RateGenius review
Refinance platform with a large lender network and a clear explanation of soft and hard credit checks. Borrowers who want a large lender network and a clear explanation of how their credit will be checked. We rank it #1 of 8 in our auto loan refinance comparison, with an editorial score of 9.1 out of 10.
RateGenius scores highest on Credit check transparency because its credit check FAQ explains that prequalification and prescreened offers use a soft inquiry and that submitting an application triggers a hard inquiry. It also does well on Lender access & flexibility thanks to a network of more than 150 lenders, and on Borrower support for its title information and paperwork help. It loses a little on Cost & fee transparency because it does not publish a rate or fee range.
How we score auto loan refinance
Visit site (RateGenius, opens in a new tab)Quick facts
Overview
RateGenius is a nationwide vehicle refinance platform, not a lender. Its site says it works with a network of more than 150 lenders, and you can apply online or by phone, choose a loan from the lenders it finds and finalize the loan online or by mail.
Its credit check FAQ is one of the clearest we found. It says RateGenius uses a soft inquiry to prequalify you, and for prescreened mail offers, but performs a hard credit inquiry when you submit an application online or by phone. It also notes that a few lenders may check your credit after RateGenius's initial check.
RateGenius does not publish a rate range or a fee schedule on the pages we reviewed. Its site says rates are for well-qualified borrowers, may not be available in all states and depend on income, debt-to-income and vehicle restrictions such as loan-to-value, age and mileage. It also offers service contracts and GAP waivers, which are optional add-ons.
Pros and cons
Pros
- Clear explanation of when each credit check happens
- Large lender network
- Help with title transfer and paperwork
Cons
- No published rate or fee range
- Submitting an application triggers a hard inquiry
- Add-on products are offered during the process
Key features
- Network of more than 150 lenders, per its site
- Soft inquiry to prequalify; hard inquiry when you apply
- Apply online or by phone
- Title and paperwork guidance
- Optional service contracts and GAP waivers
Who RateGenius is for
A good fit if
Borrowers who want a large lender network and a clear explanation of how their credit will be checked.
Look elsewhere if
Anyone who wants to see a published rate range or fee schedule before starting.
How we scored RateGenius
RateGenius scores highest on Credit check transparency because its credit check FAQ explains that prequalification and prescreened offers use a soft inquiry and that submitting an application triggers a hard inquiry. It also does well on Lender access & flexibility thanks to a network of more than 150 lenders, and on Borrower support for its title information and paperwork help. It loses a little on Cost & fee transparency because it does not publish a rate or fee range.
Our auto loan refinance score weighs credit check transparency (25%), cost & fee transparency (25%), lender access & flexibility (20%), eligibility clarity (15%), borrower support (15%). See the methodology.
RateGenius alternatives
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#2
RefiJet
Best for published requirementsConsultant-led refinance service that publishes its rate, term and eligibility ranges up front.
- Published APR, term, amount, credit score and income ranges
- Terms up to 96 months
- No fee to apply, per its site
- Possible payment deferral of up to three months
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#3
Auto Approve
Best for flexible termsRefinance service with soft-pull quotes, long term options and a deferred first payment for some borrowers.
- Soft inquiry to quote; hard inquiry only if you move forward
- Quote without a Social Security number, per its site
- Terms typically 12 to 96 months
- Refinances cars, trucks, SUVs, motorcycles and RVs
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#4
myAutoloan
Best for comparing offersAuto loan marketplace that returns up to four prequalified offers from one form.
- Up to four prequalified offers from one form
- Soft inquiry by myAutoloan; lenders may run soft or hard
- Free to use, with no obligation to accept
- Refinance, purchase, private party and lease buyout loans
Head-to-head
RateGenius FAQ
Does RateGenius do a hard credit check?
RateGenius's credit check FAQ says it uses a soft inquiry to prequalify you, and performs a hard inquiry when you submit an application online or by phone. Some lenders may also check your credit later.
Is RateGenius a lender?
No. RateGenius describes itself as a vehicle refinance platform that works with a network of partner lenders. The lender sets the rate and terms.
Is RateGenius related to AUTOPAY?
Both RateGenius's and AUTOPAY's sites carry a copyright line for The Savings Group, Inc., so they appear to be part of the same group. Compare their offers as you would any two companies.
Sources and fact check
We checked the facts on this page against RateGenius's own website on .