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RefiJet: 2023 auto loan review

2023-06-09 00:00:00

At a glance

Rating: 3.9 stars out of 5

Bankrate Score

  • Availability
    Rating: 3.5 stars out of 5
  • Affordability
    Rating: 3.4 stars out of 5
  • Customer Experience
    Rating: 3.4 stars out of 5
  • Transparency
    Rating: 4 stars out of 5
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About RefiJet

  • Moneybag

    Loan amount

    Varies by lender

  • Credit Good

    Min. credit score

    Not specified

  • Rates

    APR from


  • Funds available in

    As soon as one business day following closing

RefiJet auto loans are best for customer support 

Refinancing your vehicle can be overwhelming. It is important to weigh all loan options carefully and ensure you truly are walking away with a better deal. For the hesitant borrower, RefiJet will help minimize the refi process’s stresses.

RefiJet will match you with an experienced financial expert that can hold your hand throughout the application and funding experience. The team of advisors will assist you in choosing the best refinance option and will even handle all of the paperwork necessary.

RefiJet pros and cons

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


  • Checkmark

    Prequalification available

  • Checkmark

    Payment-free period

  • Checkmark

    Draw on your car’s equity


  • Close X

    Potentially multiple fees

  • Close X

    Full application not online

  • Close X

    Not a direct lender

If you’re looking to refinance your vehicle with a private lender, there are an array of companies large and small to choose from. RefiJet is focused specifically on auto refinance loans, and has been Better Business Bureau (BBB) accredited since 2016, where — at the time of this writing — it holds an A+ rating.

Do you qualify?

In order to qualify with a lender in RefiJet's partner network you'll need to meet a few eligibility requirements.

RefiJet versus Gravity

Gravity is another online loan marketplace that offers refinance and lease buyout loans for drivers. Gravity discloses a bit more information for its borrowers regarding credit requirements and loan amounts. For those unsure of their acceptance, Gravity might be a better option. Both lenders boast excellent customer service with loan officer guidance throughout the entire process. 

RefiJet versus iLending

iLending is another strong contender for those looking to refinance their current loans. It boasts a very low minimum APR of 4.49 percent, and while not all borrowers will secure a rate this low it is a promising base. The lender similarly offers a lender specialist to assist you throughout the loan process. However, the lender does not disclose many of its requirements, which can cause some borrowers pause. Check out our RefiJet vs. iLending breakdown for more guidance.

What we like and what we don’t like

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

What we like

  • Prequalification available: RefiJet lets you view personalized rate quotes from lenders without a hard credit check.  
  • Payment-free period: Qualified borrowers enjoy a two-month hiatus from monthly auto loan payments.  
  • Draw on your car’s equity: You can get cash back from the equity in your vehicle if you refinance your auto loan.  

What we don’t like

  • Potentially multiple fees: Some lenders assess loan origination fees that can be costly. On top of these, RefiJet charges a $495 processing fee.
  • Full application not online: You will need to speak with a team member after submitting the initial online form to prequalify for financing.
  • Not a direct lender: While not a downside for all, RefiJet does not fund auto loans itself but rather connects borrowers to lenders. Having a middleman means the convenience of easy comparison but can also mean extra costs.

How to contact RefiJet

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 as a part of the prequalification process, RefiJet does not list its customer service hours on its website.

Auto loan types offered 

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


  • Amounts: Not specified
  • Terms: 24-84 months
  • APR: Starting at 5.24%

You won't find new or used auto loans with RefiJet, instead, it focuses on matching potential borrowers with lenders that offer auto refinance loans. While it doesn't offer specific loan amount limits or APR ranges on its site, you can prequalify to check your potential rates before fully applying.

Lease buyout 

  • Amounts: Not specified
  • Terms: Varies by lender 
  • APR: Starting at 5.24%

If 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 work for you. There is also no prepayment penalty if you decide to pay the loan off early to save money on interest. 

How to apply for a loan with RefiJet

Visit RefiJet’s website to fill out an interest form, and a member of the team will reach out to you. Alternatively, you can call the company’s 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 RefiJet's network. The next step is to finalize your loan application and upload any documents the lender requires to issue a final approval.

Features and additional perks

RefiJet offers a few special features for its borrowers. One is the Spanish version of the website: Drivers can translate the entire experience through one simple click. Along with this, qualified borrowers can secure a two-month payment-free period. 

RefiJet also encourages borrowers to roll on additional products such as gap insurance or extended warranty. 

Fees and penalties 

There are a few potential fees that come with a RefiJet backed loan. These include potential origination fees from your specific lender along with a processing fee of $495. 

RefiJet FAQs

How Bankrate rates RefiJet

Overall score 3.9
Availability 4 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 3.5 A low starting APR is a mark in its favor, but RefiJet doesn’t have a maximum APR specified, discounts or fees lenders might charge.
Customer experience 3.6 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.


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

  • Availability: This accounts for loan amounts, vehicle restrictions and availability in each state.
  • Affordability: Primarily, this section covers expected APR, acceptance criteria, discounts for autopay and the number of fees. 
  • Customer experience: This category includes online access, support availability, funding timeline, option for automatic payment and app availability.
  • Transparency: Here prequalification and disclosure of rates and fees are accounted for.
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
Writer, Auto Loans and Personal Loans

Rebecca Betterton is a writer for Bankrate who has been reporting on auto loans since 2021. Through her writing, Rebecca aims to provide clarity and accessibility to the automotive loans industry as the cost to finance new and used vehicles continues to climb due to steep inflation.

Edited by Editor, Personal Loans, Auto Loans, and Debt