At a glance

- Availability
- Affordability
- Customer Experience
- Transparency
About Caribou
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Loan amount
Not specified
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Min. credit score
Varies by lender
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APR from
4.99% to 36.00%
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Funds available in
Varies by lender
Loan amount
Not specified
Min. credit score
Varies by lender
APR from
4.99% to 36.00%
Funds available in
Varies by lender
Consider these benefits and drawbacks of refinancing your auto loan with Caribou before signing off on an application.
Ease of refinance and insurance bundling
Ability to compare rates
Prequalification offered
Limited availability
Potential processing fee
Caribou does not disclose specific requirements when it comes to income or credit, but you can expect a soft credit pull that will not affect your credit score when you prequalify. But if you do choose a loan and follow through with an application the process will include a hard credit pull.
While requirements are not disclosed according to Bennett, “… many people have seen their credit scores improve after purchasing their car and want access to better rates, others have always had good credit but walked off the car lot paying more than they should have.”
Regarding vehicle requirements, it should have positive equity and no more than 120,000 miles — some lenders in Caribou’s network accept vehicles with as many as 200,000 miles. Cars, trucks, SUVs and other passenger vehicles are eligible for refinancing, but they must not be used for commercial purposes.
Consider these benefits and drawbacks of an auto loan with Caribou before signing off on an application.
Caribou offers excellent customer service. Its easy-to-use website offers a chat feature along with account management and the ability to ask questions over the phone, by email or by appointment. Caribou offers drivers the ease and convenience of a fully online experience with the comfort of person-to-person communication.
Drivers with specific questions regarding their loan can reach out for help from team members Monday through Friday from 9 a.m. to 8 p.m. ET and Saturday and Sunday from 9 a.m. to 4 p.m. ET.
Through its lender partnerships, drivers can improve their current loan while also shopping for other add-on products, including extended protection, cosmetic care and key replacement services. Terms and loan amounts vary by lender.
To apply for a loan with Caribou, head to its website and input basic information about yourself and the details of your vehicle and current loan.
Overall score | 3.7 | |
---|---|---|
Availability | 3.8 | Caribou doesn’t have vehicle restrictions listed, and is available in most states. But it doesn’t provide the loan amounts available. |
Affordability | 3.4 | Since it goes through a network of lenders, Caribou does not disclose a complete list of interest rates or minimum requirements. |
Customer experience | 3.8 | Caribou has online access and customer service hours seven days a week. |
Transparency | 5 | Caribou offers prequalification so you can check your rates without damaging your credit score. |
To rate lenders that specialize in auto refinance loans, Bankrate considers 16 different factors. These factors range in consideration from the loan amount, disclosed APR and acceptance criteria. Each lender holds a score based on four categories.