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RateGenius auto loans: 2025 review

Written by
Rebecca Betterton
Edited by
Kellye Guinan
Updated on December 18, 2024

At a glance

2025 Bankrate Awards Winner badge

RateGenius: Bankrate 2025 Award Winner Best For Auto Refinancing

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4.1
Rating: 4.1 stars out of 5
Bankrate Score
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Availability
Rating: 4.5 stars out of 5
4.5
Affordability
Rating: 3.4 stars out of 5
3.4
Customer Experience
Rating: 3.8 stars out of 5
3.8
Transparency
Rating: 4.5 stars out of 5
4.5

About Bankrate Score

Full methodology

Bankrate’s take

As a marketplace, RateGenius can help borrowers find a good deal on their auto loan and shop several different lenders with one application. It allows for co-applicants, and borrowers with less-than-perfect credit may still qualify.

Lender Details

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Loan amount

$8,000-$150,000

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APR from

Starting at 4.85%

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Min Credit Score

Not specified

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Funds available in

24-48 hours

RateGenius is best for comparing loan offers

Unlike traditional lenders, RateGenius is a loan marketplace. This means that it works with a network of different lenders and helps match borrowers with the best loan for their specific needs. Once you receive offers you can easily compare them side by side. This is ideal for a borrower who is unsure of what type of loan they can afford or are looking for. RateGenius will handle much of the heavy lifting with many of its partners even offering the ability to prequalify via a soft credit check.

Types of car loans that RateGenius offers

Lenders in the RateGenius marketplace offer refinance auto loans. If you want to purchase a new or used vehicle, it is best to compare additional auto loan rates.

Auto loan refinancing Lease buyout loans
APR Starting at 4.85% Starting at 4.85%
Loan amounts $8,000-$150,000 $8,000-$150,000
Loan terms 12-96 months 12-96 months

Auto loan refinancing

Refinancing your car loan through a lender in the RateGenius network could be a smart financial move for a few reasons. Refinancing could make sense if your monthly payment is too high or your credit score has improved, potentially qualifying you for a better interest rate. It is also ideal for borrowers who want to shorten their loan term to save on interest or remove someone from the current auto loan.

Lease buyout

The lenders in the RateGenius network offer lease buyout loans if you plan to keep your leased vehicle. You don’t necessarily have to wait until the lease is up to apply for financing. However, it could be more cost-effective to wait until the lease term ends to avoid penalties associated with ending your lease early.

Where RateGenius stands out

  • Perfect credit not required: The RateGenius network is extensive, and some lenders work with applicants with low credit scores.
  • Interest rates published online: You can find the current auto refinance rates by credit rating on the website, and the figures are updated daily.
  • Co-applicants permitted: If you’re unable to meet the lender’s income or credit requirements, you can include a co-applicant when you apply to strengthen your approval odds. 

Where RateGenius falls short

  • Unclear fees: Because RateGenius functions as a lender marketplace, you may be charged fees. Some lenders in the network, for example, assess prepaid finance charges and title processing fees.
  • Limited loan options: RateGenius only offers loans for auto loan refinancing. If you purchasing a new or used vehicle, you will have to shop elsewhere.
  • Loan and vehicle restrictions: Borrowers can only refinance cars, trucks, and SUVs with a minimum loan balance of at least $8,000, and the maximum amount is $150,000 — a smaller range than many rivals offer.

Customer resources 

Customer support 

Representatives are available by phone at 866-728-3436 or email at hello@rategenius.com to help you apply or address any questions you may have. RateGenius does not list its business hours on its website. While it does not offer a mobile app, you can receive live help through the online chat tool.  

Digital experience 

RateGenius functions as a fully online lender with an online presence to back it. The online application is simplified to focus on your intent for refinancing, which makes it easy to find the right lender. The lender does not have an app available for loan management. However, it is possible that your matched lender will have an app available for download.

How this lender compares

Before taking the next steps to refinance with RateGenius it is smart to compare other auto loan refinancing rates to ensure you get the best product for your needs.

RateGenius vs. Upstart

Upstart similarly offers borrowers the ability to refinance their vehicles from the comfort of home, though their qualification requirements differ. Upstart is a great option for those lacking a lengthy credit history as approval criteria include factors like employment rather than credit alone. Both lenders boast similar loan amounts.

RateGenius vs. LendingClub

Unlike RateGenius, LendingClub provides its own refinancing loans. Refinancing with RateGenius carries comparatively less stringent requirements comparatively. Borrowers with RateGenius, for example, must have a balance of at least $8,000, whereas LendingClub sets its minimum at $4,000.

Do you qualify for a RateGenius auto loan?

RateGenius isn't upfront about what you need to qualify to refinance — which means you won't know if you're eligible until you submit an application. At the minimum, you will need to have at least $8,000 remaining on your current auto loan. For more specific details, you will need to reach out to RateGenius.

If you plan to use a co-applicant, they must live in the same state as you and be present when you are applying for a loan.

How to get a RateGenius auto loan

Applying for an auto loan with RateGenius is easy, and it only takes 24 to 48 hours to complete the process and receive your funds.

  1. Apply: To get started, complete the online application or call RateGenius to apply by phone. You must provide your contact information, the name of your current lender, current monthly payment and vehicle information.
  2. Choose your loan: RateGenius will share your information with lenders in its network to determine if there is a potential match. If you choose to apply with a lender, submit a formal application and any required documents.
  3. Receive funds: Upon approval, the lender will send the loan documents electronically for you to review and sign or mail them to your doorstep in a pre-paid postage envelope. 

How Bankrate rates this lender

Overall score 4.1
Repayment options 4.5 RateGenius’s high minimum loan amount knocks an otherwise good availability score down.
Affordability 3.4 With 150 lenders on board, RateGenius can offer some leniency around qualification standards, though some charge fees.
Customer experience 3.8 A quick funding turnaround time helps boost RateGenius’s score.
Transparency 4.5 RateGenius allows prequalification but only publishes some fees.

 Methodology

Bankrate's trusted auto loans industry expertise

Read our full methodology

48

years in business

26

lenders reviewed

20

loan features weighed

520

data points collected

The Bankrate team uses a 20-point system to evaluate auto loan lenders across four main categories.

What people across the web are saying about RateGenius

RateGenius boasts a strong score on Trustpilot, 3.9 out of 5-stars. The 85 percent of people who gave the lender a perfect score commented on the attentive support staff and fast process.

Here is what one reviewer said about their experience:

“HUGE shout out to Tim Elliot with Rate Genius…He was very helpful, very available whenever I had questions, he was always kind, thorough with explaining the process and had everything done in less than 2 weeks! Because of him, we are currently working on refinancing our 2nd vehicle! 100% recommended. Sending Tim’s info to my daughter and Son-N-Law for their refinance! Great company, very pleased!”

— Trustpilot user

A less happy borrower shared frustration with the funding process not being directly online, as stated: 

“While the rategenius reps were great, the overall experience was not what it seemed. I chose to use rategenius for my recent auto refinance so I could do it online. However, in reality very little of it was actually completed online - not only were the rates and details all quoted over the phone, but the application itself had to be done all via mail. It was a pain to have to go back and forth to UPS to have to get this done. If I thought anything would need to be done in person, I would've just gone to my local credit union directly! Beware, they are not what they seem. 

— Trustpilot user

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