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FiWize Auto Refinance Review


ConsumersAdvocate.org Rating: 4.4 / 5 (Excellent)
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FiWize is an auto loan originator headquartered in Scottsdale, Arizona. It was founded in 2017 and partners with lenders to offer loans. The company is owned by Residual Finance Partners, Inc.
 
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How is FiWize rated?

Breakdown

4.3/5
Loan Details
4.4/5
Customer Experience

Overall Rating: 4.4 / 5 (Excellent)

FiWize is a relatively new entrant to the auto loan space, but it works with partners that have decades of experience in the industry. Its service is free to use and won't hurt your credit, so there's no harm in getting a quote if you're interested. They offer conventional auto loans plus ultra-low payment Value Plus loans (Residual Based Financing), giving you affordable loan options that are not available at every lender. The Value Plus loan comes with an innovative Buy Back Guarantee, allowing you to return the vehicle to the lender instead of paying the final payment if you wish. Simply request an auto loan quote and FiWize will help you determine which loan type may be best for your situation.

Auto Loans & Refinancing

Loan Details - 4.3 / 5

FiWize enables you to refinance an existing auto loan or get a lease buyout loan. You can also get a new car loan on vehicles sold direct to consumers from the manufacturer (eg.,Tesla). It doesn't disclose interest rates on its website since this will vary depending on individual circumstances. If you'd like to learn more about what it can offer you, you can fill out its online quote tool. Doing this will not affect your credit and you do not have to continue with the loan process if you're not happy with the loan you're quoted.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Loan Qualifications

Qualification - 4.1 / 5

Qualification requirements also vary but since FiWize works with multiple partners, the odds are good that it can offer you a loan. Consider getting a quote to see if this is the case for you.

Borrower Qualifications

Minimum Age
Must be 18 or older
Minimum Income
Varies by lender
Minimum Credit Score
640+
US Citizenship Requirement
No
Verification / Documents Required
Social Security Number

Vehicle Qualifications

Mileage Limit
Less than 125,000 miles (auto refi only)
Car Age
Less than 10 years old for conventional loans; Five model years old or newer for Value Plus loans
Car Makes
Any vehicle make for refinance and lease buyout loans. New purchase loans only on vehicles purchased direct from manufacturer (e.g. Tesla)

Application & Service

Customer Experience - 4.4 / 5

Your approval and funding times will depend on which of FiWize's partners ends up underwriting your loan. You can get a quote online to learn more about what it can offer you or you can reach out to FiWize directly by phone and a representative can assist you in learning more about approval times. FiWize has professional loan consultants ready to help you determine which type of auto loan best fits your needs. FiWize also walks you through the contract process through to completion.
Approval Time
Same day
Funding Time
1-7 days, varies by lender
Fees
$0-$129 (refi only)
Benefits/ Features
Pre-approval Soft-credit Inquiry
Auto Loan Calculator

FiWize Reputation & Reviews

Reputation - 4.5 / 5

FiWize has only been around for a few years, so it's not surprising that there aren't many customer reviews about it yet. But that shouldn't deter you because it works with partner lenders that have been well established in the industry for decades. As always when working with a marketplace, you should do some research into the reputation of your underwriter before applying so you understand what you're getting into.
BBB Rating
A
Number of BBB Positive Reviews
0
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
0
Date Collected
2020-07-08

Contact & Additional Information

Lender Type
Marketplace
Homepage URL
https://www.fiwize.com/
Company Phone
(877) 434-9493
Headquarters Address
8901 E Pima Center Pkwy Suite 230, Scottsdale, AZ, 85258
Year Founded
2018

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