4.5/5 (72 reviews)

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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.

    Pros & Cons


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


    • 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
    Verified Reviewer Verified Buyer
    Original review: Feb. 2, 2023

    My experience was a little spotty. The initial guy was pretty good but he was off for a few days and had a secondary step in his place. That's when a lot of the misinformation started. I kept getting them the information they wanted but they kept wanting to change the information facts that they wanted. At one point, they even told me that I didn't send them what they requested even though I verified everything step by step with their emails. They even misquoted the rate they initially promised. I was infuriated with them until they were able to put me with the lender I needed to deal with.

    They could have done more communication on their part. Instead of just saying I have someone helping me, they could have communicated with each other on what had been done and what needed to be done. Other than that, they were able to give me a better percentage. The refinance was successful.

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    Verified Reviewer Verified Buyer
    Original review: Feb. 2, 2023

    RateGenius was the second number I called when I started that journey. They were the ones who initially got me approved but not for the rate that I wanted. So, I stuck it out a few more months, called RateGenius back. But once everything was finished, it got iffy. Everything got finalized at the end of December. The rep sent me a message, “Your first payment will be due February 1st.” Turned out it was January 2nd, a few days after it was refinanced. And I was over 17 days late on my first payment because there was a miscommunication. So, the wording of when my car would actually be due was not correct. And even if it was on his end, he wrote 23-1-2. So, it is correct for the way that he wrote it, but at the same time, it was a few days after the car was officially refinanced. And it was very confusing for someone who has dyslexia. That is something that needs to be worked on if that's a way in their company to spell out the month.

    I got a late fee. And they told me not to worry because they don't count the payments late until they're at least 30 days over. But for me who's never had a late payment in the last seven years working on my credit, I'm freaked out. As soon as I discovered I was late, I paid it that same day. And I told them that their automated system sucks so bad. They wouldn't even tell me what my due date is. It's a bland automated thing. And it's, “Reach back out to us on the same number.” I finally had to Google another number. I talked to them. They were nice. I told the rep, “You guys are so much better than your automated system. Throw that whole thing away. Let me go ahead and pay this because I'm late, apparently.” They charged me the late fee, but I didn't know that was the day that was due. It could have just been one simple conversation fix-it. Other than that, they followed up. Gabriel was friendly and informative.

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      Verified Reviewer Verified Buyer
      Original review: Jan. 19, 2023

      RateGenius had the rate that I could go for and the payments I was looking for. They were very, very, very helpful with getting things together. I had a couple of problems with my insurance company, and they wanted to upcharge me $700 more a month. When I called back to RateGenius, the rep said that they've had problems with that insurance company. So I asked for a better place and he provided me with one. I not only saved with my refinance, I also saved on my insurance. So he was very, very helpful.

      The application process took about two weeks. Everything was pretty cut and dry as much as possible. Everybody at RateGenius was extremely helpful with getting things together for me. I went through Money One Federal Credit Union and everything's going great so far. It was very quick. It took about three weeks to get everything transferred over from my other financial institution to this one. But it wasn't bad at all.

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      Verified Reviewer Verified Buyer
      Original review: Oct. 5, 2022

      The first time I went through RateGenius, they were very informative. They found me a great rate. I very much enjoyed their service. Their rep was very informative. He was a really nice guy. He worked with me. I was in the process of moving, so he told me what I needed to do in order to get the loan. I had to register my truck through the state that I was in. Then from there, my loan was approved within days. He got everything squared away. He was very much on the ball.

      The total process went over a course of about 10 days from the beginning, from the quote, all the way to getting all the information, turning everything in, and getting a contract signed. Because my wife was in Las Vegas, I had to receive the contract, sign them, and then send them over to Vegas for my wife to sign them. Then we had to send them to the lender. So, it took a little bit longer only because we had an extra step in there. In the end, if I hadn't set up automatic payments, I would have no idea where to pay my payments. I would have been late on my first payment and that's not a good thing. It wasn't a big deal but I received my welcome letter from the bank after my payment was due, so it was kinda hard for me.

      Working with RateGenius lowered my payments and the interest rate that I ended up receiving saved me thousands, so I couldn't be happier. When I first bought the truck back in 2019, I ended up getting a six-year loan. I was two and a half years into my loan. The loan that I got was for the remaining of the same amount of time that I took from when I first got the loan, and it dropped my payments $200 and saved me interest. Probably, I was at a 12%, and now I'm at a 3%. So, I had saved like 9%.

      RateGenius response

      Hello Kelan! Thank you for being so willing to recommend our services. Our team works diligently to provide an excellent experience for all of our customers. We would love to hear from you again in the future with any other potential refinancing needs!

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      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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      Verified Reviewer
      Original review: May 18, 2023

      I had the pleasure of Garrett refinancing my auto loan. He helped me every step of the process and was always positive and patient with me even when I was nervous. Garrett provided me with all paperwork in a timely manner and remained patient even when I was nervous about notary due to my finances being late. He even recommended different places that could assist with notary. He ensured me we had time and it all worked out. You can’t buy that type of professionalism and reassuring. Garrett is the consummate professional and it was an honor to work with him. He has helped me save money and provided his information at work so I can always keep in touch if I had follow up questions. He is a great person and asset to his company

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      Verified Reviewer Verified Buyer
      Original review: March 22, 2023

      I talked to a guy over the phone and he was great the whole time. Every question that I had, he had honestly great thorough question for it. So it was pretty well.

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      Verified Reviewer
      Original review: March 17, 2023

      Responded online to a letter received. I was contacted by Solomon **. I sent documents requested. I signed documents online. Everything was fast, smooth and easy. In less than a week, it was funded.

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      Verified Reviewer Verified Buyer
      Original review: March 16, 2023

      The RateGenius gentleman I had was fantastic. He knew exactly what was needed, and I met him where I work in the field through, so I get where he's coming from. He answered any questions I had. Any time I texted him, he’d reply within 24 hours, or usually, a lot sooner than that. He was always on top of it. The closing took a little bit longer than I expected, but I wasn't giving it a huge push until towards the end. It took about three weeks, but most of the problem was with the secretary of state. The application was very easy. I had everything up there within a day or two.

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      Verified Reviewer Verified Buyer
      Original review: Feb. 15, 2023

      My representative Darius ** was always available, always kept moving things along, and was a huge help during the refinancing process. This wouldn’t have been possible without his diligence. I’d definitely recommend this service to anyone looking to refinance their car loan.

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