Are you tired of spending a fortune each month on your car payments? Or maybe your financial situation has improved since you initially applied for your current auto loan. Either way, refinancing could be a viable option to lower your monthly payment or secure a more attractive interest rate. Consider RefiJet to lend a helping hand and make the refinancing process seamless.
What is RefiJet?
Headquartered in Colorado, RefiJet is an online lending marketplace that matches consumers looking to refinance their auto loans with lenders who can assist. Its lending partners offer tailored solutions for consumers with varying credit and financial backgrounds. At the forefront of its mission is the goal of fostering a seamless refinancing process by leveraging technology and providing exceptional customer service.
RefiJet was founded in 2010 by a team of auto finance experts who recognized the need for a streamlined refinancing solution. Their goal was to simplify what can often be a tedious process by offering quick approvals, flexible terms, and a completely online application. Through partnerships with top lenders, RefiJet is able to provide competitive rates and get customers approved and into a new loan within days.
With over 100,000 customers served since its launch, RefiJet has proven itself to be a leader in the auto refinance industry by consistently delivering an excellent customer experience from start to finish of each refinance.
Is RefiJet a Direct Lender?
No, RefiJet is not a direct lender. Instead, it facilitates connections between borrowers and lenders. RefiJet prides itself on working with a wide range of the most reputable lending institutions in the auto refinance industry.
By leveraging relationships with banks, credit unions and other financial services companies, RefiJet is able to obtain competitive refinance offers from multiple lenders and identify the best refinance option explicitly tailored to each customer’s needs and credit profile. This allows borrowers to benefit from RefiJet’s streamlined process without compromising access to attractive rates and terms.
What Services Does RefiJet Offer?
Beyond auto loan refinances, RefiJet also features solutions for motorcycle loan refinances and lease buyouts.
Auto Loan Refinance
You can refinance your auto loan with RefiJet to secure a lower monthly payment, change your loan term or get a lower APR. Either way, you can potentially save on your monthly auto loan payments or reduce your borrowing costs over the life of the loan.
Motorcycle Loan Refinance
RefiJet also features refinance solutions for motorcycles, which isn’t common amongst most traditional banks and credit unions. So, instead of settling for a high APR, you can get a better deal to make your monthly motorcycle loan payments more affordable.
Lease Buyout
If you’re currently leasing a vehicle or motorcycle, you can finance the buyout through RefiJet. That way, you won’t have to worry about coming out of pocket to make a hefty balloon payment that places a dent in your reserves.
Extended Service Contract
Vehicles can be unpredictable, and there are times when there’s no way to know trouble is brewing under the hood. That’s where extended service contracts come in. Instead of tanking your budget with a costly, unexpected car repair, you can add an extended service contract to your auto loan and have peace of mind when life happens. These contracts also include coverage for towing, lodging and electronics to help ensure you keep even more of your hard-earned money in your pocket when your vehicle’s health takes a turn for the worse.
Guaranteed Asset Protection
Also known as GAP insurance, it covers the difference between your vehicle’s value and what you owe if you’re involved in an auto accident that totals your vehicle. It also provides an added layer of protection if your vehicle is stolen. You can add GAP coverage onto your refinance loan to save you a bundle in the unfortunate event that life happens.
Car Equity Cash Back
As you pay down your auto loan, you gain equity in your vehicle. This amount is the difference between what your vehicle is worth and what you currently owe. You can refinance your ride with RefiJet to pull these funds from your vehicle and use them however you see fit. The process involves swapping out your current loan for a new one with a higher amount and receiving the difference in cash.
Customer Rating and Support
RefiJet is accredited by the Better Business Bureau (BBB) with an A+ rating. It also boasts an excellent rating on Trustpilot from past and current customers. Regarding customer support, RefiJet makes it easy to get the assistance you need by phone or email.
User Experience
RefiJet leverages auto refinance technology to provide a seamless user experience. You won’t have to complete lengthy applications with multiple lenders to find the most attractive refinancing deals available to you based on your financial profile.
Speed and Efficiency of Service
The online lending platform also takes pride in providing speedy, personalized service to its users. You will communicate directly with a Financial Services Representative to navigate the lending process with ease from start to finish.
What Do You Need to Qualify with RefiJet?
Partner lenders in the RefiJet network offer refinancing solutions for borrowers with varying credit backgrounds. Eligibility guidelines vary, but here are some general requirements you must need to get pre-qualified:
- Be employed or earn a verifiable income
- Hold the registration to your vehicle and a valid driver’s license
- Have a recent history of timely auto loan payments
- On a vehicle that’s no more than 10 years old
- Have an active auto insurance policy providing full coverage
You’ll also need to provide these documents to be considered for refinancing:
- A copy of your driver’s license, registration and proof of insurance
- A picture of your odometer clearly displaying the mileage on your vehicle
- A copy of the vehicle title (depending on your state of residence)
- Proof of income (i.e., most recent pay stub, tax return, W-2 statement or other income verification letter)
- Proof of residence (i.e., mortgage statement, lease agreement, utility bill, auto insurance statement or similar documentation displaying your current address)
How Much Does RefiJet Charge?
RefiJet assesses a one-time administrative fee of $495 to refinance your vehicle. The rate you receive when refinancing depends on the lender, along with other costs associated with the transaction.
How to Get Started with RefiJet
It’s easy to refinance your current auto loan with RefiJet. Here’s what to expect when moving forward.
1. Talk to an Auto Refinancing Expert
The first step is to answer a few simple questions to connect with an auto refinancing expert to discuss your needs. They will recommend the most suitable refinance option based on your unique financial situation with no obligation or impact on your credit score.
2. Get Pre-qualified
RefiJet offers online pre-qualification that doesn’t require a hard credit check. So you can explore loan options without damaging your credit score. Even better, RefiJet handles the preliminary paperwork, so you don’t have to.
3. Choose an Option That Works Best for You
If you’re a good fit for a loan from a lender in the RefiJet network, you’ll be presented with options that could work for you. Should you decide to move forward, a refinance expert will prepare any other documentation needed for the lender to finalize the loan.
