RateGenius Auto Loans Review


RateGenius offers auto refinance loans and lease buyout loans. Its network of lenders is composed mainly of credit unions, which she says often provide better rates, personalized service and happier members.

RateGenius also offers GAP waivers, which if you total your car would cover the difference between the car’s value and what you still owe. This can potentially save you thousands of dollars if you have an accident, but do your research to determine if this type of coverage is right for you. Also note that you may be able to purchase insurance gap with your car insurance company.

RateGenius allows you to prequalify for offers without hurting your credit score. However, submitting an application will result in a hard credit pull. The application only takes a few minutes to complete and, if approved, you will receive your offer by phone, email and SMS.

RateGenius can usually process the loan within 24-48 hours. They will request a current refund amount from your existing lien holder and then ask for all of your documents and signed documents, such as proof of income and insurance. RateGenius then submits the completed loan package to your new lender for approval and funding, and a refund check will be sent to your current lender.


Refinancing terms are 36 to 84 months. Depending on your lender and the state you live in, there may be prepaid finance charges associated with your loan. Additionally, RateGenius may collect a small fee on behalf of your state’s DMV to process the title for you.

To refinance through RateGenius, you must be a US citizen and at least 18 years old. Although RateGenius does not specify eligibility requirements for cars, it says most companies won’t refinance a car that’s over 10 years old or over 120,000 miles. Lenders also typically require your car to be a “personal use” vehicle, meaning it cannot be used in connection with a business, such as a ride-sharing service.

Since RateGenius connects you with various lenders, it does not itself offer any discounts. However, you may qualify for discounts, such as autopay, depending on the lender you choose.

RateGenius is accredited with the Better Business Bureau and has an A+ rating. Trustpilot gives RateGenius 4.7 out of 5 stars, an excellent score, with over 3,900 reviews. The Consumer Financial Protection Bureau received six vehicle loan or lease complaints about RateGenius in 2021 and each received a timely response and ended with an explanation.

For help refinancing your loan, call 866-728-3436 or email [email protected]

  • Someone with an existing car loan who wants to refinance.
  • Someone who still owes at least $10,250 on their existing car loan.
  • Someone who is considering applying with a co-applicant.

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