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According to its company website (, Innovate Auto Finance aka Innovate Loan Servicing Corporation (Innovate) “specializes in purchasing auto portfolios of all sizes in the less than prime credit tiers.”  Innovate’s management team has over 60 years of collective experience in the automotive finance industry and the company is licensed to do business in most states.  Innovate focuses on portfolio acquisitions from banks, credit unions, franchise and independent auto dealers, as well as finance companies.  Innovate’s “flexible terms and seller friendly process has earned us the reputation as a company that portfolio sellers want to do business with again and again.”  The company claims to have the “capital, commitment, and experience to be a partner you can depend on during all business cycles.”

According to the “Loan Servicing” section of its website, Innovate specializes in “Third Party Loan Servicing” and is committed to “loan servicing excellence allowing your customers to experience unparalleled levels of customer service while providing you with the optimal cost and credit performance solution for your portfolio.”  The Innovate website states, “In essence, your customers become our customers.  Our mission is simple

·  Provide outstanding service to your customers
·  Lower your costs of operation
·  Improve your portfolio performance”

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Innovate Auto Finance 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 16 factors. Get the details about the factors considered.

Factors that lowered the rating for Innovate Auto Finance include:

  • 35 complaints filed against business

Factors that raised the rating for Innovate Auto Finance include:

  • Response to 35 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.

Customer Complaints Summary Read complaint details

35 complaints closed with BBB in last 3 years | 9 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 14
Delivery Issues 2
Guarantee/Warranty Issues 0
Problems with Product/Service 18
Total Closed Complaints 35

Additional Complaint Information

BBB files indicate that this business has a pattern of complaints concerning Service and Billing/Collection Issues.  Specifically, complaints allege difficulty obtaining vehicle titles, an inability by customer service representatives to resolve issues, harassing collection calls and misapplication of funds.  Although the business has responded to the alleged claims in the complaints, the BBB continues to receive complaints.

September 2012 the BBB sent certified correspondence to the Innovate Auto Finance requesting their voluntary cooperation in eliminating the pattern of customer complaint.  The BBB received communication from the business.  The business stated they have seen growth in their business in the last 12-18 months.  An audit of the BBB complaints will be done to determine if there are any concerns relating to customer service. 

Customer Reviews Summary Read customer reviews

1 Customer Review on Innovate Auto Finance
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 1
Total Customer Reviews 1

Additional Information

BBB file opened: October 07, 2011 Business started: 07/22/2009 in TX Business started locally: 07/22/2009
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:

Texas OCCC-Office of Consumer Credit Commissioner
2601 N Lamar Blvd, Austin TX 78705
Phone Number: 512-936-7600
Fax Number: 512-936-7610
The number is 15148-56934.

Type of Entity

Limited Liability Company (LLC)

Business Management
Ms. Shalonda Kenebrew, Legal Special Accounts Manager
Contact Information
Principal: Ms. Shalonda Kenebrew, Legal Special Accounts Manager
Business Category


Alternate Business Names
Innovate Auto Solutions LP Innovate Loan Servicing Corporation

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Types of Complaints Handled by BBB

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