RateGenius at a Glance
· Marketplace connecting consumers with lenders
· 100% online application process via an online platform
· Comprehensive website with multiple sources
· Reliable multi-channel customer support available Monday through Friday
RateGenius Overview
RateGenius offers a streamlined online application process for loan refinancing. You can access the website from any device and submit a loan application in a few minutes. If you need help along the way, you can contact the support team at any time via live chat or phone. RateGenius quickly analyze the information in your application and provides options you qualify for. It will recommend the lenders with the best rates that fit your needs.
Who Is This Service Good for?
This is a good solution if you’re looking for a fast and simple auto loan refinancing solution. According to this broker, its refinancing partners help customers drop their monthly payments by an average of $96 per month.
Usually, the company offers loan refinancing options that have the same term as the initial loan. So, you will pay off your loan within the same timeframe.
What Does RateGenius Offer?
RateGenius is a marketplace that pairs customers looking for an auto loan refinance solution with various lenders. The broker has an extensive network of more than 150 lenders. It helps people access loan refinancing for cars, SUVs, trucks, or motorcycles. RateGenius offers a fast and straightforward application process and reliable customer support, along with a resource-rich website.
How to Apply
Applying for an auto loan refinancing program via RateGenius only takes a few minutes. You just need to access the company’s website and click the Apply Now button on the home page. Then, you’ll have to choose your auto loan refinancing goal; there are four available options
1. Lower your monthly payment
2. Lower your interest rate
3. Take another person off the loan
4. Simply check the options you might qualify for
Next, you’ll have to answer a series of questions starting with the year of your vehicle. Most lenders only agree to refinance cars that are less than ten years old. Your car’s make will also be required, as well as the model, mileage, and trim. Then, you’ll have to provide more details regarding your loan, including your current monthly payment and auto lender. Finally, you’ll have to fill out your personal details. The required information includes your
· Name
· Adress
· Phone number
· Date of birth
You also have to mention if you apply alone or with a co-buyer. After you submit the application form, the RateGenius team will work fast to provide you with an auto loan refinancing solution that fits your needs. If your application is approved, you will get feedback immediately by phone, email, or text, and you will receive an offer with your new interest rate and monthly payments.
The company might also look into your credit history before accepting your application. There is no explicit minimum credit score requirement. However, RateGenius usually works with clients with a minimum score of 550. To apply, you have to be at least 18 and provide your vehicle’s identification number, as well as your social security number.
You will get an offer within 24-48 hours unless your application is denied. Funding usually becomes available in 1-7 days after the application approval. It’s also possible to get a new loan within 24-48 hours from your application.
RateGenius Loan Refinancing Terms and Rates
When it refinances loans, RateGenius usually applies the same loan term as the amount of time you currently have left from your ongoing loan. Each new loan’s terms and rates vary depending on the lender you choose. Lenders offer rates as low as 1.99% APR. The loan terms may vary, with the maximum term reaching 84 months.
Repayment Options
RateGenius is not a direct lender. The broker’s job is to help you find a loan refinancing option that offers a lower interest rate, so you end up making smaller monthly payments. According to their data, RateGenius clients manage to pay on average $96 less each month for their car loan.
The monthly payments might also comprise processing fees. However, the advantage is that the broker doesn’t charge an application fee.
RateGenius Reliability
RateGenius has an A+ rating from the Better Business Bureau (BBB). Usually, the company enjoys positive customer reviews. It has a 4.5 out of 5 stars rating on Trustpilot from 3,844 reviews.
RateGenius Customer Service
If you need help from RateGenius, the fastest way to get in touch with an agent is by phone at 866-728-3436. You can also use the live chat bubble located in the bottom right-hand corner of the website. Phone support is available Monday through Friday from 7 AM to 8 PM CST and Saturday from 9 AM to 5 PM.
Live chat support is available Monday through Saturday from 9 AM to 5 PM CST. You can also contact the company by email (hello@rategenius.com) and check out the FAQ section to learn more about auto loan refinancing through RateGenius.
Physical Adress
RateGenius, Inc.
9300 United Drive, Ste 180
Austin, Texas 78758
Conclusion
RateGenius is a good solution if you don’t have time or patience to start looking for auto loan refinancing options on your own. Based on a form you can complete in five minutes, the company matches you with the best lenders for your needs. If you have a good credit score, you can get new loan interest rates as low as 1.99%.