Lendward.com Review

Based on looking at the website, Lendward.com appears to be a legitimate platform offering various financial services, primarily focused on auto and mortgage loans, alongside credit and insurance services.

However, a significant concern from an ethical standpoint, particularly in Islamic finance, is its explicit promotion of interest-based loans and refinancing, which falls under the category of Riba usury. Riba is strictly prohibited in Islam due to its exploitative nature and negative societal impacts.

While the website provides detailed information about its services, the core offerings are fundamentally misaligned with Islamic financial principles.

Overall Review Summary:

• Website Legitimacy: Appears legitimate with clear contact information, terms, and privacy policies.
• Services Offered: Auto loans new/used, refinancing, private party, mortgage services purchase, refinance, HELOC, non-QM, reverse mortgage, hard/private money, credit services Experian Boost, insurance services Experian Auto Insurance, warranty services Auto Warranty, and personal loan services.
• Ethical Compliance Islamic Finance: Fails to comply due to explicit offering of interest-based loans Riba, which is forbidden.
• Transparency: Provides a good level of detail on how its services work, including resources and a loan calculator.
• Accessibility: Offers a Spanish version of the page and clear contact methods.
• BBB Complaints: The website does not directly link to BBB complaints on its homepage, but a quick search for “Lendward complaints BBB” would be advisable for users to check for themselves before engaging with any financial institution.
• Recommendation: Not recommended for individuals seeking Sharia-compliant financial solutions due to the involvement of interest Riba.

Given the fundamental issue of interest-based transactions, the services offered by Lendward.com are not permissible within Islamic finance.

Engaging in Riba is considered a major sin in Islam, leading to severe warnings in the Quran and Sunnah.

It undermines economic justice, concentrates wealth, and can lead to financial instability for individuals and society.

Instead, individuals should seek out financial alternatives that adhere to Sharia principles, focusing on ethical and socially responsible dealings.

Best Alternatives for Ethical and Sharia-Compliant Needs Non-Edible:

• Guidance Residential
  • Key Features: Offers Sharia-compliant home financing, focusing on Murabaha and Ijarah contracts instead of interest-based mortgages. They partner with clients to purchase homes through an ethical co-ownership model.
  • Average Price: Varies based on home value and contract terms.
  • Pros: Fully Sharia-compliant, ethical alternative to conventional mortgages, established reputation in Islamic finance.
  • Cons: Limited availability in some regions, specific eligibility criteria, process might be different from conventional loans requiring understanding of Islamic contracts.
• Lariba Bank
  • Key Features: A financial institution dedicated to providing interest-free banking and financial services, including home financing and business financing based on Islamic principles.
  • Average Price: Varies based on service.
  • Pros: Comprehensive Sharia-compliant financial services, commitment to ethical banking, transparent processes.
  • Cons: Might have fewer branches or online features compared to conventional banks, potentially longer processing times for certain services.
• MPAC Solutions Sharia-Compliant Auto Financing
  • Key Features: Provides auto financing solutions structured on Islamic principles like Murabaha, where the financier purchases the car and resells it to the client at a pre-agreed profit margin, avoiding interest.
  • Average Price: Varies based on vehicle price and financing terms.
  • Pros: Direct Sharia-compliant alternative for auto loans, clear and transparent contract structure.
  • Cons: May require more documentation than conventional loans, availability might be geographically limited.
• Amana Mutual Funds
  • Key Features: Offers a range of mutual funds invested in Sharia-compliant businesses, avoiding industries like alcohol, gambling, and interest-based finance. Provides ethical investment opportunities for individuals.
  • Average Price: Investment minimums vary by fund.
  • Pros: Allows for ethical investing aligned with Islamic principles, professional management, diversification.
  • Cons: Like any investment, carries market risk. fees associated with mutual funds.
• Wahed Invest
  • Key Features: A robo-advisor offering Sharia-compliant investment portfolios, making ethical investing accessible. They screen investments to ensure they meet Islamic guidelines.
  • Average Price: Low minimum investment, fees based on assets under management.
  • Pros: Easy to use, automated ethical investing, diversified portfolios, good for beginners.
  • Cons: Performance tied to market fluctuations, limited customization options for portfolios.
• Family Takaful Providers
  • Key Features: Takaful is an Islamic insurance system where participants contribute to a fund that is used to help members in times of need. It operates on principles of mutual cooperation and solidarity, avoiding interest and uncertainty.
  • Average Price: Contributions vary based on coverage.
  • Pros: Ethical and Sharia-compliant alternative to conventional insurance, promotes community support.
  • Cons: Fewer providers compared to conventional insurance, may not offer all types of coverage available in conventional markets.
• Islamic Credit Unions/Community Funds
  • Key Features: These organizations often provide financial services that prioritize community well-being and operate on interest-free models, sometimes offering Qard Hasan benevolent loans or ethical financing options.
  • Average Price: Varies by service.
  • Pros: Supports local communities, ethical financial practices, focus on social responsibility.
  • Cons: Limited in number and geographical reach, may have fewer services than large conventional banks.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Lendward.com Review & First Look

