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Auto Loans

RateGenius Auto Refinance Review

Best for comparison shopping

4.9 /5
LendEDU Rating
Auto loan refinance
  • Works with over 150 lenders, so you can view multiple rate quotes
  • No application fee
  • Allows lease buyouts
  • Helps with lease buyouts
  • Additional vehicle protections available
  • Vehicle restrictions
  • Loan size limits
Rates (APR)4.67% – 13.35%
Loan amounts$10,250 – $100,000
Repayment terms24 – 72 months

RateGenius stands out as a terrific option for refinancing your car. It’s perfect if you want to shop for lenders. The website makes refinancing easy with a three-step process, and products such as GAP and vehicle service contracts give added protection.

About RateGenius

RateGenius helps you refinance your auto loan to—ideally—save money. In business since 1999, RateGenius works with over 150 lenders across the country to offer you financing options that fit your needs. If you’re looking to shrink your monthly payments, lower your interest rates, or change your loan terms, RateGenius might be the solution for you. 

RateGenius keeps the process simple and clear. Its online or over-the-phone application is part of a three-step process that customers praise. Check out what RateGenius has in store, along with how to upgrade your auto loan. 

Our take on RateGenius auto loan refinance

With an extensive network to provide the best deals nationwide, RateGenius is our top pick to comparison shop for your auto loan refinance. According to its website, on average, customers save $101 per month on auto refinancing with RateGenius. Rather than working with big banks, RateGenius partners with credit unions, which can have lower rates and comprise most of its lender network. 

Refinancing with RateGenius could lower your interest rates and shorten your loan terms, saving you money and helping you pay off your vehicle faster. Qualifying depends on factors including proof of income, your car, and the current term left on your auto loan.

RateGenius takes a personalized approach and considers these factors to develop the best finance plan for you, making it a solid choice if you’re interested in better loan terms. RateGenius’ Loan Finder tool asks five basic questions and matches you with auto refinance offers available in your area without requiring a commitment. 

Rates, terms, and more

RateGenius stands out for its transparency in auto refinance rates and vehicle qualification requirements. You have a solid chance at qualifying if your vehicle is under 12 years old, under 120,000 miles, and funded at least one month ago. Here’s more about RateGenius: 

Rates (APR)4.67% – 13.35%
Loan amounts$10,250 – $100,000
Repayment terms24 – 72 months
AvailabilityAll 50 states
FeesNo application fees
Unique featuresAccess to a wide network of over 150 lenders
Loan Finder tool

How do you repay an auto refinance loan from RateGenius?

The length of your repayment affects the cost of your loan. RateGenius offers a wide range of repayment options to customize your next loan. Once you’ve found a deal that’s right for you, RateGenius provides repayment options of 24 to 72 months

By choosing a longer term, you will pay more interest over time. Shorter monthly terms mean higher monthly payments but less interest overall. With RateGenius, you can customize your refinancing plan and find the sweet spot between monthly costs and total loan costs.

Who’s eligible for RateGenius auto loan refinance?

RateGenius will refinance your auto loan if you meet certain credit, income, and car-related criteria. Here’s a breakdown of the requirements.

Minimum credit score550
Minimum income$24,000 per year
Vehicle age12 years or newer
MileageLess than 120,000 miles
Loan balanceMinimum of $10,250
Remaining loan termAt least 24 months
Co-applicant allowed?
Maximum LTV 125%

Pros and cons of RateGenius’s auto refinance loans

If you’re considering refinancing your auto loan, it’s important to weigh the pros and cons of the lenders you will pick. 

RateGenius has many lenders in its network that could meet your needs, but it might not be perfect for everyone. Have a look at the benefits and drawbacks of getting an auto refinance loan through RateGenius: 


  • Shop lenders

    RateGenius works with over 150 lenders, giving you a better shot at scoring a refinancing deal that fits your situation. With so many options, lenders are competing for your business, which could lead to lower interest rates.

  • No application fee:

    RateGenius does not charge an application fee, which is an excellent way to keep your initial costs low.

  • Lease buyouts

    If you want to purchase your vehicle at the end of your lease, RateGenius can help you submit an application to buy out the lease.

  • Vehicle protection

    RateGenius also offers GAP waivers and vehicle service contracts, which allow you to add extra protection for your vehicle.


  • Vehicle restrictions

    RateGenius only refinances personal-use cars that are less than 12 years old and have less than 120,000 miles. This excludes many people with commercial, business, or high-mileage vehicles.

  • Limited by loan size

    The current loan needs to have at least $10,250 and 24 months left on it. This rule excludes people with smaller loan amounts.

  • Impact on your credit score

    The final application with RateGenius requires a hard credit check. This could lower your credit score by a few points.

If you’re unsure whether RateGenius is right for you, check out our guide to the best auto loan refinance companies and our full list of auto loan lenders we’ve reviewed. 

LightStream, our top lender for no fees, offers auto loans, loans for old or high-mileage cars, and refinancing. Plus, it promises to beat competitor rates by 0.10% if you meet its conditions. You don’t need collateral for a LightStream loan, but you’ll need good to excellent credit to qualify. 

How do I apply with RateGenius?

You can apply for auto loan refinancing with RateGenius in three easy steps. The process, from start to funding, usually takes about a week. Here’s how to proceed:

  1. Apply online: To begin, fill out a quick online form on the RateGenius website. You’ll share your contact information along with details about your car (make, model, vehicle identification number, and mileage), and your current car loan (name of current lender and monthly payment). It only takes a few minutes to complete.
  2. Choose the best offer: After your application checks out, RateGenius will connect you with the best offers from its network of over 150 lenders. RateGenius provides comparisons for interest rates and monthly payments. This process takes about 24 to 48 hours, depending on the lenders’ response times.
  3. Finalize your loan: Once you select an offer, you will finalize your loan by reviewing the documentation and signing the loan agreement. You can do this online on RateGenius’ secure customer dashboard. Afterward, RateGenius pays off the balance of your old auto loan, transfers the title to your new lender, and transitions you to your new lender.

How we rated RateGenius

We designed LendEDU’s editorial rating system to help consumers identify companies that offer the best financial products. Our experts spend hours researching these companies each year to ensure our ratings are fresh and accurate.

Our most recent evaluation compared RateGenius to several auto lenders across a number of factors, including rates, fees, transparency, and customer experience. We weighted, scored, and combined these factors to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. We round all ratings to the nearest tenth decimal place.

ProductLendEDU rating (out of 5)More information
RateGenius auto refinance4.9 Comparison shop