What is Caribou Auto Refinance?
If lowering your monthly car payment would help you better manage your finances, then refinancing your auto loan is worth considering.
Since 2004, Caribou Auto Refinance has been helping individuals save money on their cars through refinancing options that lower interest rates or payments. It also has a car insurance marketplace where car owners can shop for affordable plans.
Caribou Auto Refinancing works with many different lending partners to provide car refinancing loans. For example, you could find a loan that shortens your payment term, getting you to full ownership of your car sooner. Or you could find a loan that reduces your monthly payment, improving your cash flow. Or you could find a loan that lowers your interest rate, saving your money over the life of your loan.
Caribou has been in business since 2004. It is headquartered in San Diego, California, but you can complete your loan application online from anywhere. It has helped more than 85,000 people find loans with better terms.
How Does Caribou Auto Refinance Work?
Caribou works by matching borrowers with lenders who can offer them a car loan with better terms than their existing loan.
The process is simple. First, share some basic information about your car and your existing loan. Then, Caribou will use that information to find competitive loan options that fit your needs. You don’t even need to enter your social security number for this step.
Next, review your loan offers to see which is the best fit for you. If you have questions, reach out to Caribou’s customer support team. They are happy to provide guidance.
Then, select a loan to apply for. Caribou has a secure portal for submitting the documents necessary to complete your loan application. First, you’ll provide documents to verify your identity and your income. You’ll also submit your social security number and more information about your vehicle.
Once approved, you’ll e-sign your loan agreement, and Caribou will work with your new lender to pay off your old loan and establish a new payment schedule. On average, Caribou customers save $110 per month on their car payments.
What Makes Caribou Auto Refinance Different from Other Companies?
Caribou Auto Refinance’s mission is to make car ownership less expensive. They specialize in auto refinance loans. Rather than helping people in the market buy a new car, Caribou helps people making payments on a vehicle to lower their monthly obligation or find a loan with more favorable terms.
Caribou Auto Refinance also offers an insurance marketplace through its website, so it can also help you find more affordable insurance. Caribou has experts available to provide guidance throughout the process of refinancing your auto loan and selecting your insurance.
What are the Benefits of Using Caribou Auto Refinance?
Caribou Auto Refinance provides its customers with convenience, savings, and support.
You can find and apply for an auto refinance loan through its secure website, and it takes only a few steps to complete your application. Because the Caribou website is secure, you can apply from anywhere, knowing your information is safe.
Caribou provides you with several auto refinancing options, which could save you money. For example, you may be able to lower your interest rate, reducing the total amount you pay for your car. And the average Caribou customer reduces their car payment by $110 per month.
Caribou also has insurance experts and a customer support team who can help you make sense of your options, so you can feel confident that your loan and insurance coverage make sense for your specific needs.
Can You Get a Better Rate with Caribou Auto Refinance Than Your Current Lender?
Yes. Caribou specializes in auto loan refinancing. It can connect you with a better loan option for your car. After you share a few details about your vehicle and your current monthly payment, Caribou will give you several loan options to consider. You can review the details of each and apply for the one with the best terms—often better than your current loan.
Who Should You Use Caribou Auto Refinance?
If you need a lower monthly car payment or get a car loan with more favorable terms, Caribou Auto Refinance can help. It only takes a few minutes to discover what loan options it can make available to you.
Caribou can also help you find a car insurance plan that fits your budget and gives you the coverage you need.
How to Get Started with Caribou Auto Refinance
To get started with Caribou Auto Refinance, simply visit its website and fill out the short form. You provide:
- A few details about yourself
- Some information about your car
- A bit of basic financial information
After that, you’ll receive several loan options to choose from. Then, you can proceed to apply for the loan you like best through the Caribou website.