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rateGenius Auto Refinance Review
ConsumersAdvocate.org
12 Customer Comments & Reviews - see all comments
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Founded in 1999 and headquartered in Austin, Texas, rateGenius is a nationwide online broker that specifically caters to auto loan refinancing. The web portal features a savings calculator and free quotes from over 150 loan refinancing lenders across the country. Customers of rateGenius save an average of $89 a month when they refinance their car, truck, SUV, or motorcycle.
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12 Customer Comments & Reviews
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This is my second review. This one is about canceling the service warranty and GAP insurance 3 days after my 60 day window expired. My GAP insurance $895) and service warrant ($1623) was financed with my car loan with Air Academy. The cancelation process was to take 4-6 weeks. While I did receive a refund to my car loan account, it was $404.45. No explanation was provided as to how that $ was arrived at or what happened to the remaining $2,000. It looks like, once again, RateGenius has failed to explain their exorbitant fees and why I paying for $2,000 of air as the "products" were fully canceled.
I contacted RateGenius again to refinance my auto loan with a different bank. The agent processed all my documents and initiated a credit check and then went silent for almost two weeks. After I called a support line I came to find out that there was no way I could refinance the same Car a second time with RateGenius which the agent failed to explain and check before even starting the process. As a result, I have another hard pull on my credit history and will have to do that again to refinance my loan with another company. This is terrible customer service!
Was just looking for rates for a lease buyout.
This company ran a hard credit check withouy my permission. Then did not even quote me a rate
I really like my Sales-Rep with RateGenius. However, that's where the praise will end. I agree with others on this string, they are a broker for several lenders and they all pull your credit. I've been dealing with them for over a month and I still have no idea if I have a refi loan or not! They initially gave me a great rate at 2.77 % but then it was more like purchasing a house instead of a car refi. I have very little debt, family income with multiple six figures, over 700 credit score and they keep asking for more an more... It's totally ridiculous ! I finally, just told my Rep, I'd rather just pay the damn thing off in full than go through this BS, with a car that is half way paid... Read More
Never do business with this company. 1. They say they won't affect your credit score - highly deceiving because if you look into the fine print they WILL pull a hard inquiry. (see marketing email I attached - submitting to the CFPB as a deceiving practice) 2. They will take several days to even contact you saying there are rates avail. I had to call my agent over 10 times before I even got to a live rep. 3. I have an 800+ credit score with a vehicle worth 20k. They offered a horrible rate that made the payment lower but a super high APR - typical dealer scam. 4. When speaking to customer service through their online web chat - they will disconnect on you multiple times if you... Read More
THIS COMPANY,THEN THAT I MAKE MY APPLICATION AT THE BEGINING OF THIS MOUNTH OF JUNUARY,THEY RESPOND TO ME ON JANUARY 8 THAT MY VEHYCULE RAFINING HAS BEEN APPROVE BY TROPICAL FINACIAL CREDIT UNION ,PRODECING TO SIGN ALL THE DOCUMENTATION REQUIRE FOR THEN AND SENDING THE REQUEST DOCUMENTS,BUT NEVER THE LESS TODAY JUNUARY 15-2021,THEY SEND ME A MESSAGE THAYT I WAS NO ACCEPTED, IT IS A DECEPCION,WASTE OF TIME IN ADDITION TO THE FACT THAT THEY RAN MY CREDIT......I AM NOT SATISFFIED WITH THIS COMPANY RATEGINIUS
Do not give them everything they ask for. They do not need a high-resolution image of your drivers license. They do not need personal references. Do not pay "one time fees" AFTER they get all your signed and notarized documents. This information can be "sidetracked" by individuals for non-company use like identity theft or sold for advertising. What will you do? Go to Texas to file a claim?
They advertised rates they cannot supply. So now I have an inquiry for credit on my credit report, which lowers your FICO score, and they cannot get me a lower interest rate then I already have. Beware...they cannot stand by what they are advertising
In my opinion this company uses deceptive advertising practices to entice people to unwillingly agree to run credit checks without making it perfectly clear the effect of their actions. All of a sudden my credit report is hit with three auto loan inquires that I did not request there for adversely effecting my overall credit score. This is totally not acceptable. Reminds me of a bait and switch sleazy used car salesman. Crooked sales approach just to screw people from trying to get ahead. Thanks for nothing,
They helped us save a lot money .Fast great customer service they did offer us gap and extended insurance but no pressure. We are very satisfied with them...
Top Rated
Our Partner
- Save thousands on your Auto Loan within minutes!
- Skip up to 3 car payments
- Average savings of $138 per month
- National lending network with competitive rates
- $0 out-of-pocket cost