Lendward.com, at first glance, presents itself as a comprehensive financial service provider, aiming to assist users with various loan, credit, and insurance needs. The website’s design is professional, featuring clear navigation and a seemingly user-friendly interface. It offers a range of services from auto loan services including new and used car loans, auto refinancing, and private party auto loans, to more complex mortgage services encompassing purchase, refinance, HELOC, Non-QM, Reverse Mortgage, and Hard/Private Money options. They also dabble in credit services with Experian Boost®, insurance services through Experian Auto Insurance, and warranty services for autos, alongside personal loan services.

Initial Impressions of Service Offerings

The breadth of services is considerable, attempting to cover a significant portion of a consumer’s financial needs related to vehicles and housing.

The site prominently features calls to action like “MOVE FORWARD with your new car, new loan—and your life,” suggesting a focus on facilitating quick and easy access to credit.

However, a deeper look reveals that the foundational principle behind nearly all their offerings is interest-based lending, a practice widely known as Riba.

For instance, the site explicitly mentions “interest rate as low as 2.99% with approved credit” for loans and refinancing.

This immediately flags a major concern for anyone seeking Sharia-compliant financial solutions, as Riba is strictly forbidden in Islam.

Transparency and Information Provided

Lendward.com does a decent job of providing information.

They have a “How It Works” section that outlines their process: online application, speaking with a representative, scheduling an appointment, and ultimately getting a competitive loan.

They also provide a “Resources” section with articles on topics like “What is a FICO score?” and “Why should I refinance my vehicle?”, which is helpful for general financial literacy.

A loan calculator is also integrated, allowing users to estimate monthly payments based on loan amount, term, and interest rate. Servmask.com Review

This level of transparency in outlining the mechanics and offering educational content is positive for a conventional financial platform, but it doesn’t mitigate the fundamental issue of interest.

Missing Elements and Ethical Concerns

While the site offers an email address and a phone number 800.391.9310, it lacks immediate access to customer reviews or direct links to independent review platforms like the Better Business Bureau BBB on its main page, though it mentions Trustpilot. For a financial institution, a proactive display of customer feedback and complaint resolution channels is vital for building trust. More critically, the consistent promotion of interest-based loans and refinancing means that Lendward.com is not an ethical choice for individuals adhering to Islamic finance principles. The entire model revolves around the concept of borrowing and lending with interest, which contradicts core Islamic economic tenets.

Lendward.com Pros & Cons

When evaluating Lendward.com, it’s crucial to look beyond the surface and consider both its operational strengths and, more importantly, its fundamental drawbacks, particularly from an ethical and Sharia-compliant perspective.

While the website presents a polished front and offers a range of services, its core business model carries inherent issues for a significant segment of the population.

Disadvantages and Ethical Concerns Cons

The primary and most significant disadvantage of Lendward.com stems from its reliance on interest-based financial products.

This is a critical point for anyone seeking ethical and Sharia-compliant solutions.

