RateGenius Review
9
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RateGenius Reviews

9
Bob Phillips

WRITTEN BY

Bob Phillips

Experts in Refinancing Cars, Trucks, and SUVs
Experts in Refinancing Cars, Trucks, and SUVs
About RateGenius

RateGenius was founded in Austin, Texas, in 1999 with the goal of impacting the financial lives of its customers. The company connects consumers with lenders to refinance their auto loans and reduce monthly expenses. They do this through their network of over 150 lending institutions nationwide.

RateGenius has made the auto refinance process quick and easy. They have one of the largest lending networks and are known for providing exceptional customer service. This has helped them become the largest refinance provider in the U.S.

9.0

LS SCORE

9.2

CREDIBILITY

8.4

SUPPORT

9.2

ACCESSIBILITY

RateGenius Auto Loans Review

RateGenius provides refinancing loans at competitive interest rates. They do not fund loans but connect potential borrowers with their network of over 150 lenders.

RateGenius Auto Loans Highlights

LOAN REPAYMENT TERM

36-84 months

MIN CREDIT SCORE

500

FUNDING TIME

1 days

ORIGINATION FEE

None

PREPAYMENT FEE

None

OTHER FEES

None

MAX VEHICLE AGE

10 years

SOFT CREDIT PULL

Yes

LENDER TYPE

Marketplace

Auto Loans Types

  • Auto Refinance Loans
  • Cash-out Refinance Loans

Vehicle Types

  • Car
  • Truck

RateGenius Refinance Highlights

REFINANCE AMOUNT

$100,000

REFINANCE APR FIXED RATE

Min 2.00%

Pros & Cons

  • Soft credit pull
  • Can apply with co-applicant
  • Applicants can apply online
  • Doesn't offer new car loans
  • High interest rate for poor credit

RateGenius Auto Loans Terms & Requirements

RateGenius only offers vehicle refinancing. Vehicles cannot be older than ten model years and must have under 120,000 miles. RateGenius’s terms and requirements are industry standard and acceptable.

Applying to RateGenius

Applying for a vehicle loan through RateGenius is fast and easy. A Social Security number is not required for prequalification.

Lendstart - Applying to RateGenius Car refinancing loan, step 1
Step 1

Vehicle year

After submitting information, a confirmation code is sent to the applicant, who then provides it to RateGenius. Upon receipt, RateGenius provides quotes from lenders matched with the borrower.

Qualification Requirements

  • Minimum FICO credit score: 500.
  • Minimum age: 18
  • U.S. resident
  • At least 24 months left on the existing auto loan
  • The loan has been in place for at least one month

Required Information

Will vary by lender but may include:

  • Proof of address
  • Last pay stub to verify income
  • Driver’s license
  • Banking information
  • Auto insurance information
  • Copy of vehicle registration

Application Steps & Time Frames

  • Complete application (5 minutes)
  • Wait for approval or decline (usually under 5 minutes)
  • Receive funding (usually 1-32business days, depending on the lender)

State Availability

Available in all states

Customer Support

RateGenius does not offer customer support after a loan is funded. Borrowers must seek service for their account directly from the lender who made the loan. However, RateGenius does have a toll-free phone number for inbound callers seeking sales support and needing questions answered before applying.

Phone Support
(866) 728-3436
Mon - Fri
7:00 AM - 8:00 PM
Saturday
9:00 AM - 5:00 PM
Sunday
Closed

In Conclusion

RateGenius is a reputable company with an A+ rating from the Better Business Bureau (BBB). It provides quotes from different lenders within minutes of when someone submits an application, and funding is typically made within 24-48 hours. The company has excellent online reviews, with a TrustPilot rating of 4.7 out of 5 stars based on over 3,900 reviews.

FAQ

Does RateGenius do a soft credit pull?
RateGenius will perform a soft credit pull that doesn’t affect your credit score to determine if you can be prequalified for any offers. However, submitting an application to get quotes from lenders will result in a hard credit pull, which can negatively impact your credit score.
Does RateGenius only refinance cars?
RateGenius specializes in refinancing cars, trucks, and SUVs with a minimum loan balance of at least $10,250.
Is there a charge to refinance my auto with RateGenius?
In some cases, there will be prepaid finance charges associated with your loan. The amount of these fees vary depending on your lender and the state in which you live. Additionally, RateGenius may collect a small fee on behalf of your state’s DMV to process the title on your behalf.
Disclosure

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WRITTEN BY

Bob Phillips

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.