RefiJet Reviews

Qualification Requirements

RefiJet’s qualification requirements are designed to accommodate many customers seeking to refinance their auto or motorcycle loans. Here are the key qualification criteria:

1. Credit Score: RefiJet typically works with customers with a credit score of at least 580. This threshold indicates a degree of flexibility, catering to those who may not have high credit scores.
2. Income Requirements: While specific income requirements are not detailed in the sources, RefiJet adheres to industry-standard income requirements. This means that applicants will likely need to demonstrate a stable income sufficient to cover their loan obligations.
3. Vehicle Eligibility:
   • Mileage Limit: Vehicles must have less than 150,000 miles. This criterion ensures that the refinanced vehicles are not excessively used, which can affect their value and the risk associated with the loan.
   • Car Age: Vehicles must be no more than 10 years old (by model year). This requirement is in place because older vehicles are typically more difficult to finance due to their depreciated value.
   • Car Makes: RefiJet is open to refinancing loans for any vehicle made, as long as the vehicle is for private use. This broad make eligibility allows a wide range of customers to apply for refinancing.
   • Loan Specifics: While detailed specifics about the loan, such as minimum or maximum loan amounts, are not explicitly stated, RefiJet offers flexibility in terms of rate, term, monthly payment amount, amount financed, cash-out options, Guaranteed Asset Protection, and Extended Service Contracts.
4. Usage of Vehicle: The vehicle to be refinanced should be for private use. This stipulation is common in auto loan refinancing, as the risk and terms for commercial vehicles differ significantly from personal use vehicles.
5. Residency: Applicants usually need to be residents of the United States, but specific state availability might vary.
6. Documentation: Standard documentation for loan refinancing applications typically includes proof of income, identity verification, current loan details, and vehicle information.