• Involvement in Riba Interest: The website explicitly promotes loans with interest rates, such as “interest rate as low as 2.99%.” This is the cornerstone of its business model. In Islam, Riba, or usury, is strictly prohibited. It is viewed as an exploitative practice that generates wealth from money itself rather than from productive economic activity, leading to social injustice and economic instability. The Quran and Sunnah contain clear condemnations of Riba, emphasizing its destructive nature. For a Muslim, engaging with such services is not permissible.
• Lack of Sharia-Compliant Alternatives: Lendward.com makes no mention of offering Sharia-compliant financial products. There are no indications of Murabaha, Ijarah, Musharakah, or other Islamic financing structures that avoid interest. This means the platform is entirely unsuitable for individuals and families who prioritize adherence to Islamic principles in their financial dealings.
• Potential for Debt Accumulation: While presented as a solution for “moving forward,” the ease of access to loans, especially personal loans and refinancing, can lead to increased debt burden if not managed responsibly. The very nature of interest-bearing loans can create a cycle of debt, where individuals pay back more than they initially borrowed, potentially straining their financial health over time.
• Limited Transparency on Customer Feedback: While a Trustpilot link is present, direct integration of customer reviews or a clear path to consumer protection agency reports like BBB on the homepage could enhance transparency. Users would need to actively search for “Lendward complaints BBB” or “Lendward complaints” to gauge the experiences of others.
• Focus on Conventional Lending Metrics: The website’s emphasis on FICO scores and traditional credit repair methods, while standard in conventional finance, reinforces a system that can be exclusionary or problematic for those who prefer alternative, ethical credit-building approaches not based on interest.

Advantages from a Conventional Perspective Pros

While not ethically permissible, it’s worth acknowledging the features that might appeal to those not bound by Sharia principles.

• Broad Range of Services: Lendward.com offers a one-stop shop for various financial needs, including auto loans, mortgage services, personal loans, credit services, and insurance, which can be convenient for some users.
• User-Friendly Interface: The website appears well-designed and easy to navigate, allowing users to find information quickly. The presence of a loan calculator is a useful tool for quick estimations.
• Educational Resources: The “Resources” section provides articles on relevant financial topics like FICO scores and refinancing, which can be beneficial for individuals seeking to understand these concepts.
• Accessibility: The option to view the page in Spanish and clear contact information phone number, email, physical address enhance accessibility for a wider audience.
• Integration with Experian: The partnership with Experian for credit boost and auto insurance services could be seen as a benefit for users looking to leverage these tools for financial management within the conventional system.

Lendward.com Alternatives

For individuals committed to ethical and Sharia-compliant financial practices, steering clear of interest-based models like those offered by Lendward.com is paramount.

The alternatives focus on Islamic financial institutions and models that prioritize equity, shared risk, and social responsibility over Riba interest.

Islamic Home Financing Mortgage Alternatives

When it comes to purchasing a home, the conventional mortgage model, which involves interest, is not permissible. Islamic finance offers several alternatives: Wesociety.co Review

• Murabaha Cost-Plus Financing: In a Murabaha contract for home purchase, an Islamic financial institution buys the property at the client’s request and then sells it to the client at an agreed-upon profit margin. The client pays the total price cost + profit in installments. This avoids interest by structuring the transaction as a sale rather than a loan.
  • Leading Providers: Guidance Residential, Lariba Bank.
• Ijarah Lease-to-Own: This is a lease agreement where the financial institution buys the property and then leases it to the client for a specified period. At the end of the lease, or upon agreement, the ownership of the property is transferred to the client. The payments are lease rentals, not interest.
  • Leading Providers: Various Islamic banks and financial cooperatives may offer this.
• Musharakah Mutanaqisah Diminishing Partnership: This is a declining partnership where the financial institution and the client jointly own the property. The client gradually buys the institution’s share of the property in installments, and simultaneously pays rent for the portion of the property owned by the institution.
  • Leading Providers: Some specialized Islamic finance entities.

Ethical Auto Financing Alternatives

Similar to home financing, purchasing vehicles through interest-based loans is avoided. Islamic finance offers viable options:

• Murabaha for Auto Purchase: An Islamic financial institution purchases the desired vehicle and then sells it to the client at a mark-up. The client pays the total agreed-upon price in installments. This is the most common Islamic auto financing method.
  • Leading Providers: MPAC Solutions, various Islamic credit unions, or specific programs within Islamic banks.
• Ijarah Lease: An Islamic lease agreement where the institution buys the car and leases it to the client for a set period, with an option to purchase at the end of the lease.

Ethical Credit and Investment Alternatives

For building credit and investing ethically, conventional services like Experian Boost or interest-bearing savings accounts are not suitable.

• Sharia-Compliant Investments: Instead of conventional savings accounts that yield interest, ethical investing focuses on Sharia-compliant mutual funds, sukuk Islamic bonds, or direct investments in halal businesses.
  • Leading Providers: Amana Mutual Funds, Wahed Invest. These platforms screen investments to exclude industries like alcohol, gambling, conventional finance, and unethical practices.
• Building Credit Ethically: Focus on paying bills on time, using debit cards, or establishing credit through secured credit cards from conventional banks if there are no Sharia-compliant options, with strict discipline to pay off in full every month to avoid interest. Community-based Qard Hasan benevolent loan programs, though less formal, also exist.

