Caribou Auto Refinance Review: Rates from 4.39%, Pros & Cons (YEAR)

- Nov 18, 2025

Adheres to

Caribou offers a solid auto refinancing option with below-average rates and a streamlined online process.

Their transparent terms and flexible repayment options are commendable, though the $499 processing fee and limited state availability are drawbacks.

While customer support is adequate, some users report documentation challenges.

Overall, a reliable choice for most borrowers seeking auto refinancing.

No Impact Rate Check: Caribou allows potential borrowers to check their refinancing rates and eligibility without affecting their credit score through a soft credit pull, making it risk-free to explore potential savings before committing.
Access to Multiple Lenders: As a loan marketplace rather than a direct lender, Caribou partners with numerous financial institutions, credit unions, and banks, increasing the chances of finding competitive rates and terms.
Potentially Significant Savings: According to Caribou's marketing, customers save an average of $100+ per month through their refinancing services, which can add up to substantial savings over the life of a loan.

This company is not recommended

We would just like to make you aware that Caribou is not verified Financer partner. Consider other top options below.

Compare better options

Top options

Company	User Reviews	Read review
1.	-	View Company
2.		View Company
3.		View Company
4.		View Company
5.	-	View Company

See full comparison

Caribou - Financer Score™

Read reviews (4)

Financer score™ is our own point system which is updated live and based on several criteria that gives you a balanced view of the company quality.

Pricing

Caribou offers competitive refinancing rates starting from 5.69%, which is below market average. While their rates are attractive, the $499 processing fee prevents a perfect score, though this is still lower than some competitors.

Customer Support

While Caribou offers support throughout the refinance process, some customers have reported issues with document requirements. The company has positive TrustPilot ratings (4.5/5), but mixed customer reviews on Financer.com.

Terms and Flexibility

Caribou provides transparent loan terms with flexible repayment options ranging from 12-72 months. Their prequalification process with no SSN required and soft credit check is user-friendly. The A+ BBB rating reinforces their reliability.

Popularity

The popularity score indicates the percentage of customers choosing this company the last 90 days.

Customer Experience

Customers praise the streamlined refinancing process, significant interest rate reductions, and responsive customer service. While some complaints mention occasional communication delays or paperwork issues, most users report a smooth experience.

Review this company

Loans Caribou – Details

Terms & fees

Loan amount$5,000 - $150,000

Term2 years - 7 years

Annual interest rate4.39% - 24.99%

Origination fee$499

Monthly fees$0

Requirements

Minimum age18

Minimum income$2,000

National bank requiredNo

National phone number requiredYes

Citizenship requiredYes

Electronic identificationYes

Features

Cosigner possibleNo

Revocation periodNo

Accept bad credit historyYes

Weekend payoutNo

Loan extensionsNo

Early paybackYes

Payment within 24 hoursNo

Loan brokerYes

Interest free loanNo

Additional fields

Payment hours9am-9pm

High approval rateNo

Credit check companyEquifax, TransUnion

Recommended companyNo

Company information – Details

Company nameCaribou

Websitehttps://caribou.com/

Phonenull

Get started

Caribou, previously MotoRefi, is an online lending platform that offers auto refinancing loans. Their secure digital platform makes it easy for borrowers to see how much they can save by refinancing their auto loans.

Caribou is backed by leaders in the automotive, technology, and finance industries, with venture capital investors like Accomplice, Motley Fool Ventures, QED Investors, and others.

Apply for a Caribou Loan Now

How We Rate Caribou Auto Refinance

At Financer, all lenders go through a thorough research and review process. Here's how we rate Caribou:

Category	Rating
Affordability	⭐⭐⭐⭐
Application process	⭐⭐⭐⭐⭐
Loan terms	⭐⭐⭐⭐
Transparency	⭐⭐⭐⭐
Customer support	⭐⭐⭐
Overall	⭐⭐⭐⭐

Do We Recommend Caribou?

Yes, we recommend Caribou as a reliable lender. Skip to our full review below and see how we rate Caribou.

Here's what we'll cover in this Caribou review:

Want to skip the details? Jump to our final verdict here.

Caribou Overview

Caribou allows borrowers to pre-qualify online in a few easy steps.

Caribou is not a direct lender, which means you can't get a car loan directly from them. They partner with various lenders to provide car refinance loans.

Here's a quick summary of Caribou refinance:

Overview	Features
Loan type:	Auto loans
Loan amount:	Varies
Loan term:	Up to 72 months
APR:	From 5.69%
Min. credit score:	650+
Monthly fees:	None
Other fees:	$399 loan processing fee
Requirements:	At least 18 years oldU.S. citizenHave an SSN

This is the ideal solution if you want to refinance a car loan and complete a loan application completely online. If you apply and get approved, you can create an account and upload all your documents online.

They will then handle the vehicle title change and pay off your old lender.

You can't refinance a commercial vehicle or a motorcycle, and you can get a lease buyout loan from Caribou either.

The company also partners with auto insurance companies to offer extended warranties, gap insurance, and key replacement coverage that can be added to your refinance loan.

