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Where can I buy a car with my RoadLoans voucher?

Where can I buy a car with my RoadLoans voucher?
  Getting the go ahead on a car loan was the first step. Now comes the fun part – shopping for your next vehicle. To do that you’ll want to find the best dealer, and RoadLoans makes it easy. A recommended dealership is listed with your loan approval, which can be found in your online account and within your loan voucher. This dealership, located nearby, is able to show you select vehicles meeting our financing requirements and high standards for quality. You also have the option to use our dealer locator tool and search for others in the area. As… Read More
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Category: Financing, RoadLoans News

Preapproved auto loans give shoppers these 4 advantages

Preapproved auto loans give shoppers these 4 advantages
  While the car is undoubtedly the star, for most, the financing is just as important in the vehicle-shopping process. One thing you should know about as you begin that journey is preapproval, which means arranging your loan before visiting the dealership. Recommended by the Consumer Financial Protection Bureau, it offers the following strong advantages.   1. Save money Banks, credit unions, finance companies and online lenders all accept applications for preapproved auto loans, so it’s easy to shop around for the most attractive terms. If approved for a few loans, you can compare the interest rates, loan amounts and… Read More
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Category: Financing

Is it better to lease or buy a car?

Woman sitting in car at dealership
  Buying and leasing a car are two very different things, and each has its own merits according to what you want to get out of the vehicle. While buying tends to make more financial sense in the long run, you may have other priorities that leasing can accommodate, such as a lower monthly payment or a short-term commitment. Read through the benefits of both financing choices to help you decide on your next move.   Benefits of leasing a car Lower payments – In effect, leasing means you’re paying only for the depreciation of a vehicle over the course of… Read More
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Category: Financing

Preparing to apply for a car loan

Preparing to apply for a car loan
Applying for an auto loan is easy these days, but it still pays to prepare. Follow some simple steps and complete your application with confidence.   1. Check your credit reports Request your reports from the major credit bureaus to check for errors and dispute any you may find. Correcting mistakes is relatively quick – typically 10-14 business days according to Experian – and can be an easy way to give your credit score a lift.       2. Set a budget Use an affordability calculator to gauge how much you can spend on a car in total, and… Read More
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Category: Car and Driver Tips, Financing

Can you get guaranteed credit acceptance on a car loan?

Man driving car with credit acceptance auto loan
  Consumers who have established strong credit histories probably know they have a healthy chance of auto loan approval. For those with bad credit,* the situation may be less clear. Perhaps they’ve already been declined for financing, yet lenders offering guaranteed credit acceptance have caught their eye. In the end, the likelihood of driving away in a new set of wheels, and the price of their loan, depend greatly on which lender they picked.   “Buy here, pay here” dealers often advertise approval guarantees Offers of guaranteed approvals often come from “buy here, pay here” dealerships, whether advertised online or… Read More
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Category: Bad Credit, Financing

Can you get a high-mileage auto loan?

Auto loans for high mileage vehicles
    RoadLoans finances vehicles with up to 110,000 miles You may be able to get a high-quality used car at a great price   A well-traveled car is a different proposition these days. Whereas once 100,000 miles was a long-haul benchmark, improvements in technology and reliability mean more cars are now built to go well beyond 200K. That’s good news if you’re in the market for a high-mileage vehicle. There are still some risks to such a purchase – not all sellers will be offering reliable models, for example – but online lender RoadLoans enables its customers to shop with… Read More
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Category: Financing

Can I get approved for a car loan?

Can I get approved for a car loan?
  Can I get approved? When it comes to auto financing, it’s the big question, and auto lenders will consider a range of factors to provide you with an answer. Two, however, are typically most important – credit score and income. Credit score, firstly, is based in part upon your credit history, and those past experiences help a lender decide how likely you are to pay back a vehicle loan. Consumers with good credit habits are better placed to get a loan than those with bad credit, which is generally considered to be a score of 600 and below.* A… Read More
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Category: Financing

When is the best time to buy a car?

When is the best time to buy a car?
  5 great opportunities to find a deal The best time to buy a new car might simply be when you need it most. But if your purchase is not urgent and maximizing savings is your goal, there are some dates on the calendar it certainly helps to know about. The following are all smart times to visit the dealership and shop for a deal.   1. Late in the month The last week and particularly the last weekend of the month are often when dealership staff need to sell the final cars that enable them to meet their sales… Read More
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Category: Car and Driver Tips, Financing

5 car loan mistakes to avoid

Woman looking out of car driver’s seat window
  Steer past these potholes to reach the best deal on your financing Newcomers to auto financing, and even those who have financed before, can easily become smarter shoppers by learning from the mistakes of others. Here are five common car loan errors to avoid when buying a vehicle.   1. Not budgeting Spending thousands of dollars may not be something you can afford to do on impulse, so work out how much you can spend before getting dazzled by a shiny new vehicle. Consider what you might have as a down payment and trade-in allowance; budget what you can… Read More
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Category: Financing

Why used cars offer ‘compelling alternative’ to new as average prices rise

Average car price, new vs used
  The average price of both new and used cars has risen steadily in recent years, fueled by America’s appetite for large and expensive SUVs and trucks. But while brand new and preowned vehicle prices have each been on the increase, the difference between the two is still significant. The average new-car price was $37,285 in June 2019, according to Kelley Blue Book. By comparison, the average used-car price was $20,200 for the first quarter of the year, Edmunds data shows. Over the last five years, new-vehicle prices have risen by more than $4,000, with prices for used going up… Read More
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Category: Financing