Ethical Insurance Takaful

Conventional insurance often involves elements of Riba interest on investments of premiums and Gharar excessive uncertainty. Takaful is the Islamic alternative.

• Takaful: This is a cooperative system where participants contribute to a common fund, and this fund is used to pay out claims. It operates on principles of mutual cooperation and solidarity, avoiding interest and excessive uncertainty.
  • Leading Providers: Various Takaful companies globally. search for “Takaful providers in your region“.

How to Avoid Interest-Based Financial Products

Avoiding interest-based financial products is a cornerstone of ethical living within Islamic principles.

It requires diligence, understanding of alternatives, and a disciplined approach to personal finance.

Understanding Riba and Its Implications

Riba, often translated as usury or interest, is unequivocally prohibited in Islam.

This prohibition applies to both receiving and paying interest.

The Quran explicitly warns against Riba, stating that Allah destroys Riba and nourishes charities, and those who consume Riba will face severe consequences. This isn’t just about financial morality.

It’s about fostering economic justice, preventing exploitation, and encouraging real economic activity based on tangible assets and shared risk. Missrosier.com Review

The conventional financial system, with its pervasive use of interest in loans, credit cards, and investments, stands in direct opposition to this principle.

Data shows that high-interest debt can trap individuals in a cycle of poverty, with average credit card interest rates often exceeding 20% annually, leading to substantial financial strain.

According to a 2023 report by the Federal Reserve, outstanding credit card debt in the U.S.

Reached a record $1.13 trillion, with millions struggling under high interest payments.

Strategies for Avoiding Interest

• Save First, Buy Later: The most straightforward way to avoid interest is to save enough cash to purchase major assets like cars or homes outright. This requires disciplined budgeting and long-term financial planning. For instance, instead of taking out an auto loan, set up a dedicated savings account and consistently contribute until you can buy the vehicle with cash.
• Seek Halal Financing Alternatives: For necessities that cannot be purchased with cash immediately like a home, explore Sharia-compliant financing institutions. As discussed, options like Murabaha, Ijarah, and Musharakah Mutanaqisah offer ways to acquire assets without engaging in interest. These institutions exist globally and are growing in prominence, with the Islamic finance industry estimated to be worth over $4 trillion in 2022, according to the Islamic Financial Services Board IFSB.
• Utilize Takaful for Insurance: Replace conventional insurance policies with Takaful. Takaful models operate on principles of mutual cooperation, where policyholders contribute to a fund that is used to compensate members for losses, avoiding interest-based investments and excessive uncertainty.
• Avoid Credit Cards, or Use Them Prudently: Credit cards typically involve interest if the balance is not paid in full by the due date. The ideal approach is to avoid them entirely. If used, ensure you pay the full statement balance every single month to avoid incurring any interest charges. This requires strict budgeting and expenditure control.
• Explore Ethical Investment Options: Instead of conventional savings accounts or bonds that pay interest, invest in Sharia-compliant mutual funds, ethical equities, or Sukuk Islamic bonds. These investments adhere to Islamic guidelines, avoiding industries like alcohol, gambling, pork, and conventional financial services that deal with interest. The Dow Jones Islamic Market Index, for example, tracks Sharia-compliant stocks globally, showcasing the viability of ethical investing.
• Budgeting and Financial Discipline: A robust personal budget is crucial. Track income and expenses rigorously to ensure you live within your means and avoid the need for interest-bearing loans. Tools like budgeting apps or simple spreadsheets can be incredibly effective. Aim to have an emergency fund of 3-6 months’ living expenses to cover unexpected costs, reducing the likelihood of needing high-interest personal loans.

Understanding Lendward.com Pricing Conventional View

From a conventional finance perspective, understanding the “pricing” of services like those offered by Lendward.com primarily revolves around interest rates, fees, and the overall cost of borrowing.

While Lendward.com doesn’t explicitly list a menu of fixed fees on its homepage, it clearly outlines the core components that determine the cost of their services.