Availability

Caribou is available in all U.S. states except MD, MI, NE, NV, WI, and WV

Only car, truck, and SUV loans are offered by Caribou. You can't refinance a motorcycle or a commercial vehicle, and you can't get a lease buyout mortgage either.

Even though it only provides one type of loan, it works with auto insurance companies to provide coverage, gap insurance, and extended warranties that can be added to any refinance loan.

The loan process is very easy and is ideal for people who prefer getting loan offers online without a hard credit pull, and a company that offers great customer service.

Loan Requirements

Applying for pre-qualification through Caribou auto refinance won't hurt your credit score because it only triggers a soft credit inquiry.

Conditions

Caribou's lending partners are better equipped at offering rates as low as 5.69% to those who have a minimum FICO score of 650 and a minimum monthly income of $2,000

Rates & Fees

Caribou fees are lower than many other lenders- often up to two percentage points lower - but there is a $399 processing fee that is added to the loan.

Terms

With Caribou you get APRs as low as 5.48% with loan terms of between 12 and 60 months. Loans are available from $5,000 to $50,000 and you'll get a decision when finishing your application, or within 24 hours.

The funding time depends on the lender and the lender fee is $399 to process your documents and retitle your vehicle.

Other benefits include a $0 fee for early payoff, however, there is a late fee that is lender-dependent.

You typically need a minimum credit score of 650 or more and an income of $2,000 per month ($24,000 per year).

If you have a bad credit history you may want to work on your credit profile to ensure you have an excellent credit score when you go through the refinancing process to get the best rates.

Other requirements include:

Be at least 18 years old
Be a U.S. citizen or permanent resident
Have an SSN

Check Your Rate

Share basic info to find the best pre-qualified loan options in just a few seconds. It won't impact your redit score and no Social Security number is needed.

Select Your Offer

Pick the offer that is best for you and choose between a number of premium products with a support team readily available to assist.

Finalize Your Refinance

Submit additional information and sign the necessary documentation online.

More Information for Applying with Caribou

Origination fee: Lenders can charge processing fees of up to $399. This fee can be added to the loan amount.
**Personal information: **Information you may need to apply include your address, citizenship status, phone number, email address, employment status, home owner status, and more. You may also need to supply the vehicle's license plate and VIN number, along with the make or model. Your Social Security number is not required until applicant proceeds with a loan.
Pre-qualification: Pre-qualification is available and borrowers can receive multiple offers with estimated rates that are good for 45 days.
Online, in-person or both: Process is 100% online, including document upload.
Approval speed: 24 hours maximum but typically less than an hour.

Loan Restrictions

There are some additional loan restrictions: the maximum vehicle mileage is 125,000 miles gas/175,000 miles diesel. No commercial vehicles or motorcycles are covered. Finally, the maximum loan amount is $175,000.

Who is Caribou for?

Caribou is ideal for those who:

Want to compare rates. You can pre-qualify with a soft credit check that won't hurt your credit score.

Want to apply online. Caribou’s application process is completely online, from doing a pre-qualification to signing the papers and transferring the vehicle title.

Want to add car insurance. Caribou added car insurance as a bundled option with auto loan refinancing, so you can apply for refinancing and request a car insurance quote in one application.

Our Caribou Review

Is Caribou a good company?

Yes, Caribou is a great option for an auto refinance loan. With an easy-to-use platform and results within minutes, Caribou is a reputable lender.

They offer customer support throughout the car refinance process and allow for a fast and easy way to apply for an auto refinance online.

The Caribou phone number for customer support is 1-877-445-0070.

Caribou auto refinance offers pre-qualification and lower fees than most other lenders. They have been around since 2017 and have an A+ rating with the BBB.

You can read more Caribou reviews below.

Transparency

Caribou has only existed for a short time, but it has already received a good reputation from the Better Business Bureau and has even achieved a 5-star rating on the BBB website.

Better Business Bureau: Since 2018, Caribou has been accredited by the Better Business Bureau. They've been awarded an A+ rating.

Caribou is fairly open about the terms of its auto refinance loans. They don't disclose an overall maximum APR, but they do allow you to prequalify and see your actual rate.

While certain pieces of information, such as minimum credit, and income requirements are not readily available on the website, they were happy to share them over the phone.

*Disclaimer: APR is the Annual Percentage Rate. Your actual APR may be different. YourAPR is based on multiple factors including your credit profile and the loan to value of the vehicle. APR ranges from 5.69% to 36.00% and is determined at the time of application.

Caribou Alternatives

Here's a list of alternatives to Caribou and how they compare:

Lender	Reviews	Loan Amount	APR	Min. Credit Score
Upstart Auto Loans	View	$9,000 – $60,000	2.25-29.99%	510
Ally	View	$7,500-$99,999	7.54-22.49%	520
RefiJet	N/A	$5,000-$100,000	3.39-22.00%	550

More Caribou Auto Refinance Reviews

What Users On the Web Are Saying

Caribou gets 4.5 out of 5 stars on TrustPilot, with most users happy with the service from Caribou:

More User Reviews - Add Your Rating

Read more reviews on Financer from verified users below.

Have you used Caribou before? Leave your review now.