RateGenius
AUTHORIZED PARTNER

RateGenius

 4.5/5 (45 ratings)
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RateGenius

About RateGenius

RateGenius works with more than 150 lending partners to help you refinance your auto loan and save money. The company matches you with lenders that fit your situation, and it advertises saving people an average of $83 a month after refinancing. The company also provides personal finance resources through its blog.

Overall Satisfaction Rating

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  • 1 stars

Pros

  • 150+ lenders
  • Rates at 2.43%
  • Easy application
  • High average savings

Cons

  • No comparison
  • May have fees

Bottom Line

RateGenius is a simple refinancing platform that compares over 150 lenders’ rates and terms to find the best fit. Though you can compare loan offers directly, the low rates and high average savings make it a good option.

What is RateGenius?

RateGenius is a nationwide vehicle refinance platform that works with more than 150 lenders to help customers find savings on their auto loans. Using its advanced technology platform, RateGenius saves customers an average of $83 per month after refinancing. It also has a long list of 4- and 5-star reviews that praise its helpful customer service team and ability to offer multiple savings opportunities. On its website, RateGenius provides news and resources dedicated to helping customers make smarter financial decisions across the board.

How does RateGenius work?

With RateGenius, customers apply online to find rates. The RateGenius system looks at options from more than 150 lenders to help narrow down the best savings and terms that fit each person’s situation. Its financial team compares your options for you to find the loan that’s the best fit for your situation. After you choose your refinancing solution, RateGenius will pay off your old loan with your previous lender, transfer your title to the new lender with a lower rate and transition you to your new lender.

How to apply for a RateGenius loan

Customers can apply online or over the phone with RateGenius. The online application is easy to follow, walking you through the process step by step. Unfortunately, it doesn’t let you compare your loan options immediately on the platform itself. Instead, it takes your information, including income, rent payments, vehicle information and more, and then sends that to a loan officer.

This person will then reach out directly to you to discuss your options and answer any questions you may have.

RateGenius rates and fees

Loan rates start as low as 2.43% on a 48-month loan for those with excellent credit, according to RateGenius at the time of publishing. The fees associated with RateGenius depend on the situation. In some cases, there will be prepaid charges associated with your loan, which vary by lender and state. Some states may also require a DMV fee to process the title. If there are fees associated with your situation, RateGenius says it discloses and documents them.

RateGenius FAQ

Does RateGenius run your credit?
Yes. After you submit an application, RateGenius runs a hard credit check in order to provide more specific results. You can choose not to send in your Social Security number with your application, which means you won’t get a credit check — but this also means your rates won’t be as personalized.
How long does it take to hear back from RateGenius?
It typically takes between 24 and 48 hours. During this time, its team is figuring out what options are available to you and what may work best for your situation.
Can I refinance with RateGenius with poor credit?
Yes, but your rates will likely be high. The best interest rates are reserved for those with the highest credit scores.
Where is RateGenius located?
RateGenius is based in Austin, Texas.

Is RateGenius legit?

RateGenius is a legitimate refinancing platform that offers a fully online auto refinancing experience. It partners with over 150 lenders across the U.S. If you’re expecting a platform that allows you to see and compare your own options in real time, RateGenius may not be the right fit. Instead of showing you options, its experts handpick loan offers on your behalf. Applying takes only a few minutes, and you can refinance your car loan within 24 to 48 hours.

RateGenius Reviews

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Page 1 Reviews 0 - 5
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Aug. 23, 2022

The communication with RateGenius was horrible. They weren't getting back and it took days to get an answer from anybody. I had one representative who apparently had quit and I didn't even know about it. I was never notified and there was no contact until I asked to speak to a manager. They said a rep who had my file would be in touch. I was never given an explanation. The new representative was the one who told me what had happened. The communication needs improvement between the clients and the workers. But once it got to the right guy, it got done quickly and he was able to do it good.

RateGenius response

Hi Ashleigh! The entire RateGenius team would like to apologize that you felt the communication was not up to par throughout the process. We appreciate you sharing your feedback with us. Thank you for refinancing with RateGenius!

