** called the FA and provided a better phone number to contact him. They went over the loan terms which dropped his loan payments and the interest rate 2.6% under Mr. ***’s original loan. Mr. *** requested for the FA to try to extend the term from 60 month loan to a 72 month loan and contact him back. The lender was not able to extend the loan to a 72 month term and the FA emailed that information to Mr. *** who never responded. Mr. *** then submitted a BBB complaint in an attempt to remove the May and September credit inquiries.

In an effort of goodwill and to continue our record of superior customer service, we at Innovative Funding Services would like to take this opportunity to thanks Mr. *** for his previous applications and rectify this issue by asking Equifax to remove both credit inquiries. We would also like to offer our services to Mr. *** in the future if the need arises.

Please contact me if you have additional questions.

*** ******



###-###-#### direct




9/25/2013 Billing/Collection Issues | Read Complaint Details

Additional Notes

Complaint: As per my Equifax/Transunion/Experian credit report, Innovative Financial Services, obtained my credit file on 02/21/2013. I don't recall applying for credit, employment or insurance with this company. From the FCRA 616. Civil liability for willful noncompliance [15 U.S.C. 1681n] "(b) Civil liability for knowing noncompliance. Any person who obtains a consumer report from a consumer reporting agency under false pretenses or knowingly without a permissible purpose shall be liable to the consumer reporting agency for actual damages sustained by the consumer reporting agency or $1,000, whichever is greater." From the 1998 FTC opinion letter Greenblatt at"Any person who procures a consumer report under false pretenses, or knowingly without a permissible purpose, is liable for $1000 or actual damages (whichever is greater) to both the consumer and to the consumer reporting agency from which the report is procured." Please explain your permissible purpose for your obtaining my credit file. Should you not have a permissible purpose, please arrange for payment of $1,000 by December 31st, 2013. Sincerely, *****

Desired Settlement: Please remove all Inquires on my credit file for all reporting agencies as soon as possible. and explain your permissible purpose for your obtaining my credit file. Should you not have a permissible purpose, please arrange for payment of $1,000 by December 31st, 2013.

Customer Review(s)

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Customer Reviews Summary

31 Customer Reviews on Innovative Funding Services LLC
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