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RateGenius: 2022 Auto Loan Refinancing Review

2022-05-24 10:00:00

At a glance

Rating: 3.6 stars out of 5

Bankrate Score

  • Availability
    Rating: 3.5 stars out of 5
  • Affordability
    Rating: 3.2 stars out of 5
  • Customer Experience
    Rating: 4 stars out of 5
  • Transparency
    Rating: 4.5 stars out of 5
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About RateGenius

  • Moneybag

    Loan amount

    $10,250 to $55,000

  • Credit Good

    Min. credit score

    Not Specified

  • Rates

    APR from

    Starting at 2.99%

  • Funds available in

    24 to 48 hours

RateGenius features

RateGenius can help you save a bundle on your auto loan or buy out your lease without doing a ton of legwork. However, there are also drawbacks to be mindful of before using the platform. 


  • Checkmark

    Perfect credit not required

  • Checkmark

    Interest rates published online

  • Checkmark

    Co-applicants permitted

  • Checkmark

    Available in all 50 states


  • Close X


  • Close X

    Limited loan options

RateGenius is an online platform that connects borrowers with lenders that offer auto refinancing. On average, it claims its users save $96 per month when refinancing their auto loan through RateGenius. There are over 150 lenders in the network, and you can have your information shopped around with no impact on your credit score. If there is a match and you decide to move forward, your application can be processed within 24 to 48 hours. 

Pros and cons of RateGenius auto loan refinancing

RateGenius can help you save a bundle on your auto loan or buy out your lease without doing a ton of legwork. However, there are also drawbacks to be mindful of before using the platform. 


  • Options for borrowers with less than perfect credit: 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.
  • Available in all 50 states: There are lenders available to serve you in all 50 states.


  • Fees: Some lenders in the RateGenius network assess prepaid finance charges and title processing fees.
  • Limited loan options: Auto purchase loans aren’t available through RateGenius. Borrowers are limited to refinancing and lease buyout loans.

Who is RateGenius best for?

RateGenius is best if you are looking to refinance your car loan without spending hours searching for the perfect lender. It is also ideal for individuals with lower credit scores who are having trouble getting approved elsewhere.

You can also use RateGenius to find a buyout loan with competitive terms if you are nearing the end of your lease term. But if you would prefer to buy out the lease before it expires, you may want to consider other options to find a lender who can assist. 

Types of auto loans offered

You can explore auto loan refinancing and lease buyout loan offers through RateGenius. 

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, and you potentially qualify for a better interest rate. It is also ideal for borrowers who want to shorten their loan term to pay off their car loan sooner than later and save on interest or remove someone from the current auto loan. 

Lease buyout loans

The lenders in the RateGenius network offer lease buyout loans if you plan to keep your leased vehicle. But you must wait until the lease is up to apply for financing. 

Interest rates and terms

Current auto refinance rates start at 2.99 percent for borrowers with high creditworthiness looking for a short term. Rates vary based on the amount borrowed, loan term and your credit. Terms range from 24 to 48 months.

How to apply for an auto loan with RateGenius

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. To get started, complete the online application or call RateGenius to apply by phone.

You will need to provide your contact information, the name of your current lender, current monthly payment and vehicle information.

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. 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.

Auto loan requirements

To qualify with RateGenius you must:

  • Be at least 18 years of age.
  • Have a loan balance between $10,250 and $55,000.
  • Have at least 24 months remaining on your loan term.
  • Have a steady source of income that’s deemed satisfactory by the lender.
  • Own a personal use vehicle that’s under 10 years old with less than 120,000 miles.

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. 

Customer service

Representatives are available by phone or email to help you apply by phone or address any questions you may have. Unfortunately, RateGenius does not list its business hours on its website. It also does not offer a mobile app or online chat currently.

How Bankrate rates RateGenius

Overall score 3.6  
Availability 3.5 RateGenius’s high minimum loan amount knocks an otherwise good availability score down.
Affordability 3.2 With 150 lenders on board, RateGenius can offer some leniency when it comes to qualification standards, but rates can be high.
Customer experience 4.0 A quick funding turnaround time helps boost RateGenius’s score.
Transparency 4.5 RateGenius allows prequalification, but only publishes starting rates and some fees.
Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
Written by
Allison Martin

Allison Martin’s work began over 10 years ago as a digital content strategist, and she’s since been published in several leading financial outlets, including The Wall Street Journal, MSN Money, MoneyTalksNews, Investopedia, Experian and