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LAST UPDATED: June 11th, 2023

RefiJet is an auto refinance company that specializes in helping consumers find better rates and terms on their auto loan. With competitively low rates, starting at 2.49 percent, RefiJet is a great option for lowering monthly auto loan payments, saving car owners an average of $150 per month.

Keep in mind that RefiJet is not a direct lender. Instead, it connects borrowers with various lenders in its network, providing multiple refinancing options that a borrower can choose from based on their needs.

Continue reading for pros and cons, and verified RefiJet reviews from real customers.


The Good

  • Minimum Credit Score
  • Array of Services to Help You Save
  • Compare Rates and Terms
  • Free to Use
  • Easy Application Process
  • Delay Your First Payment
  • Apply with a Co-Borrower

Minimum Credit Score

RefiJet's minimum credit score is competitively low in the industry at 580. 

This low credit score requirement is good news for borrowers with good to fair credit. However, to get the lowest rates and best terms, an applicant should have an excellent credit score.

Array of Services to Help You Save

RefiJet has a variety of ways to help consumers save on their auto loan. Listed below are just a few of RefiJet's refinancing services:

  • Reduce your existing auto loan's interest rate
  • Add a cosigner to your new loan or remove a cosigner from your original loan
  • Extend your auto loan terms
  • Buy out a car lease
  • Get cashback from the equity on your car
  • Protect your car with an extended service contract

RefiJet also offers Guaranteed Asset Protection (GAP) insurance. Many auto refinance lenders offer this service, protecting the borrower in the case of their car being totaled. GAP insurance will pay off the remainder of that vehicle's loan term.

Compare Rates and Terms

Upon submitting an application, RefiJet will connect you with multiple lenders in its credit union network. An applicant can then compare different rates and terms, and choose the best option for their needs.

Most often, direct lenders have high credit score requirements. This may make it difficult for some borrowers to qualify for a loan, especially if they have bad credit. Thus, the option to compare multiple lenders at one time can be helpful, especially if you are looking for a significantly lower interest rate.

However, it is important to note that although RefiJet will generate a list of potential lenders for you based on your financial background, this does not guarantee that you will be approved for auto refinancing; that decision is based upon the discretion of each lender.

Free to Use

RefiJet does not charge consumers to use its services, something which the company prides itself upon.

Easy Application Process

Applying to refinance an auto loan with RefiJet is a simple and straightforward process. After filling out a quick online application requiring basic personal information, an applicant must call and speak with one of the company's Colorado-based expert financial service representatives (FSRs). 

During the call, the representative will ask for general information such as an address, contact information, employer details, and annual income. RefiJet's representative will also ask for the vehicle's vehicle identification number (VIN) and odometer mileage. Once this information is provided, RefiJet will look up the vehicle value. RefiJet will also ask for the applicant's social security number, which is entered into its secure system. 

Other auto refinance lenders offer an entirely online application, but many customer reviews speak to the efficiency and knowledge of RefiJet representatives, making the process simple and easy.

RefiJet's system will evaluate the applicant's credit history, qualifications, and collateral information against multiple lenders' lending criteria - finding various refinancing options for the consumer.

Once a customer selects the option that works best for them, RefiJet will submit an application and all relevant information to that lender, who will then complete the application process.

Delay Your First Payment

If you choose to refinance through RefiJet, you don't have to make a payment for the first two months. After this time period, payments will need to be paid regularly and on time.

Apply with a Co-Borrower

While there are many reasons that you may want to apply with a co-borrower, one large reason is the fact that it can strengthen your credit with which you are applying. Thus, if you have low credit, it could be to your advantage to apply with a co-borrower.

You can add or delete a co-borrower easily , but you must have the co-borrower's permission to do so.

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The Bad

  • Auto Refinance Eligibility Requirements
  • No Online Application
  • Subject to Third Party Terms
  • Vehicle Type Limitations

Auto Refinance Eligibility Requirements

Consumers should be aware that they'll need to meet the following requirements to pre-qualify for auto loan refinancing:

  • Employed or have a verifiable source of income
  • Made recent on-time car payments
  • Vehicle must be 10 years old or newer
  • Vehicle must have full coverage insurance
  • Must have valid vehicle registration
  • Must have a valid driver's license

Some of these requirements may be limiting for some consumers, but are standard within the auto refinance industry.

No Online Application

Most auto refinance loan lenders offer an online application, streamlining the application and funding process. RefiJet's application can be started online by entering basic personal information. But, you will need to speak with a RefiJet loan officer over the phone to finalize details and paperwork. Although this may be inconvenient, this does not necessarily lengthen the application process.

If you prefer a completely online process, you will want to research other lending options.

Subject to Third Party Terms

While RefiJet facilitates the auto-refinance process, keep in mind that RefiJet is not in control of rates or terms offered by lenders in its network. 

Rates offered by each lender are calculated according to your credit profile, collateral, and other factors, so your specific offer may differ from advertised rates.

In addition, although RefiJet does not have an application fee, any additional fees, such as a prepayment penalty or late fee, will be determined by the lender you choose.

Vehicle Type Limitations

RefiJet can refinance personal vehicles (must be less than 10 years old with no more than 150,000 miles), motorcycles, and recreational vehicles (RVs).

The company does not offering refinancing for commercial vehicles or other types of vehicles, such as boats. If needed, there are other lenders that do provide refinancing for a broader range of vehicle types beyond what is offered by RefiJet.


The Bottom Line

Consumers who financed their vehicles and are interested in refinancing opportunities are encouraged to try out RefiJet's free services.

RefiJet offers a variety of auto refinance services that can lower a consumer's monthly payment on their existing auto loan, in addition to lowering their rates and finding them more favorable terms with a lender in its credit union network. Just be sure that you meet all the requirements to pre-qualify for refinancing and that you have all the necessary/required documents on hand when you apply. 

The RefiJet application process is quick and easy, including a brief online application. It is important to note, that an applicant will also be required to speak with a RefiJet representative to complete the application process. Other auto refinance companies have entirely online applications, which could be easier for some borrowers, but we don't believe that the application requirement to speak with a customer service representative is a deal-breaker. If anything, it can allow you to ask any questions and ensure that your refinancing experience is tailored to your specific needs. However, if you prefer an online application, looking into other refinancing options may be beneficial.

Many RefiJet customer reviews are positive, highlighting an easy refinancing process and great customer service.

RefiJet auto refinance reviews are limited. If you have done business with RefiJet, please tell us about your experience by leaving a review.

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Misty Peoples MO

Amazing financial offers that fit my price range perfect and helped me gain my new car and fit my budget great match

8 months ago