Interest Rates

The most significant component of “pricing” for Lendward.com’s loan services is the interest rate. The website states, “For a limited time, you may qualify for a new loan or refinance from Lendward at an interest rate as low as 2.99% with approved credit.” This indicates a variable interest rate structure, where the actual rate offered to a borrower depends on several factors:

• Creditworthiness: As implied by “with approved credit,” individuals with higher FICO scores and stronger credit histories are likely to qualify for the lowest advertised rates. Those with less stellar credit might face significantly higher rates to compensate for perceived higher risk.
• Loan Type: Different loan products auto loans, mortgages, personal loans will inherently have different prevailing interest rates based on market conditions, loan duration, and collateral.
• Loan Term: Longer loan terms typically result in higher overall interest paid, even if the monthly payment is lower, due to interest accruing over a more extended period.
• Market Conditions: Interest rates are influenced by the broader economic environment, including the Federal Reserve’s policies. The website acknowledges this: “All indications are that the Federal Government is going to raise interest rates within the next few months. So there’s no time like the present for you to act on a new loan.”

Fees and Additional Costs

While not overtly detailed on the homepage, financial services typically involve various fees that contribute to the total cost of borrowing. These can include:

• Origination Fees: A fee charged by the lender for processing a new loan application.
• Application Fees: Costs associated with processing the loan application, sometimes non-refundable.
• Prepayment Penalties: Though less common with consumer loans, some loans might carry penalties for paying off the loan early.
• Closing Costs for Mortgages: For mortgage services, closing costs can include a range of fees such as appraisal fees, title insurance, attorney fees, and recording fees, which can add 2-5% of the loan amount to the total cost.
• Late Payment Fees: Penalties incurred if a borrower misses a payment deadline.
• Other Service Charges: Depending on the specific service, there might be fees for things like document preparation, credit checks, or broker services.

Loan Calculator

Lendward.com provides a loan calculator on its homepage, allowing users to input a desired loan amount, term in months, and interest rate to estimate their monthly payments, total principal, and total interest. This tool offers a level of transparency regarding how these variables impact the cost of a loan, enabling users to play with different scenarios before applying. For example, if a user inputs a $20,000 loan, 60 months 5 years, and a 5% interest rate, the calculator would show an estimated monthly payment of $377.42, with total interest paid over the term amounting to $2,645.20. This clearly illustrates the financial burden imposed by interest over the life of the loan.

Navigating Lendward.com for General Information

Even for those who would not engage with Lendward.com’s primary interest-based services, the website offers general financial information that could be useful. Rocketmoney.com Review

The “Resources” section is a particular highlight, providing insights into various aspects of personal finance.

Exploring the Resources Section

Lendward.com’s “Resources” section provides several articles designed to help consumers understand common financial concepts related to auto and credit management.

While the advice is framed within the context of conventional finance, the underlying information can offer general knowledge.

• “What is a FICO score?”: This article likely explains what a FICO score is, how it’s calculated payment history, amounts owed, length of credit history, new credit, credit mix, and why it’s important in the conventional lending world. Understanding these components can be universally beneficial, even if one aims to build credit ethically without relying on interest. For instance, consistently paying bills on time, a major factor in FICO, is a good financial habit regardless of the financing model.
• “Why should I refinance my vehicle?”: This resource would typically discuss the common reasons for refinancing a car loan in a conventional setting, such as lowering monthly payments, reducing the interest rate, or changing loan terms. While the concept of refinancing itself is rooted in interest-based loans, understanding the mechanisms can be insightful for general financial literacy.
• “How can negative equity affect my next car purchase?”: This article addresses a practical concern for vehicle owners. Negative equity occurs when a car is worth less than the amount owed on its loan. Understanding this concept is crucial for responsible vehicle ownership, whether or not one uses interest-based financing. A 2023 Edmunds report indicated that nearly 20% of new car trade-ins had negative equity, averaging over $5,000, which highlights the prevalence of this issue.
• “How do I determine how much my car is worth?”: This guide would likely point consumers to resources like Kelley Blue Book KBB or Edmunds to get an estimated trade-in or private party value for their vehicle. This information is universally useful for buying, selling, or understanding the asset value of a car.
• “How Do I Find the New Car That’s Best for Me?”: This resource would probably offer advice on vehicle research, matching a car to one’s needs, budget, and lifestyle. This is a common and essential step in any car purchase, irrespective of the financing method.
• “How do I repair my credit?”: This article would provide general tips on improving credit scores within the conventional system, such as checking credit reports for errors, paying bills on time, and reducing debt. While the emphasis is on the conventional credit system, the underlying principles of financial responsibility are universal.
• “COVID Recovery Resource Center”: This center provides general guidance on managing finances during a crisis, which could include tips on budgeting, seeking aid, or communicating with creditors. Such broad advice can be helpful for anyone navigating financial difficulties.

