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RefiJet: 2022 Auto Loan Review

2022-05-24 07:45:00

At a glance

Rating: 3.5 stars out of 5

Bankrate Score

  • Availability
    Rating: 3 stars out of 5
  • Affordability
    Rating: 3.4 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 RefiJet

  • Moneybag

    Loan amount

    Not specified

  • Credit Good

    Min. credit score

    Varies by lender

  • Rates

    APR from

    Starting at 2.49%

  • Funds available in

    As soon as one business day following closing

Pros and cons of RefiJet auto loans

RefiJet auto loans can simplify how you shop for rates, but it’s not without its drawbacks. 


  • Checkmark

    View personalized quotes without hard credit check

  • Checkmark

    Payment-free period

  • Checkmark

    Pull equity out of your car

  • Checkmark

    Spanish version of website available


  • Close X

    Lender fees

  • Close X

    Full application not online

RefiJet is an auto refinancing company that caters to individuals seeking better terms on their auto loans and a simpler way to rate shop. While it is not a direct lender, you can use its prequalification tool to view quotes from lenders nationwide in RefiJet’s network. 

Pros and cons of RefiJet auto loans

RefiJet auto loans can simplify how you shop for rates, but it’s not without its drawbacks. 


  • View loan offers without affecting your credit score: RefiJet lets you view personalized rate quotes from lenders without a hard credit check.  
  • Payment-free period: Qualified borrowers enjoy a one-month hiatus from monthly auto loan payments.  
  • Pull equity out of your car: You can get cash back from the equity in your vehicle if you refinance your auto loan.  
  • Spanish version of the website available: You can translate the entire website to Spanish at the click of a button.


  • Lender fees: Some lenders assess loan origination fees that can be costly.
  • Full application not online: You will need to speak with a team member after submitting the initial online form to prequalify for financing.

Who is RefiJet best for?

RefiJet could work for you if you want to compare refinancing offers from several lenders without hurting your credit score. More specifically, it is a good fit for potential borrowers who prefer live assistance with their application, whether in English or Spanish.

Types of auto loans offered

Whether you want to refinance your current auto loan or buy out your lease, RefiJet has you covered. 

Auto loan refinancing

According to RefiJet, customers see an average reduction of $150 in their auto loan payment by extending the loan term, securing a lower interest rate or both. Others use RefiJet to remove a co-borrower from their current loan or pull equity out of their vehicle. 

Lease buyout loans

Would you prefer to keep your leased vehicle instead of turning it in and searching for a new ride? You can buy out your lease and avoid excess mileage or wear and tear fees. RefiJet helps you find a loan with a term and monthly payment that works for you. Plus, there is no prepayment penalty if you decide to pay the loan off early to avoid paying excessive interest. 

Interest rates and terms

If you have excellent credit, you could qualify for an interest rate as low as 2.49 percent for both its auto refinancing and lease buyout products. However, RefiJet does not publish information about loan terms on its website. 

How to apply for an auto loan with RefiJet

Visit RefiJet’s website to fill out an interest form, and a member of the team will reach out to you. Or you can call the toll-free number to speak with an auto refinancing expert if you have additional questions before getting started.

A financing expert will help you analyze your options and select the best fit if there is a match within its network. The next step is to finalize your loan application and upload any documents the lender requires to issue a final approval.

You will generally need these documents to apply:

  • A copy of your driver’s license and registration.
  • Proof of insurance.
  • Proof of income, such as recent pay stubs, W-2 or tax returns.
  • Proof of residency, such as a mortgage statement or lease, auto insurance bill or utility bill.

You are all set once you review the final loan documents and sign with the lender you are matched with.

Auto loan requirements

Here are the general guidelines you should meet to qualify:

  • Be at least 18 years of age.
  • Be employed or have a steady, verifiable source of income.
  • Be current on your auto loan payments.

The vehicle should be under 10 years old with no more than 150,000 miles. Recreational vehicles and motorcycles also qualify for refinancing.

Customer service

You can call the toll-free phone number on RefiJet’s website to speak with a customer service representative, send an email or submit an online inquiry form for further assistance. Despite requiring a phone call to continue the prequalification process, RefiJet does not list its customer service hours on its website.

How Bankrate rates RefiJet

Overall score 3.5  
Availability 3.0 RefiJet works with a variety of lenders, and doesn’t disclose a hard minimum or maximum loan amount. It also doesn’t list what states it’s available in.
Affordability 3.4 A low starting APR of 2.49 percent is a mark in its favor, but RefiJet doesn’t have a maximum APR specified, discounts or fees lenders might charge.
Customer experience 4.0 RefiJet doesn’t have an app available, nor does it provide its customer service hours, but it does have a quick funding timeline and its lenders offer recurring payments.
Transparency 4.5 You can prequalify with RefiJet and get quotes from several lenders, but complete rates and fees are not available on its website.
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
Rebecca Betterton
Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase a car.