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rateGenius Auto Refinance Review


ConsumersAdvocate.org Rating: 5 / 5 (Excellent)
12 Customer Comments & Reviews - see all comments
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Founded in 1999 and headquartered in Austin, Texas, rateGenius is a nationwide online broker that specifically caters to auto loan refinancing. The web portal features a savings calculator and free quotes from over 150 loan refinancing lenders across the country. Customers of rateGenius save an average of $89 a month when they refinance their car, truck, SUV, or motorcycle.

How is RATEGENIUS rated?

Breakdown

5.0/5
Loan Details
5.0/5
Customer Experience

Overall Rating: 5 / 5 (Excellent)

rateGenius is a quick and convenient alternative for anyone looking to refinance their auto loan for a lower rate and save thousands of dollars over the life of their loan. The company tends to refinance for the same loan term, so customers pay off what they owe in the same amount of time while obtaining the most competitive rates and lowering their overall interest payments. rateGenius works with a leading network of credit unions as well as community and national lending institutions to offer the best prices on a great selection of insurance products. The company has managed the rare feat of obtaining a Better Business Bureau accreditation as well 90% positive customer reviews and minimal complaints, making them one of the most reliable options in the auto loan market today. Those looking to reduce their interest rates while receiving outstanding customer support are sure to find rateGenius an ideal, hassle-free refinance option.

Auto Loans & Refinancing

Loan Details - 5 / 5

rateGenius offers flexible loan terms that can be shortened or lengthened depending on the clients' particular needs. The company generally refinances for the same amount of time left on your current loan term, but for a lower rate. Because the company serves as an online broker, loan terms and rates will vary depending on the lender and the consumer's previous loan details.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Loan Qualifications

Qualification - 5 / 5

rateGenius will inquire into the credit history of new and returning customers to ensure they are matched with lenders offering the best interest rates possible. The process may also entail a credit score verification, yet they do not specify whether or not there is credit score minimum. To qualify and fully complete the online application process, prospective customers must be 18 or older and provide their social security number as well as their vehicle's identification number or VIN.

Borrower Qualifications

Minimum Age
Must be 18 or older
Minimum Income
No Minimum
Minimum Credit Score
No Minimum
US Citizenship Requirement
No
Verification / Documents Required
Social Security Number

Vehicle Qualifications

Mileage Limit
No Limit
Car Age
No Limit
Car Makes
Any Vehicle Make

Application & Service

Customer Experience - 5 / 5

rateGenius does not charge any application fees. However, some lenders may apply processing fees, which are typically included in the loan amount. One of the best things about rateGenius' service is that they expedite the refinance process so clients can obtain quotes in as little as 24 to 48 hours. Nevertheless, prospective customers should be aware the company will carry out a hard credit inquiry upon application, so those who have applied for multiple forms of financing in recent months should inform themselves about the potential impact of numerous inquiries into their credit.
Approval Time
Same Day
Funding Time
1-7 Days
Fees
Title Fee
Benefits/ Features
Online Rates / Application

RATEGENIUS Reputation & Reviews

Reputation - 5 / 5

rateGenius is accredited by the Better Business Bureau with an A+ rating and 91% positive customer reviews. Consumers agree the company offers quality customer support and quick service, which makes them one of our go-to partners for anyone looking for an excellent auto loan refinance experience. This is further confirmed by their 9.4 TrustScore with Trustpilot.com, where clients state the company has helped them secure low rates and provided them outstanding customer service from start to finish.
Trustpilot Rating
9.4 out of 5
BBB Rating
A+
Number of BBB Positive Reviews
263
Number of BBB Neutral Reviews
3
Number of BBB Negative Reviews
23
Date Collected
2017-12-13

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
Company Phone
(866) 728-3436
Headquarters Address
9300 United Drive, Ste 180, Austin, TX, 78758
Year Founded
1996

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12 Customer Comments & Reviews

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nancyeflor
11/19/2022
This is my second review. This one is about canceling the service warranty and GAP insurance 3 days after my 60 day window expired. My GAP insurance $895) and service warrant ($1623) was financed with my car loan with Air Academy. The cancelation process was to take 4-6 weeks. While I did receive a refund to my car loan account, it was $404.45. No explanation was provided as to how that $ was arrived at or what happened to the remaining $2,000. It looks like, once again, RateGenius has failed to explain their exorbitant fees and why I paying for $2,000 of air as the "products" were fully canceled.