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 8, 2022

    I have a used car and about a year and a half of using it, the gasket on the engine completely blew. We still owed a good 6,000 on it and to replace the engine or repair it or have it rebuilt was going to cost over $6,000 and I had no way to do that. I had to go to Ford and I was having to be charged roughly $500 a month, which was burdening. So, I went to RateGenius to find out what else I could do since my credit had gone up. They told me that they would be looking at several different lenders that can set up different plans and I was able to configure what worked best for my means. While it was a little bit challenging trying to get things settled, I was able to end up with a rate that felt agreeable. I'm now down to 470 a month, which is not too bad.

    I had a couple of hitches on behalf of the people that RateGenius was contacting but they did everything to work to my favor and it helped out with that. I didn't feel like I was being blindsided into something else, which was the biggest thing. I wasn't getting shoved different things into my gullet and just saying this was how it had to be.

    RateGenius response

    Hello Alan! Thank you for leaving this review. We certainly value all of our customers, and are pleased to hear that you felt that based on your review. Thank you for choosing to refinance with us!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: April 19, 2022

    The rep from RateGenius was really good. She kept me in touch with everything and kept me updated. During the signup, I was asked for standard information like employment history and making sure that I had an income, and then my residency. The process from beginning to end took about a couple of days. RateGenius will shop for you, and then they'll give you the best offers. They're doing good because pretty much everything was sent through email and I kept up with my representative through text messages. So, they have multiple ways of keeping in touch.

    Tracking your progress is done through a website. They give you a link, and then you go to the link, and then it makes sure that it's you. It doesn't have log-ins. They send you a text through your phone with a passcode, and then you get in and it has all your information. So, it's really easy to deal with. All the paperwork was done through DocuSign. I uploaded the needed documents through my phone. I went to the website on the phone, and then clicked on the link to the document that I needed. It was a really quick, easy process and I didn't have to deal with the bank at all until the end.

    RateGenius response

    Hello Patrick! Thank you so much for your feedback! We are very pleased to hear that we were able to provide you with such a quick and wonderful customer experience! Thank you for choosing RateGenius for your auto financing needs. We hope you will choose us again in the future.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 13, 2022

    The process was pretty straightforward. It took less than half an hour. The representative that I was assigned to was Bert. I spoke with him and he was very helpful. At the time that I did the application, he told me what information I needed to upload. So I did that. Once he had it, he needed specifics that I had to get off of my car. But it was a fairly simple process.

    I'm satisfied with the rate. My original rate was around 15%. So the fact that they got it less than 5% was great. My whole experience was hassle-free. The only time that it took me was I had to get a form notarized, but everything else, you can literally do from your smartphone. So I would definitely recommend RateGenius to anyone.

    RateGenius response

    Our team is delighted to hear that you felt Orion was able to assist you in achieving all of your refinancing goals, in addition to providing you with excellent service. Thank you for choosing to refinance with us!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 9, 2022

    The process with RateGenius was easy. They sent me the link where I could log in and see the transaction and what I needed to upload. My agent was also very nice and quick on everything. They did two loans for me. The first loan took three days to get processed and the second one didn't take longer than two days. The rates and terms that I got were excellent as well. On the first loan, the agent was saying that she got me a good deal but I'd be paying a little bit more. Then she asked what I was looking for, so I told her what I was looking for to be able to pay a lower payment than what I was paying. She went beyond that and found me somebody with a lower interest rate and with extra incentives that I didn't have.

    The interest rate on the loan I had with somebody else was a 16 something and she got me a 6.2. Plus, I didn't have the warranty and she included that in the deal as well. She saved me close to $7,000 a year on the first loan which was a lot. She said it was just 2,000 or 3,000 in a year for people. All in all, I'm going to continue to use RateGenius and I'm going to refer them to everybody I know.

    RateGenius response
    Thank you so much for using our services not only once, but twice. Our team is delighted that we have

    been able to assist you in reaching your refinancing goals twice. We appreciate you choosing to work with us!

