RefiJet Auto Loan Refinancing Overview
RefiJet connects borrowers with lenders offering auto refinancing and lease buyouts. It guides finance experts throughout the process.
Key Details
- Loan amounts: Not specified
- Rates: From 5.24% APR
- Credit requirements: Not disclosed
- Funding time: As soon as 1 business day
Best For
RefiJet stands out for borrowers who want extra guidance while shopping for the best auto refinancing rates. Its team of advisors can walk you through the process.
READ ALSO: iLending: 2024 Auto Loan Refinancing Review
How RefiJet’s Auto Refinancing Works
After submitting an online inquiry, a RefiJet financing expert reaches out to discuss options. They help select the best loan offer if you qualify with one of RefiJet’s lending partners.
Getting Matched
A personal finance pro contacts you after submitting the interest form. They access your info and credit to match you with potential lenders from the RefiJet network.
Pros and Cons of RefiJet
Pros
- Pre-qualify to view rates
- Payment-free period
- Guidance from finance pros
- Cash-out options
Cons
- Not available nationwide
- Unclear credit requirements
- Extra fees possible
How RefiJet Compares
We looked at RefiJet next to two similar lending marketplaces:
RefiJet vs. LendingClub
- Advisors: RefiJet provides dedicated finance guidance, LendingClub does not
- Loan types: LendingClub offers more like personal loans
RefiJet vs. AutoPay
- Company history: RefiJet founded in 2015, AutoPay created in 2018
- Transparency: AutoPay discloses starting rates, RefiJet does not
Refinancing Loans From RefiJet
RefiJet connects borrowers with refinancing loans and lease buyout financing options.
Auto Refinancing
Lower your rate or payment by refinancing your existing car loan.
- Amounts: Not specified
- Terms: 24-84 months
- Rates: From 5.24% APR
Lease Buyouts
Take over your lease by financing the remaining balance instead of turning in your car.
- Amounts: Not specified
- Terms: Varies
- Rates: From 5.24% APR
How to Apply for RefiJet Financing
Here are the steps to getting an auto refinancing loan through RefiJet:
- Inquire online: Fill out interest form or call to connect with a RefiJet advisor.
- Get matched: Finance pro finds you the best loan options from RefiJet lenders.
- Formally apply: Work with advisor to submit application and required documents.
- Get approved: Finalize loan requirements directly through matched lender.
Fees to Expect From RefiJet
Typical RefiJet fees include:
- $495 processing fee
- Origination fees from lenders
- Late fees
No prepayment penalties.
To Recap
RefiJet simplifies comparing personalized refinancing rates across an established network of lending partners. Its team of finance advisors provides exceptional guidance, especially for hesitant borrowers less comfortable navigating the process alone. Just confirm you understand all fees upfront and ensure the matched loan offer beats your existing terms.
FAQs
What types of credit does RefiJet work with?
RefiJet doesn’t disclose precise minimum scores or standards. But it indicates it works with a range of credit profiles, including some challenges.
Does RefiJet service all states?
RefiJet doesn’t specify availability by state. Check with a finance advisor about licenses and services in your location when inquiring about pre-qualification.
Can I take cash out when I refinance?
Yes, some RefiJet lending partners do offer cash-out refinancing. This lets you tap into your car’s equity and take those funds out as cash.
In another related article, Ally 2024 Auto Loan Refinancing Review: Rates, Pros & Cons