D
Dmitrii
10/31/2022
I contacted RateGenius again to refinance my auto loan with a different bank. The agent processed all my documents and initiated a credit check and then went silent for almost two weeks. After I called a support line I came to find out that there was no way I could refinance the same Car a second time with RateGenius which the agent failed to explain and check before even starting the process. As a result, I have another hard pull on my credit history and will have to do that again to refinance my loan with another company. This is terrible customer service!


Bill E
9/17/2022
Was just looking for rates for a lease buyout. This company ran a hard credit check withouy my permission. Then did not even quote me a rate


openhousegranite
3/11/2022
I really like my Sales-Rep with RateGenius. However, that's where the praise will end. I agree with others on this string, they are a broker for several lenders and they all pull your credit. I've been dealing with them for over a month and I still have no idea if I have a refi loan or not! They initially gave me a great rate at 2.77 % but then it was more like purchasing a house instead of a car refi. I have very little debt, family income with multiple six figures, over 700 credit score and they keep asking for more an more... It's totally ridiculous ! I finally, just told my Rep, I'd rather just pay the damn thing off in full than go through this BS, with a car that is half way paid... Read More


Stephen J
8/5/2021
Never do business with this company. 1. They say they won't affect your credit score - highly deceiving because if you look into the fine print they WILL pull a hard inquiry. (see marketing email I attached - submitting to the CFPB as a deceiving practice) 2. They will take several days to even contact you saying there are rates avail. I had to call my agent over 10 times before I even got to a live rep. 3. I have an 800+ credit score with a vehicle worth 20k. They offered a horrible rate that made the payment lower but a super high APR - typical dealer scam. 4. When speaking to customer service through their online web chat - they will disconnect on you multiple times if you... Read More


R
RICHARD
1/15/2021
THIS COMPANY,THEN THAT I MAKE MY APPLICATION AT THE BEGINING OF THIS MOUNTH OF JUNUARY,THEY RESPOND TO ME ON JANUARY 8 THAT MY VEHYCULE RAFINING HAS BEEN APPROVE BY TROPICAL FINACIAL CREDIT UNION ,PRODECING TO SIGN ALL THE DOCUMENTATION REQUIRE FOR THEN AND SENDING THE REQUEST DOCUMENTS,BUT NEVER THE LESS TODAY JUNUARY 15-2021,THEY SEND ME A MESSAGE THAYT I WAS NO ACCEPTED, IT IS A DECEPCION,WASTE OF TIME IN ADDITION TO THE FACT THAT THEY RAN MY CREDIT......I AM NOT SATISFFIED WITH THIS COMPANY RATEGINIUS


Terry B
11/2/2020
Do not give them everything they ask for. They do not need a high-resolution image of your drivers license. They do not need personal references. Do not pay "one time fees" AFTER they get all your signed and notarized documents. This information can be "sidetracked" by individuals for non-company use like identity theft or sold for advertising. What will you do? Go to Texas to file a claim?


R
Rc
8/31/2020
They advertised rates they cannot supply. So now I have an inquiry for credit on my credit report, which lowers your FICO score, and they cannot get me a lower interest rate then I already have. Beware...they cannot stand by what they are advertising


R
Randy M
5/12/2020
In my opinion this company uses deceptive advertising practices to entice people to unwillingly agree to run credit checks without making it perfectly clear the effect of their actions. All of a sudden my credit report is hit with three auto loan inquires that I did not request there for adversely effecting my overall credit score. This is totally not acceptable. Reminds me of a bait and switch sleazy used car salesman. Crooked sales approach just to screw people from trying to get ahead. Thanks for nothing,


J
james
3/31/2020
They helped us save a lot money .Fast great customer service they did offer us gap and extended insurance but no pressure. We are very satisfied with them...



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