Adheres to 
Reviewed by Ricardo LaizoCaribou is an auto refinance marketplace connecting borrowers with 40+ lending partners, mostly credit unions and community banks. APRs range from 4.64% to 28.55%.
The soft credit pull for prequalification and fully online process make it easy to compare offers. Average savings are reported at $100+ per month, and the A+ BBB rating adds credibility.
The $499 processing fee can eat into savings on smaller loans, and Caribou is unavailable in four states. Best for borrowers with 640+ credit scores looking to lower their current auto loan rate.
Soft credit pull for prequalification, no SSN required upfront
Access to 40+ lending partners including credit unions and community banks
Average savings of $100+ per month on auto loan payments
Terrible service. Total waste of your time. They can't communicate properly and never call back like they promise. The person helping me clearly didn't care at all about the problems I had completing my transaction.
Excellent experience
Based on pricing, support, terms, popularity, and customer reviews.
APRs range from 4.64% to 28.55%. Competitive for borrowers with good credit. The $499 processing fee may be included in the loan amount by the lender, reducing net savings on smaller refinances.
Dedicated loan officers assist throughout the refinance process. Phone support at 1-877-445-0070. Some customers report occasional communication delays or document requirement issues.
Loan terms of 36, 48, 60, and 72 months with amounts from $7,500 to $85,000. No early payoff penalty. Prequalification uses a soft credit pull with no SSN required. A+ BBB rating since 2018.
The popularity score indicates the percentage of customers choosing this company the last 90 days.
4.5/5 on Trustpilot from 1,500+ reviews and 4.84/5 on BBB. Users praise the streamlined process and rate savings. Some complaints about follow-up calls and paperwork delays.
The Financer Score is calculated from our editorial ratings across pricing, customer support, terms & flexibility, popularity, and verified customer reviews. Each factor is weighted equally to provide a balanced, unbiased overview.
| month | Score | Change | Trend |
|---|---|---|---|
| Apr 2026 | 80 | +4 | |
| Mar 2026 | 76 | 0 | |
| Feb 2026 | 76 | — |
This is a simplified example calculation and does not reflect the actual cost. An individual assessment will be performed by the company.
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.
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 | ⭐⭐⭐⭐ |
Want to skip the details? Jump to our final verdict here.
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 loan refinancing |
| Loan amount: | $7,500 - $85,000 |
| Loan term: | 36, 48, 60, or 72 months |
| APR: | From 4.64% to 28.55% |
| Min. credit score: | 580+ (640+ recommended) |
| Monthly fees: | None |
| Other fees: | $499 processing fee (charged to lender) |
| Requirements: | At least 18 years old, U.S. citizen or permanent resident, have 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't 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.
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 loan 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.
Applying for pre-qualification through Caribou auto refinance won't hurt your credit score because it only triggers a soft credit inquiry.
Caribou's lending partners offer APRs from 4.64% to 28.55%, with the lowest rates available on 36-month terms for borrowers with excellent credit. The actual rate you receive depends on your credit profile, loan-to-value ratio, and the specific lender matched to your application.
There is a $499 processing fee that covers document processing and vehicle retitling. This fee is charged to the lender, but the lender may include it in your refinanced loan amount.
Loan terms are available at 36, 48, 60, and 72 months. Loan amounts range from $7,500 to $85,000, and you'll typically get a decision within minutes of completing your application.
More than half of Caribou's lending partners offer a 0.25% APR discount for setting up automatic payments.
Other benefits include a $0 fee for early payoff. Late fees are lender-dependent.
You typically need a minimum credit score of 580+ (640+ recommended for best rates) and an income of $2,000 per month ($24,000 per year).
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 credit 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.
Processing fee: A $499 processing fee is charged to the lender, who may include it in your refinanced loan amount.
Personal information: You may need to provide your address, citizenship status, phone number, email, employment status, homeowner status, vehicle license plate, and VIN number. Your Social Security number is not required until you proceed with a loan.
Pre-qualification: Available with estimated rates that are good for 45 days. Multiple offers shown from different lenders.
Online, in-person or both: Process is 100% online, including document upload and e-signing.
Approval speed: Typically less than an hour, 24 hours maximum.
There are some additional loan restrictions: the vehicle must be under 12 years old with fewer than 150,000 miles. No commercial vehicles or motorcycles are covered. Loan amounts range from $7,500 to $85,000, and borrowers need at least $7,500 remaining on their current loan. The loan must be at least 3 to 6 months old with consistent on-time payments.
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.
Yes, Caribou is a great option for auto refinance loans. 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 competitive rates compared to traditional lenders. They've been operating since 2016 (originally as MotoRefi) and have an A+ rating with the BBB.
You can read more Caribou reviews below.
Caribou has built a strong reputation over nearly a decade in business. They hold an A+ rating from the Better Business Bureau (accredited since 2018) and a 4.84 out of 5 star rating on BBB from verified customers.
Caribou is fairly open about the terms of its auto refinance loans. APRs range from 4.64% to 28.55%, determined at the time of application based on your credit profile and loan-to-value ratio. They allow you to prequalify and see your actual rate with no impact on your credit score.
The $499 processing fee is clearly disclosed, though minimum credit and income requirements are not prominently displayed on the website.
*Disclaimer: APR is the Annual Percentage Rate. Your actual APR may be different. Your APR is based on multiple factors including your credit profile and the loan-to-value ratio of the vehicle. APR ranges from 4.64% to 28.55% and is determined at the time of application.
Here's a list of alternatives to Caribou and how they compare:
| Lender | Loan Amount | APR | Min. Credit Score |
|---|---|---|---|
| Caribou | $7,500 - $85,000 | 4.64% - 28.55% | 580+ |
| RateGenius | $5,000 - $100,000 | Varies by lender | 550+ |
| RefiJet | $5,000 - $100,000 | Varies by lender | 550+ |
| myAutoloan | $5,000 - $150,000 | Varies by lender | 575+ |
Caribou has a 4.5 out of 5 star rating on Trustpilot from over 1,500 verified reviews. The company also holds a 4.84 out of 5 stars on the Better Business Bureau.
Most Caribou refinance reviews highlight positive experiences with rate savings and fast processing. Among Caribou refinance reviews, complaints are relatively uncommon and typically relate to documentation requirements or follow-up communication delays rather than the core refinancing service:
Is Caribou auto refinance legit?
Yes, Caribou is a legitimate auto refinance company. They hold an A+ rating from the Better Business Bureau (accredited since 2018) and have a 4.5/5 rating on Trustpilot from over 1,500 verified reviews. Founded in 2016 as MotoRefi, Caribou is backed by venture capital firms including QED Investors, Motley Fool Ventures, and Accomplice.
Does Caribou charge a fee?Caribou charges a $499 processing fee to the lending partner, not directly to the borrower. However, the lender may include this fee in your refinanced loan amount. This fee covers document processing, loan closing, and vehicle retitling services.
Does Caribou affect your credit score?No, checking your rate through Caribou does not affect your credit score. The initial prequalification uses a soft credit pull. A hard credit inquiry only occurs after you choose a specific offer and decide to move forward with a lender.
Is Caribou an actual lender?No, Caribou is not a direct lender. It operates as an auto refinance marketplace that partners with more than 40 lending institutions, primarily credit unions and community banks. Caribou matches you with lenders based on your profile and presents multiple offers so you can choose the best rate.
Who is the best company to refinance a car through?Caribou is one of the top auto refinance marketplaces, especially for borrowers who want to compare multiple offers from credit unions and community banks. Other popular options include RateGenius, RefiJet, and myAutoloan. The best choice depends on your credit score, loan balance, and the rates available in your state.
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