Caribou (formerly MotoRefi)
reviews and complaints

Please be advised I have not yet received an auto loan refinance with this company. However, my initial experience with them was so encouraging that I had to leave a review for fellow consumers. I spoke with a very kind representative named Rashaka today, and I can't emphasize enough how kind, knowledgeable, and helpful he was. We discussed how I can achieve the best interest rate for my credit, etc. I am a paralegal and contact financial institutions pretty much all day, every day- I cannot express how incompetent and rude most customer service representatives are. I was helped quickly, efficiently, and with compassion by Rashaka. If my experience with this rep is any reflection of this company - I am very confident they will help me reach my goals with regard to an auto loan refinance. What a lovely experience.

I found Caribou through Credit Karma as I was looking for options to refinance my car loan. Tony A was my loan officer and was incredibly friendly, knowledgeable, AND transparent! I was almost moved to tears by our call because rather than trying to convince me to refinance with Caribou, he gave me an honest opinion about what my best options would be and gave me great advice about paying off my loan balances. I didn't end up using Caribou as my car loan service, but I am very appreciative of our 10 minute conversation--which will have a lifetime of impact on my future finances! Thank you Tony for being human and extending some kindness to me in such an already vulnerable process. I called my mom after immediately to glow about the service I received since I've never had an experience quite like it. I'm incredibly grateful for our conversation and would absolutely consider Caribou for my next car!

Change contracts after you make selections, so be careful. I was hit with GAP insurance coverage even though I explicitly declined coverage during the contracting process. You will end up paying interest on something you neither want or need. My insurance agent said the likelihood of a full size truck being a complete loss is very low, so I made the decision that was right for me, and MotoRefi changed it back to what they want - $$$. Interesting, since the money for the GAP coverage goes directly to them along with the very high "admin" fee. They try to upsell you on many things during it all, dent repair, tire coverage, etc.. Very little documentation and expect an uneasy feeling when sending off your valuable documents in the mail. Any notary services will be on your dime. I am personally going to be watching my identity for theft and credit for oddities, because I remain unsettled as to how this entire process was handled.

I am so grateful for this company it has really helped me within one week or less I can say they got me a better rate on my car got my car refinance and help me Mr. M. N It's one of the best people I have ever spoken to over the phone usually you get people who are not empathetic or sympathetic to what you're going through he was all of those things and he understood and he showed compassion and he worked hard and he helped me I cried every day until the day I spoke to him the day after I didn't cry anymore because he had helped me and eased my mind that he was going to help me and he did just that and I'm so grateful that God-sent him to me because it's people like him that are meant for people like me I was on the edge So again I thank this company for having people like him and I really appreciate him and I will recommend this company to everybody they say your life is a testimony this company is a testimony you don't get people like this everyday they help you

I had an amazing, flawless experience with MotoRefi all because I was assigned to a representative by the name of Ben H. From start to finish, Ben provided outstanding customer service by providing personable and friendly interactions, thorough explanations, and speedy follow-up all which made me feel very well taken care of through the tedious process. I am normally very nervous about loan processes especially when they are done primarily with remote interactions but Ben's communication was of the utmost genuine and professional manner and I had no doubts I would end up with a good loan rate and a fairly painless closeout process. I appreciate this company, whom I had never even heard of prior to their recommendation on ***, as they clearly hire and train their staff well and have a sound internal process which conveys to their cutomers they are providing standout service to those who seek out their assistance. I will be back in the future and will recommmend to friends and family!

Talk about white glove treatment. I cannot thank Erika enough for handholding me through my refinance. I was stuck paying a very high interest rate on a new truck after a terrible car accident I was in. This year, I decided to refinance (should've done it sooner like my fiance was yelling at me to). I got in contact with MotoRefi, Erika was assigned, and my approval was done in a matter of a few days. Erika called my warranty company for my truck, ensured everything would transfer over appropriately. She provided step-by-step instructions on how I needed to fill out/send the paperwork and made sure I did everything correct each step of the day. Every time I had a question, she answered within 5-minutes- not joking. I'm saving $159/month on my F150 payment. This is seriously the easiest $159 per month I've ever saved. Erika, thank you for fantastic customer support, great personality, and being passionate about your job. Customers can sense all of those things. I'd hire you in a heartbeat. -Sid M.

