Compare 5 Providers for New and Used Auto Loans
Dec. 27, 2024
The Top 5 Companies For Auto Refinancing
Dec. 27, 2024
How to Buy a Car Online: From Start to Finish
Dec. 27, 2024
This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which may impact the location and order in which brands (and/or their products) are presented, and may also impact the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.
RateGenius is a nationwide marketplace for refinancing your existing auto loan. The company accepts anyone with a credit score of 550 or above and you can be pre-approved for a loan within minutes of applying online. Individuals with good credit scores (above 720) can be offered interest rates as low as Varies. RateGenius conducts a hard credit check, so it’s only suitable for serious refinancing inquiries.
RateGenius helps you lower your monthly auto loan payments by refinancing at a lower interest rate. The company reserves its most favorable interest rates for borrowers with excellent credit. In addition, since RateGenius conducts a hard credit check, you should only use this marketplace if you are serious about refinancing your auto loan.
Austin, Texas-based RateGenius was founded in 1999 to help customers refinance their auto loans. The company has a nationwide marketplace of more than 150 direct lenders. RateGenius also offers gap waivers and service contracts when you refinance.
You can apply to refinance your existing auto loan through RateGenius online or over the phone. It typically only takes a few minutes to fill out the application with information about your current loan and your vehicle.
RateGenius then conducts a hard credit check and searches for pre-approved offers from lenders in its network. Note that a hard credit check can affect your credit score, so you should only submit an application if you are seriously interested in refinancing your auto loan.
Once you’re pre-approved for a loan, RateGenius will get in touch by phone or email. This typically takes less than 48 hours.
Your new loan documents will be available for signing online through the company’s secure portal, or you can request to receive a physical copy in the mail to sign and return. RateGenius then helps you through the process of paying off your old loan and transitioning you to your new lender, which can take up to a few days.
It’s important to note that RateGenius does have some limitations on who can qualify for a refinanced auto loan. You must have a credit score of 550 or greater, and your vehicle must be under seven years old and have fewer than 100,000 miles.
RateGenius isn’t a direct lender, but rather a marketplace. So, the terms of your auto loan will depend on the network partner you’re matched with. All loan offers from RateGenius are pre-approved and the company will help you fill out your prospective lender’s required paperwork. Interest rates and loan terms vary based on your credit score, loan amount, and the specific lender you are matched with. Note that you must refinance at least $10,000 with RateGenius (refinancing is available up to $100,000).
RateGenius has been around for over 20 years and is generally considered a safe option for loan refinancing. RateGenius has completed more than 378,000 auto loans over its history and claims that it saves borrowers an average of $83 every month on their payments.
The company has an A-rating with the Better Business Bureau and an average 4.5-star rating over more than 2,700 Google reviews. RateGenius benefits when you’re happy with your refinanced loan, so your interests and the company’s are aligned.
RateGenius keeps all of your personal information private and doesn’t share it with lenders who don’t make an offer on your loan application. You can opt to sign loan documents through the company’s secure online portal or send physical documents back and forth using UPS.
Repayment plans are negotiated with your direct lender, not with RateGenius. Most loans require a monthly payment for between 36 and 84 months. There is never a prepayment penalty for auto loans refinanced through RateGenius.
RateGenius customer support is available by phone, email, or live chat during weekday business hours (US Central Time). The company’s support agents are extremely helpful if you are having trouble finding information for a loan application or need a hand filling out your prospective lender’s paperwork.
Phone: 866-728-3436
Email: hello@rategenius.com
RateGenius, Inc.
9300 United Drive, Ste 180
Austin, Texas 78758
RateGenius is a trustworthy auto loan refinancing marketplace where you can instantly get offers from a nationwide network of more than 150 lenders. This company is particularly attractive because it offers competitive interest rates as low as Varies. RateGenius also stands out for its customer service—support agents walk you through the transition to a new lender rather than leaving you to fend for yourself. The only downside to RateGenius is that it requires a hard credit check, but this shouldn’t be a problem if you’re serious about refinancing your existing loan.
To compare more financial products and read more guides and reviews, visit BestMoney
