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Caribou Review

Reviews 601
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Reviews 601
Michael Graw
May. 18, 2023
4 min read
Michael Graw
Caribou Summary
Caribou is a secure, digital platform that makes it easy to refinance your auto loan. The company works with many national and local lenders to help you find a suitable rate and does all the work of coordinating your refinance. It doesn’t impact your credit score to check your rate³, and you can complete the application process online. Caribou refinances most cars, trucks, and SUVs but does not offer loans for motorcycles or commercial vehicles.


  • Check your pre-qualified rate in minutes
  • Save an average of 4.7 percentage points on your APR²
  • A+ BBB Rating


  • $399 origination fee
  • Late fees vary by lender

Caribou at a glance

Editorial score

Online experience

Has learning resources, access to rates, mobile app

Customer services and support

Multiple ways of reaching lender but limited hours

Loan Types

Offers multiple loan types

Repayment Flexibility

Offers multiple repayment plans- but no special repayment programs

Eligibility (credit score)

Doesn't cover bad credit

Caribou Caribou Visit Site

Suitable For?

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 $125,000. 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 44 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 $113.78 per month¹ on their car payments with interest rates as low as 4.99%*. 

You can easily prequalify for multiple offers to compare from different lenders before deciding on a loan. In addition, when you refinance through Caribou you can save an average of 4.7 percentage points on your APR of your car loan.

  • See rates without a credit check or social security number³
  • Compare offers from multiple lenders
  • Fully online application
  • Customers save an average of $113.78 per month¹
  • Customers save an average of 4.7 percentage points on your APR of their car loan

Application Process

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 offers from multiple lenders and allow you to easily compare loan options.³

If you find an offer you like, you can complete the application process online. 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 $125,000 with rates as low as 4.99%* 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

Repayment Options

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 Monday - Friday 9am - 8pm EST
Saturday - Sunday 9am-4pm EST. 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.

Phone: 1-877-445-0070


How Caribou Compares

Minimum credit score580550575
Loan amounts$5,000–$125,000$12,000–$100,000$5,000–$99,000
Loan term24–84 months24–84 months24–84 months
Suitable forAuto refinancing with low ratesBorrowers with poor creditLower 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.³ If you want to go ahead with an offer, you can complete the application process easily online. Caribou offers loans up to $125,000 and saves customers an average of over $113.78 per month¹ on car payments.

Physical Address

Caribou, 1717 Rhode Island Ave, NW Suite 500, Washington DC 20036 

Caribou Caribou Visit Site


* APR is the Annual Percentage Rate. Your actual APR may be different. Your APR is based on multiple factors including your credit profile and the loan to value of the vehicle. APR ranges from 4.99% to 28.55% and is determined at the time of application. Lowest APR is available up to a 36 month term, to borrowers with excellent credit, and only in certain states. Conditions apply. Advertised rates and fees are valid as of 2/22/2023 and are subject to change without notice. Insurance savings will not result from lower APR.

¹ This information is estimated based on consumers who were approved for an auto refinance loan through Caribou between 6/1/2022 and 3/1/2023, had an existing auto loan on their credit report, and accepted their final terms. These borrowers saved an average of $113.78 per month. Refinance savings may result from a lower interest rate, longer term, or both. There is no guarantee of savings. Your actual savings, if any, may vary based on interest rates, the repayment term, the amount financed, and other factors.

² This information is estimated based on consumers who were approved for an auto refinance loan through Caribou between 3/1/2022 and 3/1/2023, had an existing auto loan on their credit report, and accepted their final terms. These borrowers saved an average of 4.7% on their interest rate. There is no guarantee of savings. Your actual savings, if any, may vary.

³ To check the refinance rates and terms you qualify for, we conduct a soft credit pull that will not affect your credit score. However, if you choose a loan product and continue your application, we or one of our lending partners will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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Trustpilot reviews
See what some customers are saying about Caribou
Excellent • Reviews 601
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Rachael Collet
2 months ago
Absolutely the best and easiest credit…
Absolutely the best and easiest credit union to work with Mr Paynter, went out of his way made everything so easy for me and was very quick , very professional ,courtesy and most of very friendly Thank you I /15/2024
Dabbing Dad
3 months ago
Great service
Great service, super quick and friendly they helped me through the whole refinancing process and I would highly recommend to anyone who is trying to refinance! My loan officer Jeremy Paynter was amazing I recommend his services
Bruce Atwood
3 months ago
Great Team
Quick responses and were very knowledgeable.
Kathy Weinberg
3 months ago
Experience was very professional
Experience was very professional, polite, and quick! My Loan Officer Tim was informative and very helpful. I would definitely recommend!!!!
Scotty Phillips
4 months ago
It was so simple to do
It was so simple to do! It made great sense!