MotoRefi is an online lending marketplace that specializes in auto refinance. Fill out a quick form online to be matched with the best loan options for you. The company also helps with auto insurance, extended warranty plans, key replacement, total loss protection and cosmetic care packages. Checking your rate with MotoRefi will not impact your credit score.
Overall Satisfaction Rating
- 5 stars
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- 1 stars
- Pre-qualify without affecting credit
- Rates as low as 1.49%
- No DMV paperwork
- Not available for motorcycles
- No auto lease buyouts
- $399 fee
MotoRefi shows you rates for auto refinancing and streamlines the process if you decide to apply for and accept an offer from one of its partners. It’s free to compare options, but you’ll be charged if you decide to refinance.
What is MotoRefi?
MotoRefi is a loan marketplace that specializes in vehicle refinancing to help customers lower their monthly payments. After you fill out a form on the website, the company uses an algorithm to match you with the best loan offers for your situation. Checking your pre-qualified offers through MotoRefi won’t affect your credit score, and the company offers auto insurance, total loss protection, extended warranty plans, key replacement and cosmetic care packages as add-ons when you refinance with the company.
When you refinance, MotoRefi takes care of paying off the old loan and retitling the vehicle, saving you a trip to the DMV.
How does MotoRefi work?
To get started with MotoRefi, fill out a form on the website with your general information, current auto loan and VIN. Your Social Security number isn’t required to check your offers. It takes just a few seconds to get the matches from its lending partners — once you receive your offers, the next step is to apply for the loan of your choice. At this point you’ll need to provide documents to confirm your income and provide your Social Security number. You can submit these documents online, by email or by text message. Loans are finalized by electronic signature. MotoRefi will pay off the old loan and take care of the paperwork to retitle your vehicle.
During the refinancing process with MotoRefi, you can add a second person, or a co-borrower, to the new auto loan.
MotoRefi fees and rates
MotoRefi charges $399 for refinancing services — this fee is rolled into the loan. The interest rate depends on your lender, the amount financed, the payment terms and your credit score and income. Fill out an application to check your rate.
Frequently asked questions
- How do I qualify for a MotoRefi loan?
- To check rates with MotoRefi, fill out a form on the website and provide your vehicle information. To qualify for a loan you’ll need to provide your Social Security number and proof of income, along with additional personal information.
- Does MotoRefi do a hard credit pull?
- MotoRefi does not do a hard credit pull when matching you with loan offers. When you apply for a loan, however, MotoRefi will need to perform a hard credit pull.
- What type of vehicle can I refinance with MotoRefi?
- MotoRefi provides refinancing services for personal automobiles, SUVs and trucks. MotoRefi does not work with commercial vehicles or motorcycles.
- Can I pick my MotoRefi loan term?
- When you get matched with multiple loan offers from MotoRefi’s lending partners, you can choose to apply for the one(s) with the terms that best fit your needs.
- Can I add gap coverage to my MotoRefi loan?
- If your refi is eligible, you can add on gap coverage or total loss protection when you accept an offer through one of MotoRefi’s partners.
Is MotoRefi legit?
MotoRefi is a great place to start if you want to refinance your car loans. It’s free to get matched with offers, and it won’t affect your credit score. It’s a nice bonus that MotoRefi also takes care of the paperwork on the automobile’s title if you accept a loan offer from one of its lending partners. If you want to compare rates from other lenders that aren’t partnered with MotoRefi, however, you’ll have to do your own research.
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My auto refi with MotoRefi was fast, easy, and done completely online and by email. I have no complaints at all about them. The only reason I didn't give 5 stars is because I'm not a fan of the bank that they put me with. The bank technology isn't up to par and they are hard to get hold of and get anything done. However, overall the experience with MotoRefi was good and I would do it again.
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The lady that I dealt with was very thorough and I was very pleased with how quickly MotoRefi moved. It took one afternoon and a little bit of the next morning but that was because I had to make sure I was getting the documents properly signed or notarized and back in the mail. It was approved within hours and I received the paperwork within hours too. I was in finance for 40 years and that was very unusual. I've spoken to the lender in regards with setting up my auto payment. I would recommend MotoRefi if my friends were buying cars.
In the very beginning, I was contacted by one representative. And on the next day, a different representative ended up finishing the process with me. He came on board. MotoRefi should keep it simple and keep it to one person that the customer would deal with. But everything went very smoothly. The refinancing was approved but there's a funding delay. Other than finishing the final detail, my expectations have been met.
MotoRefi seemed to be the most attentive. Signing up wasn’t difficult at all. I t was just finding the time to get it all done since I run non-stop. Zack, the guy that I’ve been working with, is good. He’s on top of it. Any difficulties that he might have hit gave me more time to get my end done. So, it worked out decently. The refinancing is still in process but I'll be hearing from him in the next day or two. He is working on it right now. The only thing that was a pain in the butt for me was having to go get one of the papers notarized. But that's a Delaware law, so that's not anything on MotoRefi. Other than that, everything was smooth.
I filled out all the blank information that MotoRefi needed to get started and they eventually got me paperwork that I needed to get notarized. I did it within the next day and they sent me a label to ship off, but it's not paperwork to them. I waited about a week to hear back that we're finalizing the paperwork to get the loan my previous lender paid off, so that the new one would become the lien holder. Overall, it was simple. The interactions with the reps were professional. They answered any questions that I had and they were available whenever I needed to call them about anything.
I like the communication between me and the lady. It was always good and anytime I was going to the next step or if they needed something else for me, it was quick for them to reach out. The steps were speedy and accurate. It was a good experience with MotoRefi and everything has been up to par.
The process with MotoRefi took a few days but the delay was on my side of not being able to print things. It would have been shorter if I was available. The customer service team was fantastic and it was perfect dealing with them. The new rate and terms of the mortgage worked and I lowered my payments. The experience was great and super easy. I would recommend MotoRefi.
The experience with MotoRefi was good and everyone was helpful. The website wasn't confusing either. I put my information in and then, the rep called me back immediately after and walked me through all of it. They cut almost half my interest rate that I had before. The process took two and a half weeks and it seemed like it took a while but that was because of my circumstances.
The reps did their thing and it was easy signing up. If you want to get your refi, MotoRefi gives you the best options. They're professional, quick, gets it done quickly and very thorough. They’re somebody you can trust. It has been a cool experience so far.
The fella I talked to with MotoRefi was very pleasant and got things done. He was an informative person who helped me a lot, so I appreciated him. Also, the rate saved me $70 a month, so I'm happy about that. Everything took probably three weeks. I had to get my Maryland tags changed to Virginia and I couldn't get an appointment till September 2nd.
The signup process with MotoRefi had a lot of paperwork but you’re not seeing anybody face to face to that’s the way it’s got to be. It was a good experience for what I had to do.
Signing up with MotoRefi was easy and for my first time refinancing my cars, it was good.
The rep has been super helpful and cheerful every time I talk to her. It’s good. I’m extremely satisfied with the lower interest rate and payments with MotoRefi. We're not quite finished with everything but we're almost there. It's been great so far. People should reach out as soon as possible and see if there’s a refinance that works with them.
Rick, the rep, was very detailed on what I needed to send in and very quick with sending the paperwork over to me to have everything signed and a decision being made. I’m happy about the rate because I’m saving about $350 but not so much that the refinance is a six-year term.
MotoRefi Company Information
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