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RateGenius auto loan refinance review

Connect with a network of over 150 lenders to refinance your car loan.’s rating: 4.0 / 5.0


Your car loan might have come with a good rate at the time you applied, but that doesn’t mean it’s the best you can get now. If you’ve improved your overall credit or have a bigger budget today, RateGenius can potentially connect you with lenders willing to lower your monthly payments.

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Min. Loan Amount

2.99% (as low as)



Min. Loan Amount$10,000
APR2.99% (as low as)
Interest Rate TypeVariable
RequirementsIncome of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
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  • Best for: Comparing a wide range of offers for average and good credit

First, do I qualify?

To apply with RateGenius, you’ll need to meet requirements that include:

  • Minimum credit of 510
  • Be 18 years or older
  • An outstanding loan balance of at least $10,000
  • A vehicle with fewer than 150,000 miles
  • A vehicle that’s no older than 10 model years
  • Household income of at least $2,000 monthly

What makes RateGenius unique?

RateGenius is a highly rated network of more than 150 lenders across the US. Its affiliate lenders offer highly competitive rates, and you can refinance nearly any vehicle, including motorcycles and boats. Provided you meet RateGenius’s minimum eligibility requirements, you can apply for a connection with multiple lenders to lower your monthly car payments.

How does refinancing through RateGenius work?

RateGenius isn’t a direct lender. The application you complete online is shared with multiple lenders in RateGenius’s affiliate network, often within 24 to 48 hours. If you’re connected with a lender, you complete the application on its site.

Using RateGenius as an intermediary can result in multiple options from just one application. RateGenius also transfers your title and takes care of paying off your previous loan, saving you time and money. It wraps up extra charges for title transfers by your former lender and your state into your total loan amount.

What rates can I expect with RateGenius?

RateGenius’s partners offer APRs of 2.99% (as low as). However, you need to have near-perfect credit, a high income and a relatively new vehicle with minimal miles to qualify for the lowest rate.

What are the benefits of refinancing with RateGenius?

  • Variety of lenders. RateGenius works with more than 150 lenders to connect you with refinancing that fits your budget and needs.
  • Potentially lower payment. With so many lenders in RateGenius’s network, you may find one willing to extend your loan term or lower your interest rate, saving you money over the life of your loan.
  • Less paperwork. After you sign on the dotted line, RateGenius pays off your old loan, transfers the title to your new lender and helps you get started on your refinanced loan.

What to watch out for

  • Not a direct lender. RateGenius is a connection service of affiliate lenders it works with to finance your loan, which means you’ll end up repaying another lender.
  • May not save you money. Refinancing your vehicle loan doesn’t always save you money. Carefully consider whether any lower interest rate or shorter loan term actually reduces the amount you’re paying before signing a new loan contract.
  • Requires hard credit check. RateGenius conducts a hard pull on your credit when you apply, which can temporarily lower your credit score.

The few negative reviews on RateGenius’ Better Business Bureau profile complain about its affiliated insurance broker — specifically the high cost and short refund period of gap insurance. Positive reviews say that the service is fast and easy, including title transfers to the new lender.

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Name Product Filter Values Minimum credit score APR Loan term Requirements
No minimum credit score
3.9% to 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies
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3.99% to 35.99%
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Starting at 2.15%
550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old
Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.

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RateGenius reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 4.6 out of 5 stars, based on 566 customer reviews
BBB customer complaints 81 customer complaints
Trustpilot Score 3.9 out of 5 stars, based on 3,755 customer reviews
Customer reviews verified as of 16 October 2020

How do I apply?

Applying to refinance your existing auto loan through RateGenius takes 15 minutes:

  1. Visit RateGenius’s site and click Apply today.
  2. Select vehicle refinancing and indicate your vehicle type.
  3. Enter your vehicle’s mileage, make and model.
  4. Enter the name of the current lien holder, your monthly payment amount and the loan’s original term.
  5. Complete your personal information, including your address, phone number and email.
  6. Provide information about your current residence.
  7. Provide your employment information and your coapplicant’s information, if applicable.
  8. Enter your Social Security number, date of birth and agree to the Electronic Document Policy.

After you submit your application, you’re redirected to a new page that lists your application ID number. Processing generally takes 24 to 48 hours, after which your application is sent to one of RateGenius’s many affiliate lenders.

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What documents will I need?

RateGenius doesn’t require many documents to get you started, but you’ll want to have on hand:

  • Promo code. If you’ve received a promo code from RateGenius, use it to speed up your application and even save some money.
  • Your vehicle info. You’ll need to provide your vehicle’s VIN, make, model and year to fully complete your application.
  • Current loan info. RateGenius needs the current lien holder for your vehicle and the amount you pay monthly.

I’m matched with a lender. What’s next?

RateGenius doesn’t finance auto loans to purchase a car. Instead, it matches you with a lender offering refinancing that suits the needs you specify in your application.

You’ll finalize your new loan and start repayments with your new lender. Carefully read the terms of your new loan agreement to learn exactly how much you need to pay each month and your ultimate payoff date.

What other features and services does RateGenius offer?

In addition to auto loan refinancing, you can also take advantage of the following services:

  • Savings calculator. Find out how much you might save by refinancing without having to fill out a preapplication form.
  • Glossary. Look up terms you’re unfamiliar with to make sure you know what you’re signing on to.
  • Expert advice. Read articles to get tips on refinancing to make the most out of your new car loan.

Bottom line

With lots of positive reviews, RateGenius is a highly rated way to search for auto refinancing. With a quick application, you can browse potential offers to find a lender offering a low interest rate or extended term to make paying down your debt that much easier.

Not interested in a connection service? Browse our list of auto loan lenders to find a direct way to refinance your car loan.

Frequently asked questions

Loan ratings

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★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.

Read the full methodology of how we rate loan providers.

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