Is Caribou a direct lender?

No, Caribou is a technology company that partners with an extensive network of reputable lenders to bring you the best deal on auto refinancing.

Does Caribou allow co-borrowers when refinancing your vehicle?

Yes, you can apply with a co-borrower if they reside in a state that permits co-borrowing on auto loans.

Yes. Caribou is a legitimate online service that is accredited by the Better Business Bureau (BBB). It earns high customer reviews on Trustpilot as well.

Caribou: 2025 Auto Loan Review

At a glance

Find my best rate

with Bankrate

Not all displayed lenders are available for pre-qualification through Bankrate, and we cannot guarantee any specific rate. We'll provide you with the best offers available from our partners.

4.5

Bankrate Score

Availability

4.5

Affordability

4.2

Customer Experience

4.0

Transparency

5.0

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Full methodology

Bankrate’s take

Founded in 2016, Caribou offers a platform for easily comparing auto loan refinance offers. You can even add a co-borrower, which most similar services don't allow. But watch out for a hefty processing fee that your new lender may pass on to you.

Lender Details

Loan amount

$10,000-$125,000

APR from

5.48%-28.55%

Min Credit Score

640

Funds available in

Varies by lender

Caribou auto loans are best for comparing rates

The goal of refinancing your auto loan is to walk away with a more affordable monthly payment. One way to ensure that you effectively do this is through comparing lenders. Caribou expedites this process by matching borrowers with different loan rate options when you apply for prequalification.

Types of auto loans offered

Caribou only offers auto refinance loans — which is a limited selection compared to most other services.

Auto loan refinancing

Amounts: $10,000-$125,000
Terms: 24-84 months
APR: 5.48%-28.55%

Through Caribou's lender partnerships, you can refinance while also shopping for other add-on products like extended protection, cosmetic care and key replacement services. It is one of the few refinancing options that lets you add a co-borrower to your application, but you will be stuck with a much higher minimum loan amount. Expect to borrow at least $10,000, although terms and loan amounts vary by lender.

Where Caribou auto loans stand out

Quick rate comparison: Caribou works with a network of different lenders, allowing you to compare refinancing rates directly through Caribou’s site.
Co-borrowers allowed: You can add a co-borrower when applying for refinancing with Caribou. If your co-borrower has a higher income or better credit than you, you may qualify for lower rates.
Insurance bundles available: Caribou offers auto loan add-ons like gap insurance and key replacement. While these products aren’t always necessary, bundling may help you save money if you do want to use them.

Where Upstart personal loans falls short

Limited state availability: Caribou is not available to drivers in Maryland, Mississippi, Nebraska, Nevada or West Virginia.
Potential high processing fee: While Caribou doesn’t charge you directly, the lender you’re matched with might pass the $499 processing fee to you.
High minimum loan amount: Many lenders set their minimum amount below $10,000. If you are close to paying your loan off, Caribou may not help you.

How to contact Caribou

According to its reviews, Caribou offers excellent customer service. You can enjoy a fully online experience with the comfort of person-to-person communication. If you have specific questions, you can reach out for help by emailing its customer support team at contact@gocaribou.com. If you prefer, you can also call Caribou at 877-445-0070. Support is available Monday through Friday from 9 a.m. to 8 p.m. ET and on weekends from 9 a.m. to 4 p.m. ET.

How this lender compares

Caribou vs. RateGenius

Like Caribou, RateGenius serves as a loan aggregator, so you can compare different loan options simultaneously. It handles the research phase of the shopping process and matches you based on your credit and finances. And unlike Caribou, RateGenius allows you to refinance loans as low as $8,000.

Caribou vs. Upstart

Caribou requires you to owe at least $10,000 to qualify — but Upstart has a low loan amount of $3,000. This can be useful if you’ve already paid down a majority or your loan or didn’t borrow much to begin with. While it doesn't allow co-borrowers, it has a low minimum credit score requirement of just 510. When matching you with a lender, it also considers your education and work history, not just your credit score.

Caribou vs. Upstart: Full review

Do you qualify for an Caribou auto loan?

Caribou has a minimum credit score requirement of 640 and a minimum monthly income of $2,000. Both are fairly standard auto loan refinancing requirements. You can expect a soft credit pull that will not affect your credit score when you prequalify. If you do choose a loan and follow through with an application, the process will include a hard credit pull.

Your car should have positive equity and no more than 120,000 miles. Cars, trucks, SUVs and other passenger vehicles are eligible for refinancing, but they must not be used for commercial purposes.

How to apply for a loan with Caribou

To apply for a loan with Caribou, head to its website and submit basic information about yourself and the details of your vehicle and current loan.

1. Check your rate: Input some personal information on yourself and your vehicle — no Social Security number required at this stage — to receive your quotes. This step can take as little as a minute, and you’re not obligated to accept any offers that you prequalify for.
2. Select your loan offer: You can then choose which offer works best for you. This step will also present you with other products such as insurance, key replacement, cosmetic care, total loss protection or extended protection.
3. Finalize your refinance loan: Finally, you will be prompted to share more personal information. You may need to upload proof of insurance, residence or your finances in order to finish the process. If you are approved, you will sign your new contract. From here, either you or your lender will need to pay off your previous auto loan.
- Name
- Social Security number
- Contact details
- Citizenship status
- Vehicle information — such as VIN, license plate number, and the make, model and trim
- Current loan and lender details
- Proof of income — such as most recent pay stub or W-2

Features and additional perks

Caribou offers add ons and other products when you apply to refinance. You can also apply with a co-borrower, which can improve your chance of approval and help you snag a lower interest rate.

Fees and penalties

You may be charged a $499 processing fee when you refinance. However, it is an optional fee passed on to you from your lender — not directly by Caribou. Any fee for a loan connection service is uncommon, though, so you may want to consider another option if you want to avoid this cost.

Caribou FAQs

No, Caribou is a technology company that partners with an extensive network of reputable lenders to bring you the best deal on auto refinancing.
Yes, you can apply with a co-borrower if they reside in a state that permits co-borrowing on auto loans.
Yes. Caribou is a legitimate online service that is accredited by the Better Business Bureau (BBB). It earns high customer reviews on Trustpilot as well.

How Bankrate rates Caribou

Overall score	4.4
Availability	4.5	Caribou is available in most states and offers a wide range of loan amounts, though its minimum could be lower.
Affordability	4.0	Caribou uses standard qualification requirements and charges a steep processing fee.
Customer experience	4.2	Caribou has online access and customer service hours seven days a week.
Transparency	5.0	Caribou offers prequalification so you can check your rates without damaging your credit score.

Methodology

The Bankrate team assessed more than 35 auto lenders to find the best. Bankrate considered 18 criteria, such as acceptance criteria, loan amounts and APR range. These scores are broken into four categories.

Availability: Loan amounts, repayment options, dealership requirements and state availability all contribute to this category. Lenders that serve customers nationwide with flexible loan amounts rank higher.
Affordability: This section houses APR ranges, acceptance criteria, fees and discounts. Lenders with the lowest rates, fewer fees and most generous acceptance criteria receive higher scores.
Customer experience: Our team looked at how easy it is for customers to apply for and manage their loans. Criteria include how long you have to shop, customer service hours, whether there’s an app and autopay availability.
Transparency: This includes prequalification and disclosure of rates and fees. We favored lenders that make it easy for customers to preview possible costs.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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Caribou auto loans: 2025 review

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