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LAST UPDATED: September 8th, 2021

RateGenius is an online platform matching lenders with borrowers who are looking to refinance a current auto loan. RateGenius offers a network of over 150 lenders, attentive customer service representatives, and claims that customers save $83 per month on average.

The company’s services are fully online, with no physical locations. This makes it easy for customers to complete their application process and paperwork without stepping foot into an office or bank. There are requirements to qualify for refinancing through RateGenius.

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The Good

  • Customer Satisfaction
  • Online Process
  • Competitive Rates
  • Helpful Resources

Customer Satisfaction

Customers have described working with RateGenius as “fast, easy and effective”. Overall, customers have a very good experience and are happy with the results. 

Online Process

The company’s website is easy to navigate and the application process is straightforward and easy. Customer service reps are involved in the process if customers have questions or concerns. Representatives are available through email and by phone. If there are questions and a representative cannot be reached, the company also has a customer service resource for customers available online and by phone. 

Competitive Rates

RateGenius has a network of over 150 lenders, which allows the customer to find the best rate as well as terms. Lenders can provide their best offers and customers can select the best fit.

Helpful Resources

RateGenius has a Learning Center that provides great articles and information regarding relevant topics. This addresses FAQs and industry related research to help customers navigate the application process as well as understand many terms and documents involved in auto ownership and lending. 


The Bad

  • Credit Check
  • Minimum Credit Score Requirement
  • Loan Requirements

Credit Check

A hard pull credit check is required for the refinancing process, which can slightly lower an individual's credit score. However, numerous credit checks in a short period of time can negatively affect one's credit significantly. 

Minimum Credit Score Requirement

RateGenius has a minimum credit score requirement. It is currently listed at 550.  The actual minimum score required can change, so potential customers should contact RateGenius for details. 

Loan Requirements

RateGenius only refinances loans for customers that have at least $10,00 left on the loan. Cars must also be less than 10 years old to qualify for refinancing. In addition, customers must have at least 24 months left of payments on the loan. It must also be a personal vehicle, no company owned cars, and RateGenius does not refinance RVs, other motorized vehicles, boats or other recreational vehicles.  


The Bottom Line

RateGenius is an easy, reliable, and flexible option for those looking to refinance their auto loan. For those that meet the requirements, there can be a significant reduction in monthly payments as well as the APR.

Overall, customers are pleased with the company’s customer service and streamlined process as well as the ability to ask questions and receive thorough answers.

View Best Auto Refinance Companies


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