Credit Karma presents me with offers from time to time. I noticed one offer said that I could save thousands on my auto loan by going with Rate Genuis. I did a quick application and within a week, I received an offer for rate almost half my current rate. Although the savings will only be about $1,400, it was worth it because I got gap coverage and reduced my monthly payments by nearly 10%--while still saving over the long term. And I can still pay my loan off at any time without penalty.
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I was approved to refinance my car loan and after working with the agent for a few weeks, today, I had to give my final information such as insurance deductibles, license #, etc. only to be told that I owe too much on my current loan and would need to bring it down by a $1,000! The reason I applied to refinance was to save $! This caused a hard inquiry on my credit report dropping it by 47 points. The agent from Rate Genius was not willing to negotiate with Apple Finance on my behalf so if I want the loan offered and rate, I now have to wait three months. Very frustrating. They should have never taken me this far and asked for all my personal information, approve me then tell me I have to wait. Very frustrating and not trustworthy at all!