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MotoRefi Auto Refinance

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MotoRefi Auto Refinance

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Highlights
Credit Score Range 600 - 850
Loan Amount Up to $100,000
APR  (Fixed APR) Starting at 1.49%
Loan Term (Months) Up to 72 months

MotoRefi Auto Refinance Review

MotoRefi is an auto loan refinance offering by MotoRefi, based in Denver, CO. Founded in 2016, MotoRefi offers auto refinance loans in 50 states (and Washington, DC).

What are the auto loan refinancing rates offered through MotoRefi?

MotoRefi offers a fixed APR car loan refinancing product that ranges from 1.49% APR.

What is the maximum loan term you can get with MotoRefi?

MotoRefi offers auto refinancing with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

Does MotoRefi charge an origination fee on auto refinance loans?

Yes, MotoRefi charges a loan origination fee of $399.

Does MotoRefi charge a late fee?

Yes, auto refinance loans via MotoRefi are subject to late payment penalty fees.

Does MotoRefi charge prepayment fees?

Yes, MotoRefi does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment feees can reduce or even cancel the interest savings of repaying a loan early.

What do you need to qualify for MotoRefi Auto Refinance?

Applicants with a credit score of at least 600 and up to 850 may be eligible for MotoRefi Auto Refinance. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

MotoRefi Auto Refinance does not have or does not disclose a minimum annual income eligibility requirement. MotoRefi Auto Refinance only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via MotoRefi Auto Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by MotoRefi Auto Refinance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Driver's license
  • Government issued photo ID
  • Proof of identity
  • Proof of citizenship or residence permit

What is the maximum car age to refinance with MotoRefi?

Only vehicles that are 20 years old or less can qualify for an auto refinance.

Does MotoRefi Auto Refinance report your account activity to credit bureaus?

Yes, MotoRefi Auto Refinance reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

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Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 9:00pm
  • Tuesday 9:00am - 9:00pm
  • Wednesday 9:00am - 9:00pm
  • Thursday 9:00am - 9:00pm
  • Friday 9:00am - 7:00pm
  • Saturday Closed

About MotoRefi Auto Refinance

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Origination Fee ($) $399
Credit Score Range 600 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Maximum Vehicle Age 20
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Vehicle Type Auto
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options Automatic Payments
Pre-Approved Soft Credit Inquiry
APR (Fixed APR) Starting at 1.49%
Loan Term Up to 72 months
Loan Amount Up to $100,000

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