The Loan Calculator’s Utility

The integrated loan calculator on Lendward.com serves as a quick tool for conventional loan estimations.

While its output directly relates to interest-based calculations, it visually demonstrates the relationship between loan amount, term, interest rate, and monthly payments.

This can be an educational tool for understanding the mechanics of debt, even if one chooses to avoid it.

Users can see how even a small change in interest rate can significantly impact the total interest paid over a loan’s lifetime.

For instance, a $30,000 car loan at 3% interest over 5 years results in about $2,371 in total interest, while at 7% over the same term, it jumps to $5,626 in total interest.

Lendward.com vs. Sharia-Compliant Financial Institutions

Comparing Lendward.com to Sharia-compliant financial institutions highlights a fundamental divergence in philosophy, operational models, and ethical grounding.

It’s not merely a difference in product features but a clash of economic ideologies. Bs-holding.limited Review

Philosophical Foundations

• Lendward.com Conventional Model: Operates on the principle of capitalism where interest Riba is a legitimate component of financial transactions. Its goal is to generate profit through lending money and charging interest, facilitating transactions for individuals and businesses within this framework. The focus is on debt creation and risk transfer.
• Sharia-Compliant Institutions Islamic Finance: Grounded in Islamic economic principles derived from the Quran and Sunnah. The core tenets include:
  • Prohibition of Riba: No interest is charged or received.
  • Prohibition of Gharar Excessive Uncertainty/Speculation: Transactions must be clear and transparent.
  • Prohibition of Maysir Gambling: Avoiding transactions that are purely speculative.
  • Emphasis on Asset-Backed Transactions: Finance must be linked to tangible assets and productive economic activity.
  • Risk Sharing: Encourages profit and loss sharing rather than transferring all risk to the borrower.
  • Social Justice: Aims to promote equitable distribution of wealth and social responsibility.

Product Offerings and Structure

• Lendward.com’s Products:
  • Auto Loans/Refinancing: Conventional loans where the borrower pays principal plus interest.
  • Mortgage Services: Interest-bearing mortgages, HELOCs, reverse mortgages.
  • Personal Loans: Unsecured or secured loans with interest.
  • Insurance/Warranty: Conventional insurance models which may involve interest in their investment portfolios.
• Sharia-Compliant Products e.g., Guidance Residential, Lariba Bank, MPAC Solutions:
  • Murabaha Cost-Plus Sale: The institution buys the asset car, house and sells it to the client at a pre-agreed profit margin, paid in installments. This is a sale contract, not an interest-bearing loan. This is the most common model for auto and home financing.
  • Ijarah Lease-to-Own: The institution leases the asset to the client, with ownership eventually transferring. Payments are rental fees, not interest.
  • Musharakah Mutanaqisah Diminishing Partnership: The institution and client co-own an asset, with the client gradually buying out the institution’s share while paying rent for the portion owned by the institution. Common for home financing.
  • Sukuk Islamic Bonds: Asset-backed securities that generate returns from specific projects or assets, structured to avoid interest.
  • Takaful Islamic Insurance: A cooperative system where members contribute to a fund for mutual assistance, avoiding interest and excessive uncertainty.

Transparency and Risk Management

• Lendward.com: Transparency typically revolves around disclosing interest rates, fees, and loan terms. Risk is primarily managed through credit scoring like FICO and collateral requirements, aiming to minimize default risk for the lender.
• Sharia-Compliant Institutions: Emphasize transparency of contracts, ensuring all parties fully understand the terms e.g., profit margin in Murabaha. Risk is shared between the parties in profit-loss sharing models Musharakah, Mudarabah, fostering a more equitable relationship. Due diligence on the underlying assets is critical.

Impact and Outcome

• Lendward.com: Facilitates conventional credit and debt, which can lead to high interest payments and potential debt traps for borrowers, as highlighted by the trillions in credit card and mortgage debt in the U.S.
• Sharia-Compliant Institutions: Aims to promote economic justice, discourage excessive debt, and encourage real economic activity. By avoiding interest, they seek to create a financial system that is more resilient to speculative bubbles and fosters social welfare. While the market share is smaller, Islamic finance is growing at 10-15% annually in many regions, demonstrating increasing demand for ethical alternatives.

