Rob Looker

Blog > Recent Articles By Rob Looker

  The spread of Coronavirus (COVID-19) has restricted mobility for most of us, yet many people still need a car to perform the essentials. If you’re in the market for a vehicle, the good news is that there are dealerships still open for business and, for our part, RoadLoans remains ready to accept applications for credit. This is how our process works, along with tips for shopping and the benefits of online services during this time of social distancing.   Applying for a loan As a full-spectrum lender, RoadLoans has experience working with customers with a wide range of credit,… Read More

  Some dealers claim “we finance anyone,” but it may come at a price Other options include applying for approval before you shop   What are “buy here, pay here” dealerships? “Buy here, pay here” dealerships not only sell cars but effectively act as the bank, too, by providing in-house financing, typically for buyers with bad credit.* Interest rates can be higher than other lending options and customers make car payments directly to the dealership. They’re different from traditional dealerships that request financing from prospective lenders, with customers generally making payments to a third party.†   Pros of “buy here,… Read More

    Buying a car is one of the largest purchases you can make in life, which means researching the right model is usually top priority. While that’s important, so too is understanding the financing. Knowing how auto loans work will help you to find credit that offers best value for your needs. Auto loan arrangement An auto loan involves borrowing money from a lender that provides funds to pay for a vehicle up front. The borrower repays the debt in monthly installments, including interest, according to the agreed terms. Factors that affect an auto loan Three main factors affect… Read More

  If you’re interested in managing the cost of your vehicle loan, auto refinance is one option you should look into.* Refinancing a car is the process of taking out a new loan to replace an existing note. The refinanced loan is a fresh contract, typically with another lender, that gives you the chance to agree to different terms. In many cases, the borrower will refinance to save money on interest or get a more comfortable monthly payment. Here are four common scenarios. Lower monthly payment – Refinancing can reduce the monthly payment as a result of a lower interest… Read More

    Think what you might do with no auto payments in your budget. Take more vacations, enjoy more evenings out or build up a savings pot for the future, perhaps. Whatever it is, pay off your car early and not only is that debt behind you, but you may have made a decent saving in interest charges, too.* There are several common approaches to paying off a vehicle early, which center on the following: more frequent payments regular extra payments an occasional large payment a combination of the above options refinancing Start by getting familiar with the details of… Read More