Refinancing Your Car with Caribou? See the Advantages of Caribou Financial

Using the Caribou auto refinance marketplace can help you find the loan offers you need.

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About Caribou

Caribou is one of the best auto loan refinancing marketplaces you will find online. They are formerly known as MotoRefi. Their legal company name is Caribou Financial, Inc. d/b/a Caribou. Caribou specializes in auto loan refinancing and helping people save money on monthly car payments.

Caribou Auto Refinance Multi Color Logo
Advertiser Disclosure

Lender Type


$100+ Avg Savings Per Month*

A+ BBB Rating

4.0 Google Rating

Online Marketplace

Large Lender Network

$399 Processing Fee

APR Rate


Caribou's featured rates are as low as 2.32%*** APR. Your actual presented offers may vary based on things like your vehicle, location, and credit score.

Credit Score


Caribou works with people interested in refinancing who have various credit ratings including good ranges of 650+ and higher.

When Applying

Pre-qualification available with no SSN++ required to see offers from multiple lenders.

Qualifying with Caribou

Auto Refinancing Success

Here are a few things you can do when it comes to refinancing your car and qualifying with Caribou.

  • Credit Qualification

    Make sure your credit score qualifies for refinancing with Caribou. You must meet the minimum score to refinance your car through the platform.

  • Collect Documents

    Get your documents in order so you have everything ready to go when refinancing. This includes your ID, pay stubs, vehicle docs, and loan info.

  • Calculate Your Savings

    Know how much refinancing your car will save you. Compare new offer savings to your current rates with the auto refinance calculator.

TrustPilot Reviews

See what real customers have to say about Caribou on Trustpilot.

Caribou's Rating
369 Trustpilot Reviews
Bruce AsBerry
Bruce AsBerry
March 16, 2022

Excellent process. I am extremely pleased with the APR savings; and My Loan Processer.

Steve Ormsby
Steve Ormsby
March 16, 2022

It was fast and easy to get the refinance done at a good rate thank you

Kelton Graham
Kelton Graham
March 16, 2022

Fast and easy process.

Tyler jordan
Tyler jordan
March 16, 2022

Take your business elsewhere! I wish I could give a better review but I can’t. The process of refinancing was extremely more difficult than it had to be. They gave me a great rate but they push all the extra crap. (Car warranty etc) They won’t take no for an answer. Now here is the problem I really have I have questions I need answered and once they got my business they washed their hands of me. I’ve left two voicemails and four texts to my agents phone. He refuses to get back to me. I tried calling customer service and they wouldn’t help me. So once they get your business you’re dead to them. Take my advice go somewhere else.

March 16, 2022

This was such an easy process for me, it was almost automatic. From Sara (loan officer) to the other professionals who followed up, my only regret is that I hadn't done this months sooner! Caribou did an exceptional job and, although I had never heard of them prior, I will definitely consider them for my future financial needs! Keep up the great work!

Jeri Ashworth
Jeri Ashworth
March 15, 2022

Super fast and easy process and I am saving money with my refi. Strongly recommended.

Lynette Lines
Lynette Lines
March 15, 2022

If I could give zero stars I would. The harassment via text and nonstop phone calls was unending even after I asked multiple people to remove me from the calling list.

Arturo Rojas Diaz
Arturo Rojas Diaz
March 15, 2022

Had a call with loan officer Mike Ruiz and I love the professionalism and honesty that he portrayed during our conversation. Unfortunately for him I had a rate that they couldn’t really beat but instead of trying to undersell me into one of their loans he let me know in the nicest way possible that there was nothing that they could do at this time. Great costumer service!

Gary Bennett
Gary Bennett
March 15, 2022

Good experience

Caribou's History

The company was founded in 2016, and their headquarters is based near Washington D.C. and Arlington, VA. They have various offices throughout the United States in Austin, TX, and Denver, CO and serve all of the 50 states except Massachusetts, Mississippi, Maryland, Nebraska, Nevada, Wisconsin, and West Virginia (44 at the time of writing). They also offer auto insurance bundling, key replacement, cosmetic care, and extended vehicle protection plans.

Caribou is making waves as a new auto fintech platform. In March of 2021, Goldman Sachs led a $45M investment round making it one of the hottest fintech companies of the year. They gained an additional $5M in August of 2021 from Curql Fund which further opened up access to credit unions. This further backs our choice of Caribou as the best auto refinance lender.

