iNet Lending and Insurance, Cedar Park, TX

Found Inet through Lending Tree. In summary this is not an outfit your want funding your purchase as they are only interested in selling their product which is a worthless gap policy, tire and wheel "insurance" as well as overpriced and useless extended warranties. If you decline purchasing their products then they will hike your rate but you will not find this out up front. This takes place after you have already had discussions with them, application approval and hard credit inquiry has hit. Very unethical business here. I quickly moved to another lender and informed LendingTree.

I've only done business one time with iNet and would not recommend anyone looking for a boat loan to use their services. If I could rate them less than 1 star, I would. Short story is that I own and operate a boat dealership where a prospective buyer attempted to secured a loan with iNet financial Services. The boat in question was a consignment, meaning I was selling a boat on behalf of a private individual/client, as a part of a service I offer. I worked (or tried to work with) a gentleman who we will call “AB”. “AB” was very often not receptive to the concerns of the buyer, the consignee (my client), or me (the selling dealer). First bit of trouble is when “AB” requested to speak with the owner listed on the title for the vessel. I let him know and sent a signed consignment agreement between my client and my business stating that my business was authorized to sell the boat on his behalf. This agreement had the clients name and address that matched the title of the boat exactly. This was not good enough for “AB”, he claimed he had to speak to the owner directly via phone to verify. "OK," I thought, I can understand wanting to verify that somewhat, regardless of the signed consignment agreement. Second bit of trouble had to do with how “AB” thought I should be selling the boat, a bit of trouble for him to understand. “AB” drew up all the documents for the loan to go directly to my client, which you would do in a private party sale between two individuals. Well, that doesn't apply in this instance as my business is licensed by Texas Parks and Wildlife, where by law, the dealer must transfer the title with in a certain number of days for the buyer. I let Alan know, "hey, this transaction can't executed in this way". I let him know, this recipient of this loan is my company, not the individual. How my client and my business handle my client's compensation is none of iNet's business. “AB” draws up documents for a private party sale and after one to two attempts to explain to him that it must go through my business, he fuses to make any changes. Cue the prospective buyer losing patience, as according to Alan, I have not executed the paper work. "The underwriting department is at a complete standstill until we receive said documents". Alan then, extremely unprofessionally in my opinion, reaches out for my client to say that he needs to get ahold of me as I am holding up the sale of the boat (after multiple attempts to have Alan to change from a private party sale). I offer the consignments in a white glove style service, my clients should only ever have to interface with me or my associates, never the prospective buyer, and not a prospective buyer's loan coordinator. Then had a phone conversation with “AB” where I got fed up of the same repetitive rhetoric, I ask to speak with his manage. Great! Well, it was even better, I got the owner. So I explain to the owner of iNet, here is where we are, we must change the pay out to my company, this deal is between my company and the prospective buyer, my client doesn't need to be listed on any of this. The owner attempts to explain to me the nature of a consignment sale. I don't mind, but really, the loan gets changed or the boat doesn't get sold. Then the owner of iNet tells me how I should sell boats. Really?!? I would at a minimum find this company to be unwilling to negotiate or consider acceptable alternatives. If I had had a few beverages, I would say this company sucks. The boat lending world is not very big, and I would to have loved to have iNet in my rolodex as my go to for boat loans. But the behavior and attitudes presented to me and my company in this one single transaction would make me say "don't turn, and walk away, but RUN" from this company. I've had $500,000 boat loans take less time, effort, energy and correspondence as this $40,000 loan took through iNet.

iNet made my boat buying experience really easy, they took care of everything. It was a really simple process, and Lisa was amazingly helpful and went above and beyond to help my wife and I get our boat. I highly recommend them.

Found Inet through Lending Tree. In summary this is not an outfit your want funding your purchase as they are only interested in selling their product which is a worthless gap policy, tire and wheel "insurance" as well as overpriced and useless extended warranties. If you decline purchasing their products then they will hike your rate but you will not find this out up front. This takes place after you have already had discussions with them, application approval and hard credit inquiry has hit. Very unethical business here. I quickly moved to another lender and informed LendingTree.

I've only done business one time with iNet and would not recommend anyone looking for a boat loan to use their services. If I could rate them less than 1 star, I would. … More

iNet made my boat buying experience really easy, they took care of everything. It was a really simple process, and Lisa was amazingly helpful and went above and beyond to help my wife and I get our boat. I highly recommend them.