RateGenius Review

ByMichael GrawDec. 31, 2020
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In a Nutshell

RateGenius makes it easy to refinance an existing auto loan and lower your monthly payments. You get access to a nationwide marketplace of lenders with APRs as low as 1.99%. The downside is that RateGenius requires a hard credit check.


  • Rates as low as 1.99% APR
  • Nationwide lender network
  • Low minimum credit score


  • Requires a hard credit check
  • Loans start at $10,000
  • Limitations on what vehicles qualify
Loan types Auto loan refinancing
Loan amount $10,000 - $100,000
Repayment terms Up to 84 months
APR 1.99%
Minimum credit score 550
Suitable for Refinancing with good credit
Direct lender or marketplace Marketplace

RateGenius RateGenius View Rates


RateGenius is a nationwide marketplace for refinancing your existing auto loan. The company accepts anyone with a credit score of 550 or above and you can be pre-approved for a loan within minutes of applying online. Individuals with good credit scores (above 720) can be offered interest rates as low as 1.99%. RateGenius conducts a hard credit check, so it’s only suitable for serious refinancing inquiries.

Suitable for?

RateGenius helps you lower your monthly auto loan payments by refinancing at a lower interest rate. The company reserves its most favorable interest rates for borrowers with excellent credit. In addition, since RateGenius conducts a hard credit check, you should only use this marketplace if you are serious about refinancing your auto loan.

RateGenius Features

Austin, Texas-based RateGenius was founded in 1999 to help customers refinance their auto loans. The company has a nationwide marketplace of more than 150 direct lenders. RateGenius also offers gap waivers and service contracts when you refinance.

Application Process

You can apply to refinance your existing auto loan through RateGenius online or over the phone. It typically only takes a few minutes to fill out the application with information about your current loan and your vehicle.

RateGenius then conducts a hard credit check and searches for pre-approved offers from lenders in its network. Note that a hard credit check can affect your credit score, so you should only submit an application if you are seriously interested in refinancing your auto loan.

Once you’re pre-approved for a loan, RateGenius will get in touch by phone or email. This typically takes less than 48 hours.

Your new loan documents will be available for signing online through the company’s secure portal, or you can request to receive a physical copy in the mail to sign and return. RateGenius then helps you through the process of paying off your old loan and transitioning you to your new lender, which can take up to a few days.

It’s important to note that RateGenius does have some limitations on who can qualify for a refinanced auto loan. You must have a credit score of 550 or greater, and your vehicle must be under seven years old and have fewer than 100,000 miles.

Loan Types and Terms

RateGenius isn’t a direct lender, but rather a marketplace. So, the terms of your auto loan will depend on the network partner you’re matched with. All loan offers from RateGenius are pre-approved and the company will help you fill out your prospective lender’s required paperwork. Interest rates and loan terms vary based on your credit score, loan amount, and the specific lender you are matched with. Note that you must refinance at least $10,000 with RateGenius (refinancing is available up to $100,000).

  • Interest rates as low as 1.99% APR available
  • Loan terms vary, up to 84 months
  • Minimum loan size is $10,000
  • All loan offers are pre-approved
  • RateGenius will help you fill out paperwork

How Safe is RateGenius?

RateGenius has been around for over 20 years and is generally considered a safe option for loan refinancing. RateGenius has completed more than 378,000 auto loans over its history and claims that it saves borrowers an average of $83 every month on their payments.

The company has an A-rating with the Better Business Bureau and an average 4.5-star rating over more than 2,700 Google reviews. RateGenius benefits when you’re happy with your refinanced loan, so your interests and the company’s are aligned.

RateGenius keeps all of your personal information private and doesn’t share it with lenders who don’t make an offer on your loan application. You can opt to sign loan documents through the company’s secure online portal or send physical documents back and forth using UPS.

Repayment Options

Repayment plans are negotiated with your direct lender, not with RateGenius. Most loans require a monthly payment for between 36 and 84 months. There is never a prepayment penalty for auto loans refinanced through RateGenius.

Help & Support

RateGenius customer support is available by phone, email, or live chat during weekday business hours (US Central Time). The company’s support agents are extremely helpful if you are having trouble finding information for a loan application or need a hand filling out your prospective lender’s paperwork.

Phone: 866-728-3436

Email: hello@rategenius.com

Physical address

RateGenius, Inc.

9300 United Drive, Ste 180

Austin, Texas 78758


RateGenius is a trustworthy auto loan refinancing marketplace where you can instantly get offers from a nationwide network of more than 150 lenders. This company is particularly attractive because it offers competitive interest rates as low as 1.99%. RateGenius also stands out for its customer service—support agents walk you through the transition to a new lender rather than leaving you to fend for yourself. The only downside to RateGenius is that it requires a hard credit check, but this shouldn’t be a problem if you’re serious about refinancing your existing loan.

