- Works with local and national lenders to get you a suitable rate
- Pre-apply and check your rate in minutes
- Loans up to $100,000
- $399 origination fee
- Late fees vary by lender
Has learning resources, access to rates, mobile app
Customer services and support
Multiple ways of reaching lender but limited hours
Offers multiple loan types
Offers multiple repayment plans- but no special repayment programs
Eligibility (credit score)
Doesn't cover bad credit
Caribou is most suitable for car owners who are looking to refinance with the lowest possible rates. It partners with dozens of local and national lenders to bring you competitive rate offers and loans up to $50,000. While the most suitable rates are reserved for borrowers with excellent credit, Caribou allows you to add a co-borrower to improve your offers. Caribou is available in 42 states.
Caribou only offers auto refinance loans, not loans for vehicle purchases. Too many people ended up with a rough deal on their initial car loans, and have felt powerless to change that. At Caribou, refinancing your auto loan is a simple, transparent process. Their dedicated customer support and partnerships with top local and community lenders, bring customers great rates to lower monthly payments. This ultimately saves customers an average of $100 per month on their car payments with interest rates as low as 1.49%. You can easily prequalify for multiple offers to compare from different lenders before deciding on a loan.
- See rates without a credit check or social security number
- Compare offers from multiple lenders
- Fully online application
- Customers save an average of $101 per month
To get started with Caribou, enter information about yourself, your vehicle (including the VIN), and your credit score in the online pre-application. You don’t need to enter a social security number or agree to a credit check. Caribou will find rate offers from multiple lenders and allow you to easily compare monthly payments.
If you find an offer you like, you can complete the application process online in less than 30 minutes. Caribou allows you to easily upload supporting documents like paystubs. And, depending on your offer, you may have the option to add an extended vehicle protection policy to your loan.
Loan Types and Terms
Caribou offers auto refinance loans up to $100,000 with rates as low as 1.49% interest. Note that all loans carry a processing fee of $399, regardless of the size of your loan, but is more than made up for by the savings generated.
- Minimum credit score of 580
- Minimum annual income of $24,000
- Allows co-borrowers
- Not available for motorcycles or commercial vehicles
Caribou loans come with terms from 24-84 months You can compare loan offers to choose the term that’s right for you.
How Safe Is It?
Caribou partners with Equifax and Carfax to ensure the loan offer process is as straightforward as possible. In addition, the company uses DocuSign for document processing, and the online application is secured with SSL encryption. Caribou is accredited by the Better Business Bureau and has an A- rating.
Help & Support
If you need help with your auto refinance, Caribou offers support by phone and email from 9 am–9 pm (ET) Monday–Thursday and 9 am–7 pm Friday. Keep in mind that your loan is arranged through a third-party servicer, so you will need to contact your loan provider directly for questions about payment.
How Caribou Compares
|Minimum credit score||580||550||575|
|Loan term||24–84 months||24–84 months||24–84 months|
|Suitable for||Auto refinancing with low rates||Borrowers with poor credit||Lower monthly payments|
Caribou streamlines the process of refinancing your auto loan and makes it easy to get the lowest possible rate. You can compare offers from multiple lenders without a credit check and without submitting your social security number. If you want to go ahead with an offer, you can complete the application process easily online. Caribou offers loans up to $100,000 and saves customers an average of over $100 per month on car payments.
Caribou, 1717 Rhode Island Ave, NW Suite 500, Washington DC 20036