RateGenius Auto Refinance Loan Review 2025

Loan terms and requirements at RateGenius

Compare other auto refinancing lenders

About RateGenius: a closer look

RateGenius offers auto loan refinancing and makes it simple to shop multiple lenders with one application. Applicants receive the best refinancing offer among all lenders, as determined by RateGenius. Borrowers with vehicle equity may also be able to take advantage of cash-out auto refinancing and receive cash with a new refinance loan.

Because of its large network, RateGenius has lenders that work with borrowers of all credit types, including those with a low credit score and no credit history. However, a borrower with fair or bad credit is likely to receive a higher interest rate than those with good or excellent credit.

When reviewing and rating auto loan aggregators, NerdWallet writers gather information about customer experience, transparency, loan affordability, loan requirements and flexibility. RateGenius scores high for flexible loan requirements, and we like their transparency of providing interest rates on their website.

Do you qualify for RateGenius auto refinance loan?

Here are RateGenius's borrower requirements to qualify for an auto refinancing loan. Because RateGenius works with many different lenders, some requirements shown are the lowest and highest among all lending partners. Meeting these requirements doesn’t guarantee approval. Also, some lenders may be more flexible with requirements when taking into account an applicant's total financial picture.

Other RateGenius details

• Pre-qualification and preapproval. The company says not all lending partners offer pre-qualification with a soft credit check, but more than half of applicants are able to get pre-qualified offers. Lenders that don't offer pre-qualification may use a hard credit inquiry which can temporarily lower your credit scores.

• Upfront fees. RateGenius doesn't charge an upfront fee itself, but more than half of borrowers may pay lender processing fees in various amounts up to $450. These fees may be financed as part of the loan amount.

• Interest rate discounts. More than half of RateGenius's lending partners offer an APR discount (.25% up to .50%) when a borrower sets up automatic payments.

• Refinancing time restrictions. RateGenius will refinance as soon as the previous loan's paperwork is complete and the title can be transferred. It doesn't require a certain balance or number of months remaining on the previous loan.

• Deferred payments. RateGenius has lending partners that offer deferred payments for 60 or 90 days.

• Contacting RateGenius. During the application process, borrowers can reach RateGenius by phone, email, text and website form, with Spanish-speaking agents available. Hours are Mon-Sat 8 a.m.-6 p.m., CT. We tested the "text us" option on the RateGenius website and received an automated response immediately, followed by a human response in minutes.

Back to About RateGenius

RateGenius may be a good fit for those who:

• Need more flexible loan requirements. The RateGenius network includes lenders that work with borrowers of all credit types. Applicants with a low credit score, no credit history or past bankruptcy may be able to qualify, but they should expect a higher interest rate.

• Want upfront rate estimates. RateGenius is one of the few aggregators that provides a chart of auto refinance rates, broken down by credit scores and loan terms, on its website.

• Want cash back with an auto refinance loan. RateGenius offers cash-out auto refinancing, meaning you can borrow extra money against the equity in your vehicle and roll that amount into your refinance loan. Cash-out refinancing may be a way to pay off higher-interest-rate debt, but it can also have risks, such as owing more than your car is worth.

Before you apply to RateGenius

• Check your credit. You can get your free credit report on NerdWallet or at AnnualCreditReport.com. If you find errors, file a credit dispute to correct them before you apply for an auto loan.

• Figure what monthly payment you can afford. Use an auto loan calculator to determine what APR and repayment term you need to get monthly car payments that fit your budget. An auto loan refinance calculator shows how much you can potentially save.

• Gather your information. RateGenius requires the following to submit an initial auto loan refinancing application: address, time at address, phone, email, birthdate, employment status, employer name, income, housing status, housing payment amount, basic vehicle information. Providing your Social Security number or ITIN is optional.

How to apply for a RateGenius auto refinance loan

1. Apply on the RateGenius website. Use the “Apply Now” button from the home page and then select your goal for refinancing — such as lowering your payment or interest rate. You’ll be asked for information such as employment status, income, housing information and basic details about your current car. The RateGenius application lets you easily select a vehicle make, model and year, but it does not enable you to provide your VIN or license plate number to automatically pull information about your specific vehicle. RateGenius also has the option to apply by phone at 866-728-3436.

2. Review your loan offer. If you qualify and are matched to a lender, you will see an offer with estimated interest rate, monthly payment, loan term and total interest amount. After you accept the loan offer, an RateGenius representative will contact you to complete the application process.

An important note: According to RateGenius, more than half of its borrowers are able to receive pre-qualified loan offers based on a soft credit check, which means there is no effect on the applicant's credit scores until after they accept the offer. But be aware that some RateGenius lenders may do a hard credit check (which can temporarily lower your credit scores) before you accept a loan offer.

Back to About RateGenius

How do we review auto loan aggregators?

NerdWallet's review process surveys companies that offer any combination of new car purchase loans, used car purchase loans, auto refinance loans (traditional and/or cash-out) and lease buyout loans. These companies include direct lenders and aggregators; the latter group doesn't have in-house loan products but matches borrowers to third-party lenders within a network. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

Because aggregators are not the actual lender and servicing of the loan passes to the lender in most cases, NerdWallet focuses most heavily on the front end of the loan process. This includes level of service/support and transparency, with less focus on the actual loan product. In all, our survey for aggregators includes more than 60 data points. NerdWallet independently confirms product details and, when necessary, follows up with company representatives. At least two writers and an editor verify the facts for every lender review to ensure data are accurate.

To receive a star rating, an aggregator must respond to NerdWallet’s annual auto loans survey. Star ratings are then assessed from poor (one star) to excellent (five stars).

For more details about the categories considered when rating aggregators and our process, read our full methodology.