The very first thing I did was read all the bad reviews, which sort of psyched me out but if I could pass just one piece of knowledge to anyone reading this, people will always have something bad to say about ANYTHING. I was a little shakey reading those reviews while also not having the best credit score but let me tell you, this company (Caribou) is incredible! I'm not being payed and I'm not a robot, I just honestly got my car payments cut in half, and I'm so happy! It may not be to the dollar exactly as they quote for but it is darn close. Dominique was super professional and very good at his job. The whole process took about a week start to finish, a good few steps yes but certainly NOT a "bait & switch" as the bad reviews say, at the time of writing this they have a 4 star rating but I think they deserve all 5. If I listened to those bad reviews I'd still be paying $500 a month on a car with 27% APR, Caribou certainly saved my bank account! And if this showed up on your Credit Karma account like mine did, this is your sign, it's totally worth it!

Others seem to talk about getting fast and easy service, but for some reason my process was neither. I responded within a few hours to every request for information, but the process has take well over a month so far, and every few days I was being asked to sign more paperwork, when most of it could have been done all together. Two of the items had to be returned by mail, one of which was a voided check they requested! Why on earth is any business requesting those nowadays when the information can easily be entered online? On top of that, I had to pay the postage for the voided check. Luckily, I still have a couple of old fashioned stamps laying around. Every person I dealt with was super nice and responsive, which is the only reason that I gave the 3 stars, but the difficulty and slowness of the whole process; plus the huge fee they charge for the transaction are daunting. If I continue to pay the same amount, I will come out a little bit ahead based on the lower interest rate that they offer. However I would advise people to really take a look at the numbers to see if you will end up actually paying more or less once the fees are added in.

I started the process on Wednesday, May 19. Alek Springer, my loan specialist, is totally awesome. If I could give him and his company a 20 star or more rating, I would. The process went very quickly. Matter of fact, so fast that by the following Monday, May 24, my new lender funded the loan and my rate was dropped by 10%. I was approved within (48) hours. The greatest thing about a refinance like this is only an initial "soft pull" is conducted. Unlike dealerships, (who will promise you the world and send it out to whoever they feel like for an auto loan), MotoRefi knows exactly who will take such a loan for you and you have only one hard pull. Even with an outstanding warranty I asked to be included, (best I've seen in the industry), and GAP insurance, my payment was reduced by almost $200.00 a month. I would recommend this company all day long to whoever I know that has to do a refi. Finally, I was out (15) months from a bankruptcy, and yet Alek was able to help me under these circumstances. I was told that it's possible that if you are even about (6) months away from a BK 7, but have a little credit history built up, you may still qualify. Obviously, everyone's circumstances are different. Thank you very much again Alek, and MotoRefi, you just got me away from a well known subprime lender with a greater lower rate.

If you want a company that lures you in with false promises of low rates and incorrect monthly payment quotes, look no further. I was quoted at a great rate and monthly payment, so I started putting together my documents for the loan. First I looked on this website to see that it had a great reputation, but I wish I wouldn't have wasted my time. When I received the loan documents, all the numbers and rates were different. I understand that this isn't a perfect science, but at no moment were any discrepancies discussed with me. After being asked to sign, I reviewed the documents to find that my APR was higher, GAP coverage cost more than I was told, they had the incorrect loan amount, the incorrect loan length - when changed to the correct length, my payment was $37 higher than quoted, or $1776 more total dollars - AND this was the first time I even heard of a $399 processing fee. I was told that this is how the company makes money, when I always though it was the interest charges. No matter what, these things need to be discussed with a customer before you ask them to sign something so important. To me, it feels as if they were attempting to lure me in with false promises and that I wouldn't be thorough enough to recognize that they had changed the terms we discussed. Overall, I can't trust them, and I feel it is my duty to warn you against trusting them as well.

Arthur Scott at Caribou was extremely helpful at getting our auto loan refinanced. After getting denied from our regular bank due to the mileage on our vehicle, I went online and read reviews for a few different auto loan/refinance companies. Caribou got good reviews, so I applied online on a Tuesday night. Arthur called Wednesday morning and asked what we were looking for refinance. He was able to give us a few options without a hard credit pull. Once we selected an option, he submitted our application and in less than an hour we had approval. I was able to upload most of the required documents using my phone. There were a few documents for the title swap that we had to print and sign, and Arthur provided a FedEx label for us to get them sent off. By early Friday morning we had our final approval and notification that a check would be sent to our lender to pay off our current loan. Using Caribou to refinance our vehicle was very easy. Arthur walked us through the process step-by-step, and called and texted multiple times in order to make sure that Arline got approved as quickly as possible. Did I mention that we got a super low interest-rate compared to our current loan? This will allow us to to pay off the car sooner and pay less in interest charges. Overall, I have been extremely pleased with the service that we received from Caribou and particularly from Arthur ***.