In essence, while Lendward.com efficiently provides conventional financial services, Sharia-compliant institutions offer an entirely different paradigm, prioritizing ethical principles and social responsibility over the conventional interest-based model.

For those committed to Islamic teachings, the choice is clear: prioritize the alternatives that align with divine guidance, even if they require more effort to find.

FAQ

What is Lendward.com?

Lendward.com is an online platform that provides various financial services, including auto loans new, used, refinancing, private party, mortgage services purchase, refinance, HELOC, etc., personal loans, credit services Experian Boost, and insurance/warranty services.

Is Lendward.com a legitimate website?

Yes, based on information provided on its homepage, Lendward.com appears to be a legitimate website offering financial services, with listed contact information, business hours, and legal disclaimers.

Does Lendward.com offer Sharia-compliant financial products?

No, Lendward.com explicitly offers interest-based loans and refinancing options, which are not Sharia-compliant due to the prohibition of Riba interest in Islamic finance.

What types of auto loans does Lendward.com offer?

Lendward.com offers new and used car loans, auto refinancing, and private party auto loans.

What mortgage services are available through Lendward.com?

They offer mortgage services for purchase, refinance, HELOC Home Equity Line of Credit, Non-QM Non-Qualified Mortgage, Reverse Mortgage, and Hard/Private Money loans.

How does Lendward.com’s loan application process work?

The process involves an online application submission, a follow-up call from a representative, scheduling an appointment, and then securing a competitive loan.

What is a FICO score according to Lendward.com’s resources?

Lendward.com provides a resource article explaining what a FICO score is, which is a common credit scoring model used by lenders to assess creditworthiness in conventional finance.

Can I repair my credit with help from Lendward.com?

Lendward.com’s “Resources” section includes an article on “How do I repair my credit?”, likely offering general advice on improving credit scores within the conventional credit system. Rakutenxk.com Review

Does Lendward.com have a loan calculator?

Yes, Lendward.com features an interactive loan calculator on its homepage where users can input loan amount, term, and interest rate to estimate monthly payments, total principal, and total interest.

What is the advertised lowest interest rate on Lendward.com?

The website states that for a limited time, users may qualify for a new loan or refinance from Lendward at an interest rate as low as 2.99% with approved credit.

Where is Lendward.com located?

Lendward.com lists its physical address as 20251 SW Acacia Street, Newport Beach, CA 92660.

What are Lendward.com’s business hours?

Lendward.com’s business hours are Monday-Friday: 7:00 am to 7:00 pm, and Saturday-Sunday: CLOSED.

Does Lendward.com offer personal loans?

Yes, Lendward.com lists “Personal Loan Services” among its offerings.

How can I contact Lendward.com?

You can contact Lendward.com via phone at 800.391.9310 or through their email address listed on the contact section of their website.

Does Lendward.com offer insurance services?

Yes, Lendward.com offers insurance services, specifically mentioning Experian Auto Insurance, which allows users to compare quotes.

What is Experian Boost® mentioned on Lendward.com?

Experian Boost® is a service offered through Experian that allows users to potentially improve their credit score by including positive payment histories for bills like utilities and telecom.

Is there a section for “Lendward complaints BBB” on their website?

No, the Lendward.com homepage does not directly feature a section or link specifically for “Lendward complaints BBB” or direct customer complaint channels from third-party sites like the Better Business Bureau. However, it does link to Trustpilot.

Are there any ethical alternatives to Lendward.com’s services for Muslims?

Yes, ethical and Sharia-compliant alternatives exist, such as Guidance Residential for home financing Murabaha/Ijarah, MPAC Solutions for auto financing Murabaha, and Amana Mutual Funds/Wahed Invest for ethical investments, all of which avoid interest Riba. Nielsen.com Review

Why is interest Riba forbidden in Islam?

Interest Riba is forbidden in Islam because it is seen as an exploitative practice that generates wealth from money itself rather than from productive economic activity, contributing to social injustice, wealth concentration, and economic instability.

Does Lendward.com offer services in Spanish?

Yes, Lendward.com indicates the availability of its page in Spanish with options like “¿Quieres ver esta página en español?” and “Ver en español.”