RateGenius RateGenius View Rates

To compare more financial products and read more guides and reviews, visit BestMoney

RateGenius customer testimonials

GreatReviews 3,757
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  • author
    Greg Nahl
    Jan 01, 2021
    It’s really scam

    It’s really scam. I have very nice credit score over 760 I was in a market for refinancing a car .Have reading reviews and thought it will be good company to try but I was wrong. They sent me offer the same what I have now and they just making more profit for another credit union - make me looks like I’m very stupid. Pulled my credit without sense. Overrated for sure!!!


  • author
    Nov 24, 2020
    Incompetent and Untrustworthy

    These people are like not trained or something, I asked if my spouse could be added on to the loan and they said yes and that they made a note and while waiting for my spouse to put her info in they went through with the process anyways. Then I emailed them asking why they did that, used my claim ID as generated on the site in the subject line, and they replied asking what my claim ID was. Isn’t that how all the emails are received? I just clicked the customer service link and it filled that out for me that way. Incompetent, honestly. Not comfortable with them having my information.


  • author
    Sep 03, 2020
    beware of this company

    beware of this company. they are just third party brokers and sell your information to banks. customer service is mediocre . do not do business with this company you better off going straight to your bank.


  • author
    K Ab
    Jun 26, 2020

    HORRIBLE! I started my experience with this company mid-March 2020. I started the refinance and it seemed like it was going to go very well. The first few steps went smoothly, and then it was time to sign the contract and get documents notarized. Sent all of that in thinking it was good to go - then was told I need an additional document that I needed to type up MYSELF and get notarized. So I typed something up, got the wording approved and got it notarized and sent. Loan officer received the document she approved and told me the wording was no good. Had to do that piece over again - another notary. More than 60 days passes - I reach out and ask where we are with the process - no answer for 2 days, then an email asking me if I still want to move forward. I'm then told that my credit has to be hit again. When I question this I'm given the excuse of COVID - but I asked why there isn't an extension on time frames due to COVID and why I have to go through the whole process again when the errors and lack of communication were the company's fault. No answer to that. I said ok, let's do this. Starts the process over, my credit gets hit again within 30 minutes of me saying do it - then nothing from my loan officer. I waited a week, radio silence. I called my loan officer and was told that the financing company hasn't run my credit yet. I inform the loan officer that they did because it's on my credit report again. She said she'd call them - she calls me back a day or so later - yes they ran my credit (same company as before) and yes I'm approved - BUT after more than 60 days, she just learned that I'm going to have to take the loan out for more because of this/that. WHAT?! At this point I can't even think straight. I tell her to get things in order and then there was another stipulation about the title. I couldn't take it anymore - I went to a dealership, talked with a salesman - and walked out with a new car. That was a week ago - since then I've been trying to contact loan officer to stop the process. Numerous calls unanswered. I called the main line and told whoever answered the phone that I wanted to cancel and how to get my money back for a service I'm not going to utilize. She laughed at me because I wanted my refund (granted it was a minuscule amount - but it's my money that I'm getting nothing for so I want it back!). Told me someone would call me in 2 hours... that was 2 days ago. I'm approaching 4 months of dealing with this company and every step after the first was painful and drawn out. And radio silence all over the place. Horrible experience - would never use.


  • author
    Thomas Jones
    Jul 18, 2020
    Round 3

    Round 1 Trust -- If you have plenty of time and much effort! I do have to say is the worst experience I've ever had! After reading the reviews on their site and interacting with them, I e-mailed and cancelled my so called loan April 18th with the actions of shredding all of my written and sent information through the internet. I was "jerked around" by Rate Genius that more documentation is required from from Aaron Burlingame who was supposed to be my loan officer. I have interacted with him and others via Rate Genius at least 6 times in the past week asking for more and more information. After sending documents back and forth, I decided to terminate my application, having them lost somewhere and having to resend them -- a valuable lesson learned. There's a hard hit on my credit now for nothing...except a valuable lesson learned! I am monitoring my credit report very carefully at this point. I wouldn't take a chance if you're looking to refinance an auto loan through Rate Genius! Round 2 Well, Rate Genius has been in contact with me regarding my application last Friday and wanting to re-negotiate my application. So, I filled out other papers, sent an immediate pdf to them via web browser -- filled out other papers and sent them UPS overnight. It is now Tuesday and I have not heard anything. Guess I will have to wait and see what occurs! Round 3 Well after considerable back and forth discussion and documents moving around, I finally was approved for an auto refinance loan. The original auto loan was paid for through Rate Genius and the refinanced loan saved me nearly $100 a month.