Their goal is to offer customers great refi rates and lower monthly payments. According to their website, they save their customers on average $100 per month* on car payments. Their fast, easy auto refinance system helps customers take control of their car payments. Your social security number (SSN) is not required to see initial refinance rates but is required for finalizing your new loan++.

Caribou is a marketplace because they partner with local lenders like banks and credit unions to best serve customers wherever they live. Using their platform, you can complete one refinance application and see multiple lender offers. The marketplace ranks loan offers with interest rate, term, and other details to help you make a good decision.

Refinance Rates

Featured auto refinance rates are as low as 2.32%*** APR with newer vehicles and prime credit scores or higher.

No SSN++

See savings without giving out your social security number++. SSN is only needed for the loan finalization steps.

Financial Goals

Keep your financial objective in mind to make sure you are on the right track. Shift your goals over time for the best results.

Applying for Car Refinancing with Caribou

The Caribou application portal is easy to use. The steps are entering your personal and vehicle information, checking your rate, selecting your offer, and finalizing your refinance. The application process can help you pull in your vehicle information by license plate or by entering your make and model with other vehicle options. Your application is assigned to a loan officer who will talk you through your submission details.

They also security connect to credit bureaus using your personal information to help you find your current car loan information. You can then import your loan information into the platform. These tools make it easy to apply for refinancing in an easy-to-understand format. The Caribou platform is one of the most innovative we’ve seen so far out of comparable auto refinance companies.

You can see the available car loan refinance options after a few steps into the process. Caribou states there is no impact on your credit score to see these initial rates+. The loan offerings are listed together so you can view and choose the best refinance option for you. Their loan officers are also very knowledgeable and helpful in answering lending questions along the way.

Caribou usually handles the entire refinancing process from submission to finalization with the lender. Their process is noted as “convenient, transparent refinancing that could put money back in your wallet, with offers from our network of trusted lenders.” They also help you figure out retitling your vehicle under your lender. This process can be tricky and take time, so check with the Caribou title team experts and titling specialists.

Caribou BBB Reviews

Trusted by Hundreds of People for Car Refinancing



Over 859 Reviews
Better Business Bureau
See Company Profile

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"Everything went smoothly. The rate I was initially quoted is the rate I was approved for and received. I had ain't issues with my car title and registration and they waited while I sorted that out. Process was incredibly quick and efficient."

Dayna N
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"I was so glad to run into this company and Jon M he was so helpful with the whole process made it quick and easy easy to understand I think they're a fantastic company and I will be telling my friends about them and family"

Theresa Y
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"The entire process from start to finish was amazing. Arthur S**** Jr, went above and beyond in helping me. I was referred to Pen Fed and my payments are now $60.00 less and my interest went from 12.5% to 7%. Thanks again!!!"

Benny M
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"I have a commercial vehicle insured and used for personal use. I was having a hard time finding a bank that would refinance. Logan made no promises but assured me that he would look into finding a lender. He found PenFed and everything was complete in a few days. I’m saving $100 per month which is what I needed."

Julia L

Car Loan Interest Rates with Caribou

Caribou can get you a car loan interest rate as low as 2.32%*** APR. This annual percentage rate is based on their qualified example of refinancing a 2020 or newer vehicle with less than 85,000 miles on the odometer and a credit score higher than 740 (prime and super prime credit score categories). Your offers and approval of those offers depend on factors including your personal information, credit score, and vehicle. Caribou works with their “trusted local and community lenders” to find you the competitive lending deals.

Find a Good Refi Deal

Why Choose Caribou?

Caribou can be just the place you are looking for when it comes to choosing the best auto refinancing company. They deliver results and "help put money back in your pocket" and save by matching customers like you with top lenders around the country.

Large Lender Network

Caribou's large lender network increases your ability to compare and choose the best refinancing offers and rates.

Pre-Approval & Pre-Qualification

Caribou's easy pre-approval process allows you to pre-qualify in minutes and immediately see offers from real lenders.

Real People - Real Results

Caribou is making waves in the finance world by providing excellent products handled by real industry experts.

Caribou Fees and Things to Know

Caribou does have a one-time loan processing fee of $399 which is factored into your total refinance cost. This fee is paid when you complete the refinance process, and there is no additional cost to you. It is similar to an origination fee and covers document processing and vehicle retitling which helps you avoid a trip to the DMV. The total cost (including the fee) to refinance is often cheaper than other options.

