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Published: Oct 03, 2023 10 min read

An auto refinance loan may save you money by lowering your interest rate. Aside from that, some borrowers use refinancing to modify their auto loan terms or buy out a lease.

You can get an auto refinance loan directly from one of the best auto refinance companies, or you can use a marketplace like RefiJet, which works with a network of lenders to match you with a loan that suits your needs.

In the review below, we cover RefiJet’s pros and cons, refinance offerings, accessibility, customer satisfaction and more.

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RefiJet auto refinance pros and cons

  • Offers extended service contracts and GAP coverage
  • Provides personalized assistance throughout the process
  • Available in all 50 states
  • Pre-qualification uses a soft credit check
  • No online application
  • Not a direct lender

Pros explained

Offers extended service contracts and GAP coverage

In addition to auto refinance options, RefiJet offers extended service contracts and GAP coverage you can add to your loan. Extended service contracts help cover the costs of repairs, and GAP coverage ensures you aren't stuck with a loan balance if your vehicle is totaled.

Provides personalized assistance throughout the process

RefiJet doesn't rely on online applications to facilitate auto refinancing — instead, every customer partners with a "loan concierge" who assists them through the refinancing process.

Available nationwide

RefiJet is available to residents of all 50 states and Washington, D.C. You can start your auto refinance application as long as you live in the U.S. and meet its eligibility requirements. You'll need to show proof of income, a valid vehicle registration and other documents.

Pre-qualification uses a soft credit check

When you explore your auto refinancing opportunities through RefiJet, you won't need to worry about a hard credit pull. RefiJet uses a soft credit check to pre-qualify you for loans, which does not impact your credit score. If you decide to proceed with the loan, your lender will do a hard credit inquiry to complete the process.

Cons explained

No online application

The biggest drawback to RefiJet is that you can’t complete your application online. You can start the process with RefiJet by filling out its online contact form, but you'll need to speak to a representative to complete your application.

Not a direct lender

While it’s helpful that RefiJet works with many lenders to offer customers a variety of options, RefiJet doesn’t fund loans. Your loan experience may vary based on the lender you choose through RefiJet.

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RefiJet auto refinance offerings

The primary reason many people refinance their car loans is to save money. You may be eligible for a better interest rate or want to extend your loan to lower your monthly payment. Refinancing your auto loan with RefiJet may help you with the following changes to your loan:

  • Lower your monthly payment
  • Extend your auto loan repayment term
  • Add or remove a co-borrower
  • Reduce your interest rate

RefiJet advertises that its customers who refinanced for the purpose of saving money have saved an average of $150 per month. You can fill out RefiJet’s pre-qualification form to view your refinancing options. Since the company works with a network of financial institutions, you can receive multiple quotes to find the best option for you.

Eligibility requirements for RefiJet’s loans include the following:

  • Must be employed or have verifiable income
  • Must have made your recent car loan payments on time
  • Vehicle must be 10 years old or newer with full coverage car insurance
  • Must have a valid car registration and driver’s license

In addition to traditional auto refinance loans, RefiJet offers other refinancing options and additional benefits you can add to your loan.

Lease buyout

If you’re leasing your car but want to purchase it instead of turning it in for a new lease, RefiJet’s lease buyout may be a good option. Lease contracts usually have a provision that includes a balloon payment, which you must pay to keep the car. With RefiJet, you can arrange a lease buyout loan, which pays off the lease balance and sets you up on a monthly payment schedule, so you don't need to come up with the entire balance at once.

Cash-out auto refinance

You may have equity in your car if its value is higher than the amount you owe. RefiJet offers cash-out refinancing so you can access the equity if you need the funds. You will get a new loan through RefiJet that replaces your current one and a check for the money you are borrowing from your equity. The new loan amount will equal the total amount you owe on your original loan plus the funds you receive.

Extended service contracts (ESC)

RefiJet offers extended service contracts ESC that customers can bundle into their refinanced auto loans. Your extended service contract will help cover certain repairs, such as engine problems and electronics issues. It can also cover lodging and towing expenses if your car problems develop when you're away from home. The contracts are similar to your car’s manufacturer’s warranty but may replace it once it expires.

