Your questions, answered.

Yes — and it's more common than most people realize. When a dealership arranges financing, the lender approves you at a base rate, but the dealership is permitted to mark that rate up and keep the difference as additional profit. This practice is legal and widespread across Canada. Even drivers with credit scores above 700 or 750 often end up paying rates well above what they'd be offered through a direct lender. Refinancing through Revenoo removes the dealer markup from the equation entirely.

Rates vary based on your credit profile, loan amount, remaining term, and vehicle details. However, many prime customers we work with — those with solid credit histories and stable income — qualify for rates in the 5.5–6.5% range, compared to the 8–10% they were paying through dealer financing. Your free quote will show you exactly what's available to you.

As a general guide: if your current interest rate is more than 1.5–2 percentage points above what you'd qualify for today, refinancing is likely to produce meaningful savings — especially if you still have 24 or more months remaining on your loan. The earlier you refinance, the more interest you save, since loans are front-loaded with interest in the early months. Our free quote gives you the exact numbers with no commitment required.

Not at all. As long as you have a remaining loan balance and your vehicle meets eligibility requirements, you can refinance at any point during your loan term. That said, the sooner you refinance, the more you stand to save — since the bulk of interest is paid in the earlier months of a loan. We'd encourage you to get a free quote and see the numbers for yourself.

Our initial application process uses a soft credit inquiry, which does not affect your credit score. A hard inquiry is only conducted when you choose to proceed with a specific lender offer.

Absolutely. We work with customers across the full credit spectrum, including those who have experienced financial difficulties. There is no minimum credit score required to apply. Our lender network includes specialists in non-prime auto refinancing, and we will find the best options available to you based on your complete financial profile.

Refinancing can help by extending your repayment term, which reduces your monthly payment and gives you financial breathing room. While you may pay more in total interest over a longer term, the immediate relief on your monthly budget can be significant. We present every option with full transparency so you can make the right decision for your situation.

Our initial application process uses a soft credit inquiry, which does not affect your credit score. A hard inquiry is only conducted when you choose to proceed with a specific lender offer.

Negative equity (owing more than the vehicle is worth) can make refinancing more complex, but it does not automatically disqualify you. Our team will review your situation honestly and present whatever options are available to you.

No. Revenoo is committed to full transparency. Any costs associated with your new loan will be clearly disclosed before you sign anything. We do not charge application fees, and we will never present you with a surprise charge.