Additional product inclusions like GAP, motor vehicle service plans, and their key replacement programs can also help you and add benefit to your refinanced car loan. GAP is similar to a GAP waiver, GAP coverage, or GAP insurance and can help with total losses. Vehicle service plans can help you maintain or repair your vehicle. Key placement options can come in handy if you misplace your key fob or transponder.


Featured rates are as low as 2.32%*** APR**

Average customer savings are over $100 a month*

The lending marketplace helps you find the best refinance deal

You can see available loan offerings from multiple verified lenders

Pre-qualification can take minutes on their secure platform

No social security number (SSN) required to see loan offers+

A+ BBB rating & accreditation

Caribou has a 4.0 star rating Google Review

Caribou Refinance FAQs

Have questions about refinancing with Caribou? Find answers to commonly asked questions!

Is Caribou car refinance legit?

Yes, Caribou Financial is a real company and can help you refinance your car. They provide a lending marketplace with access to different lenders around the United States.

Is Caribou a good finance company?

Caribou puts the customer first and provides competitive auto refinance offerings. They are very quick to update their interest rates and APRs so you know what you are getting as a customer. Their excellent TrustPilot and Better Business Bureau ratings show that.

What is Caribou's minimum credit score?

At the time of this writing, you need at least a 650 credit score or higher to refinance your auto loan with Caribou.

What is Caribou's APR?

At the time of this writing, Caribou's lowest APR is 2.32%**. The APR is the total cost to refinance and includes interest, fees, and other origination costs.

Does Caribou refinance older cars?

Caribou can refinance older cars up to around 10 years old. Older vehicles may not be accepted. This is because of lender requirements and guidelines.

When should I refinance my car through Caribou?

Any time is a good time to refinance. You should take advantage of any savings or dealership finance offerings before switching over your car loan with Caribou. Refinancing can potentially lower your interest rate and save you money in the process.

Does refinancing mess up your credit?

Refinancing a vehicle can lower your credit score by a few points. This is because it takes a new line of credit out and the hard pull during the loan finalization process.

What credit bureau does Caribou use?

Caribou primarily uses the Experian credit bureau for credit reporting and credit history checks.

How do I qualify for a Caribou loan?

To qualify for a Caribou loan, simply enter your vehicle and personal information on the Caribou application portal. Your SSN is not needed to see refinancing offers.

Can I pick my Caribou loan term?

Yes, once you pre-qualify or qualify with Caribou, you can see and compare different loan terms from marketplace lenders. Pick the term and rate which is best for you!

Can I pick my Caribou loan interest rate?

Yes, you can see available Caribou loan interest rates after you pre-qualify or qualify on the Caribou marketplace. Lower terms often have lower interest rates!

Is MotoRefi legit?

Yes, MotoRefi was a legit company and is now known as Caribou. They rebranded in 2021.

***2.32% APR is based on Caribou's qualified example of a customer with a credit score higher than 740 refinancing a 2020 or newer vehicle which has fewer than 85,000 miles. Actual APRs may vary.

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 of the vehicle. APR ranges from 2.32% to 36.00% and is determined at the time of application. Lowest APR is based on loan amount of $45,000 and is available to borrowers with excellent credit and only in certain states. Advertised rates and fees are valid as of 8/5/2022 and are subject to change without notice. Lowest rate of 2.32% APR only available with a 36-month repayment term. Insurance savings will not result from lower APR.

+ To check the refinance rates and terms you qualify for, we conduct a soft credit pull that will not affect your credit score. However, if you choose a loan product and continue your application, we or one of our lending partners will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

++ Social security number is required should you choose to move forward in the loan application process.

** 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 of the vehicle. APR ranges from 2.32% to 36.00% and is determined at the time of application. Lowest APR is based on loan amount of $45,000 and is available to borrowers with excellent credit and only in certain states. Advertised rates and fees are valid as of 8/5/2022 and are subject to change without notice. Lowest rate of 2.32% APR only available with a 36-month repayment term. Insurance savings will not result from lower APR.

Terms and Conditions apply. Caribou reserves the right to modify or discontinue products and benefits at any time without notice. Participating lenders, rates and terms are also subject to change at any time without notice. The information you provide to us is an inquiry to determine whether our lenders can make you a loan offer. If any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. We do not guarantee that you will receive any loan offers or that your loan application will be approved. If approved, your actual rate will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Offers not available in MA, MD, MS, NE, NV, WI, WV.