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 25, 2022

    Overall I would rate my experience with Rate Genius as extremely poor in terms of communication, transparency on processes, and customer satisfaction. I did my research on companies that specialize in lease buyout and came across RateGenius. I requested to initiate the loan process and was assigned a Loan Specialist - my overall engagement with the Loan Specialist over roughly two weeks was horrible.

    a) Poor Communication: It was next to impossible to reach the Loan specialist on phone. Over the entire period, I was able to get the loan specialist on phone only twice. Most of the time the calls will just go to voicemail. There was an option to exchange texts - but responses there were also significantly delayed and unclear.

    b) Lack of Clarity on Process: The general process to get loan approvals from different lenders and next steps was poorly communicated. Again goes back to the lack of phone time above and unclear text messages. I couldn't get any confidence on what it will take to get this process to completion.

    c) Multiple Errors: There were quite a few times (around 3 at least) where I had to repeatedly explain and question the numbers provided as they did not add up (the payoff number was wrong, the additional costs around document processing or taxes etc. was not elaborated). It took some digging to even understand how the numbers came about.

    d) Dubious approval processes: After repeated attempts to get clarity, I raised the concern of poor communication (again through text) - and magically, my loan status changed from "We have approved your application and have a new offer for your review." to "Unfortunately we weren’t able to get you approved for a new auto loan at this time." This was again just a system status change not backed by any correspondence from the loan specialist of Rategenius.

    I essentially wasted a couple of weeks of my time and effort trying to get a loan from this company and additionally incurred a hard inquiry on my credit profile and no value.

    RateGenius response

    The entire RateGenius team would like to apologize that you felt the communication was not up to par throughout the process. We appreciate you sharing your feedback with us. Thank you for refinancing with RateGenius!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 13, 2022

    Overall, the refi was really good. The agent I was dealing with was always very communicative. Within 30 minutes of me calling or something like that, I'd always get a callback or at least a message. The new rate and terms are a lot better than what I had. It was almost half of what I was paying as far as interest. It's a huge benefit.

    RateGenius response

    Hi Colton! Thank you for taking the time to write and share this review. Our team is happy to know that you were completely satisfied that we were able to be a part of your refinance. Thank you for choosing to work with us!

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Aug. 9, 2022

    Everything was good with RateGenius and the process didn't take that long. The only thing I didn't like was that I thought the rate was gonna be whatever that credit reporting agency sent to me, but it wasn't. They said it would be 4%. But when it was done, it may have been 7.

    RateGenius response

    Hello Marty! We greatly appreciate you choosing to refinance with us. Our team is delighted to hear that we were able to assist you in achieving your refinancing goals.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: July 29, 2022

    I had an excellent experience with RateGenius. Getting signed up was fast and professional.

    RateGenius response
    Hello Wilson! Thank you for leaving this review. We certainly value all of our customers, and are pleased to hear

    that you felt that based on your review. Thank you for choosing to refinance with us!

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    Rated with 1 star
    Verified Reviewer
    Original review: July 25, 2022

    I was not sent all the proper documents to sign with my original paperwork. When RateGenius realized this they sent me a supplement that needed to be signed. This was signed and returned. They then called me to tell me my lease buyout paperwork had expired and requested that I get another one from my leasing company. My buyout had increased $120. RateGenius asked that I pay this difference, claiming it was not their fault that the buyout expired/was raised.

    They were not willing to budge whatsoever even though the transaction could have closed on time if the proper paperwork was collected. They wouldn't even split the difference with me. I work in lending and regularly provide a lender credit when an issue like this occurs, especially when it is due to a delay in closing and we are so close to doing so. Bad business. I will not return to RateGenius for another loan or recommend them to friends or family.

    RateGenius response

    Hello Shane and thank you for your feedback! We are concerned to hear about your experience. Our primary goal at RateGenius is to provide the best customer experience possible. As such, we are very disappointed to hear that we fell short of that goal this time. We have forwarded your concerns to our management team and one of our managers will be reaching out to you regarding these concerns

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    RateGenius Company Information

    Company Name:
    RateGenius
    Website:
    www.rategenius.com