Guaranteed asset protection (GAP)

If your car is totaled while you still owe money on your loan, you may still be responsible for the remaining balance your insurance company doesn't pay off. This can happen if you own a newer car and its value at the time of the accident is less than what you owe. RefiJet offers GAP coverage to add to your refinance loan. It helps cover the difference between your loan balance and the amount covered by insurance.

RefiJet auto refinance pricing

If you decide to refinance your vehicle through RefiJet, keep in mind that the company charges a processing fee for its services.

Other fees vary depending on the lender and your new loan amount. Typical refinance fees include early loan termination, prepayment penalties, transaction costs, late payment, registration and title transfer expenses.

RefiJet auto refinance financial stability

RefiJet launched in October 2016 and works with various lenders and credit unions. RefiJet doesn't underwrite loans. It acts as a middleman, using its technology to connect financial institutions with customers who need auto refinance products.

RefiJet earned a spot on the Inc. 5000 ranking list in 2021 and 2022 as one of the nation's fastest-growing companies based on revenue growth over three years.

RefiJet auto refinance accessibility


RefiJet products are available across the entire United States. The lenders available to you may vary based on where you live.

Contact information

RefiJet customer service is available by phone and email. You can reach the appropriate department depending on your inquiry at the following numbers and email addresses:

  • New and existing loan applications: 800-260-5355 or contact@refijet.com
  • Loan documents questions: 888-954-6460 or loancoordinators@refijet.com
  • GAP and ESC questions: 888-613-9161 or qc@refijet.com
  • Title questions: 888-952-9506 or titling@refijet.com

User experience

RefiJet offers an extensive website with helpful information about the refinancing process. However, you can’t get a loan online — you'll need to speak to a representative on the phone. You can request a consultation by submitting your personal information, and a customer representative will reach out to you, or you can call customer service directly.

Spanish-speaking consumers can also access a Spanish version of the company's website.

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RefiJet auto refinance customer satisfaction

RefiJet is accredited by the Better Business Bureau (BBB) with an A+ rating. Clients generally note positive experiences with RefiJet across customer review sites, many saying they could save money by lowering their interest rates on their existing loans. Many negative reviews touch on communication issues and being persuaded to purchase the add-on options, like the extended service contract and GAP coverage.

RefiJet auto refinance FAQs

Is RefiJet legit?

RefiJet is a legitimate company with an A+ accreditation and rating through the BBB. The company connects consumers with banks and credit unions who can refinance their loans under more favorable terms than their current loans, potentially resulting in monthly payment reductions.

Is RefiJet a good company?

RefiJet may be a good option to consider if you want to refinance your auto loan with a lower interest rate or extended repayment terms. The company offers additional benefits for an added cost, such as GAP coverage and extended service contracts. You can pre-qualify for a loan without affecting your credit score to see if RefiJet fits your needs.

What happens when you refinance an auto loan?

When you refinance your auto loan, you get a new loan to replace your original one. Many people refinance their loans to get lower interest rates, lower their payments or make changes to their loan (such as extending the term or removing a co-borrower). Your new lender pays off your original loan, and you make your car payments to the new lender.

Refinancing an auto loan usually starts with your initial pre-qualification application, which asks for your personal details and information about your vehicle. Once qualified, you may be required to submit documents to complete the process, such as your current vehicle registration and proof of insurance. Your lender will inform you of the steps to finalize your refinanced auto loan.

How we evaluated RefiJet auto refinance

To evaluate RefiJet auto refinance, we considered the following elements:

  • Service offerings: We assessed the variety of service options available from RefiJet.
  • Customer service availability: We determined how easy it is to contact RefiJet customer service representatives.
  • Ease of completing the refinance application: We looked into RefiJet’s auto refinance application process, including what documents and information are needed to complete it.
  • Customer reviews: We analyzed reviews provided by RefiJet customers across various third-party websites.

Summary of Money's RefiJet auto refinance review

RefiJet offers a variety of auto refinancing options by connecting customers with lenders that may offer you a more favorable auto loan. The company also provides services you can add to your loan for an extra cost, including GAP coverage and extended service contracts.

RefiJet's services are available nationwide. Unfortunately, you can't complete the application process entirely online. You must speak to a representative who can help answer questions and talk you through the tasks you must complete to secure your new financing.

You can pre-qualify for a loan to see what options are available to you. Since RefiJet uses a soft credit check, you don't need to worry about any impact on your credit score if you decide not to move forward.