MotoRefi review StaffOct.18, 2018

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In a Nutshell

MotoRefi offers pre-qualification for car loan refis in seconds through its digital auto loans marketplace. It has stripped the process of applying for an auto loan down to the bare necessities for maximum convenience. After filling out a short online form, you can select from a range of loan options from several different lenders and can track your application status every step of the way.


  • Fully digital online platform
  • Pre-qualify in seconds


  • No original loans, only refis
  • Customers must enter contact details to see rates

Best for?

This service caters to anyone with an existing car loan who wants to lower their interest rate or monthly payments without spending too much time or energy visiting multiple lenders. Many new-car buyers tend to take the loan offered to them by their dealership—only to discover later on that their rates are much higher than they need to be. If you’re a car owner, MotoRefi allows you to refinance your loan at a superior rate by showing you multiple offers from a number of competing lenders. Anyone with an auto loan, a few minutes’ spare time, and an internet connection or smart phone can qualify.


MotoRefi’s free digital platform gives you the luxury of being able to apply for a refi without leaving your home. It also offers a mobile-friendly site that works well on both iOS and Android devices. You can log into the platform from your desktop, tablet, or smartphone to compare between deals for auto loan refinancing, vehicle service contracts, and GAP coverage.

MotoRefi highlights include:

  • Completely digital platform
  • Website optimized for iOS and Android
  • Quick and hassle-free application process
  • Range of loan repayment terms and rates
  • Free calculator to estimate monthly payment
  • Customer service by phone, email, and live chat

Application Process

The entire application process takes place on the MotoRefi website, saving you the hassle of having to deal with individual lenders. It can be completed in as little as 15 minutes, and includes the following steps:

  • Enter zip code
  • Enter personal information, including: first name; last name; annual income, birthdate, email address, phone number, phone type, address, state, whether you rent or own, monthly rent/mortgage payments, and how long you’ve lived at your address
  • Enter vehicle info, with a choice of searching for the right model by license plate, vehicle identification number (VIN), or make and model. You’ll also need to enter current mileage, and the payoff amount and monthly payment amount of your existing loan
  • On the next screen, you’ll be presented with a list of loan options for which you’ve been prequalified. To continue, press the “Select Option” button next to your preferred loan 
  • Before completing your application, select whether you’d like to add a vehicle service contract or GAP coverage
  • Finally, you’ll be asked to review and e-sign some documents in order to authorize MotoRefi to finalize your refinancing and have them replace your original auto loan with your new one

Minimum qualifications are:

  • Borrower must be aged 18 years or more
  • Must be a U.S. citizen or permanent resident
  • Monthly income of at least $2,000 per month
  • Credit score of at least 550
  • Mileage of up to 150,000 on the vehicle being refinanced
  • Car must not be older than 10 years

Loan Types and Terms

MotoRefi offers various types of auto loan refinancing and gives customers the option of adding a vehicle service contract and/or GAP coverage before completing their application.

  • Rates and terms vary, but generally MotoRefi offers customers a lower rate and monthly payment than their original loan.
  • Vehicle service contracts offer added protection by covering auto repairs and mitigating the impact of unexpected expenses.
  • GAP Coverage provides protection in the event of a total loss

Repayment Options

Loan terms are for 24, 36, 48, 60, or 72 months. Monthly payments vary according to credit score, term duration, and the ratio between loan payoff amount and car value. MotoRefi’s free calculator gives the following APRs based on different terms, loan amounts, and credit profiles. For a $20,000 loan, it assumes a 2013 model.

How Safe Is It? 

MotoRefi is accredited with the Better Business Bureau, which gives it an A rating for its level of customer service and satisfaction. In order to provide refinancing options, MotoRefi asks for customers’ personal information and may also ask for an identifying document such as driver’s license. It states in its privacy policy that it will ask for customer consent or provide an opportunity to opt out before contacting the customer for marketing purposes.

Help & Support

Customer support agents are available during regular business hours. They can be contacted by live chat, email, or a toll-free number.


MotoRefi offers customers the chance to compare attractive auto loan refi options from multiple lenders. The service is completely free to use and its major benefit is its simplicity. It only takes a couple of minutes to fill out the online form and see pre-qualified rates. If you see something you like, it only takes a few more minutes to read over and e-sign your documents to save on monthly payments.

Physical Address


405 Cameron Street

Alexandria, VA 22314