Starting at 2.49%
|APR||Starting at 2.49%|
|Interest Rate Type||Fixed|
|Requirements||Employed or verifiable source of income, history of on-time car loan payments, valid driver's license, eligible car with insurance and registration|
Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for anyone to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise — and maintaining a Duolingo streak of over 1,300 days.
RefiJet is a connection service that helps borrowers find better deals on auto loans. While it offers a pretty standard service, the high volume of customer complaints may mean you should compare more options before using its service. However, RefiJet does offer individualized service throughout the refinancing process. This sets it apart — and may be helpful if you’re unfamiliar with how refinancing a car loan works.
- Payment deferral for the first two months
- Option to add or remove a cosigner
- Also offers lease buyouts and cashback refinancing
- Not up front about loan terms
- No FAQs on website
- Poor customer reviews
RefiJet reviews and complaints
|BBB customer reviews||1.76 out of 5 stars, based on 17 customer reviews|
|BBB customer complaints||27 customer complaints|
|Customer reviews verified as of||05 May 2021|
RefiJet receives largely negative reviews on its Better Business Bureau (BBB) page. Recent complaints and negative reviews state that customer service representatives were unhelpful, and many of the complaints state that they were lied to or misled about products.
How RefiJet compares to other providers
Before you submit your information, view more connection services and direct lenders.
RefiJet rates, fees and terms
RefiJet is a connection service that works with 13 lenders to help you find a competitive refinancing offer. Because of this, it isn't up front about the potential costs you might face. While interest rates start at 2.49%, they may be much higher.
Its partner lenders also offer loan terms up to 84 months. While this can significantly lower your monthly payment, carefully review any loan offer you receive.
To make the most out of refinancing, you should opt for a loan that lowers the total amount you'd pay in interest. Because long loan terms allow more interest to accrue, you may owe more by refinancing your car loan.
Since RefiJet is a connection service, the exact requirements you need to meet will depend on the lender you're connected with.
- History of on-time payments on current car loan
- Steady source of income
- Valid driver's license
- No bankruptcies
- Not a driver for a food delivery service
- Model is 10 years old or newer
- Full coverage insurance
- Current vehicle registration
How refinancing through RefiJet works
To be connected with a lender, you will need to submit a few personal details through RefiJet's website. This includes your date of birth, contact information and street address.
RefiJet says that it offers one-on-one help with the refinancing process. While this can be helpful, note that it does mean you may need to be in contact with customer service multiple times to finalize your information.
What sets it apart
RefiJet is a unique connection service. It allows you to delay the first two payments when you refinance. In addition, it also offers cash-out refinancing and lease buyouts — including on motorcycles and recreational vehicles.
But as far as the actual refinancing process goes, RefiJet is about average. It doesn't stand out, which can be a good thing if you want a simple way to switch lenders.
Is RefiJet legit?
This isn't uncommon for a connection service. Because it needs to share your personal information to find you a new lender, you should expect marketing calls and emails.
But there is no general way to opt out of having your information shared with its affiliates, except in California where this information must be provided by law. Alongside its negative customer reviews, you should compare other options before using RefiJet to refinance your auto loan.