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Finding an auto loan during bankruptcy

Finding an auto loan during bankruptcy
  When financial setbacks occur, bankruptcy is sometimes the best way forward. Life moves on and, for most people, a car is essential to that process. But can you get a car loan while in bankruptcy? It depends, in part, on the type of bankruptcy for which you’re filing. The two common forms of personal bankruptcy are Chapter 13 and Chapter 7.   Financing while in Chapter 13 bankruptcy Chapter 13 enables a debtor with a steady income to keep hold of property they might otherwise lose to the bankruptcy process. A plan is created to pay creditors all or… Read More
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Category: Financing

Can you get guaranteed auto loans for bad credit and no money down?

Can you get guaranteed auto loans for bad credit and no money down?
  There are times in life when your credit score is low yet a car purchase just can’t wait. Times, also, when you don’t have the cash at hand for a down payment. It’s not ideal but, fortunately, there are lenders willing to help many consumers in this kind of situation move forward. RoadLoans, an online, full-spectrum lender, is one of them. As every consumer’s position is different, we can’t offer a guaranteed auto loan for bad credit and no money down. We do, however, have great experience in working with customers who have bad credit,* and enabling them to… Read More
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Category: Bad Credit, Financing

Improve your car-shopping experience with an auto loan calculator

Woman with calculator and pen in hand
    The dealer hands you the keys, you take the wheel and drive off the lot reveling in your shiny new vehicle purchase. What could be better? Knowing you’ve made a great choice for your finances, as well as your driving wants and needs, could make it all the sweeter now and for the years to come. That’s why it’s well worth using an auto finance calculator before you shop. Online tools such as RoadLoans’ affordability and monthly payment calculators give consumers a number of advantages as they search for their next car and the best financing arrangements. Auto… Read More
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Category: Financing

How many years can you finance a new or used car?

Hand holding pen signing car loan contract
    The trend for longer auto loans means some consumers can qualify for financing up to 96 months, or eight years, should they want it. The average loan term, meanwhile, stands at almost 69 months for new and 65 months for used vehicles, according to Experian data for the start of 2019. Rising auto prices and consumer preferences for large, costly SUVs have contributed to this pattern, and increasing the loan term is an effective way of getting an affordable monthly payment. However, while a low car payment is always appealing, it’s not always the best financial move. A… Read More
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Category: Financing

How RoadLoans works: I got my car loan, now what?

How RoadLoans works: I got my car loan, now what?
  It’s time for a broad smile. Your RoadLoans approval means you now have a big advantage as you move onto buying your next car. Preapproval gives you the terms of your financing before visiting the dealership so that, on arrival, you can focus on selecting the right model and negotiating a great deal on price. Your next step is to download and print your loan packet, gather the required supporting documents, and visit the preferred dealership located nearby. You’ll find details of your dealership within your loan papers. Alternatively, you can use our dealer locator to find another. We… Read More
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Category: Financing

Check out average auto loan rates according to credit score

Average car loan rates infographic
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Category: Financing

Car terms to know when trading in

Car terms to know when trading in
  Trading in may be a convenient way to sell your current car and put that money toward the cost of a new one. Knowing the following terms may help you walk into the dealership with the confidence to negotiate a better deal.   Trade-in value The trade-in value of your car is the amount that your dealer is willing to offer you to buy your vehicle. This amount can be influenced by a number of factors including the vehicle’s age, mileage and condition, demand for such a model, and your location.   Trade-in allowance Once you have agreed on… Read More
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Category: Financing

When should you trade in your car?

Man holding car keys on a vehicle trade-in
  Most buyers will, at some point down the track, come to the question of when they should trade in for another vehicle. To a large degree, what makes most sense is determined by a vehicle’s reliability and its depreciation in value. Let’s take depreciation first.   Understand your car’s depreciating value New cars lose 20 percent of their value after just one year, increasing to 50 percent after three. On that basis, you may not want to trade in your car during its early years, just after you’ve suffered the biggest part of the depreciation loss. Rather, you might… Read More
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Category: Financing

What is RoadLoans and how can it help me?

Man and woman smiling in convertible car
    If quick and easy auto financing works for you, then consider RoadLoans. We’re the online lender that enables customers to get a credit decision in minutes and enjoy a streamlined process to their new car or refinanced loan. As part of national auto lender Santander Consumer USA, we work with customers with a broad range of credit profiles, and flexibility is at the center of our approach. Besides giving consumers the chance to apply for financing whenever it suits them, RoadLoans provides customers with multiple loan offers to meet their individual needs. If approved for a new or… Read More
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Category: Financing, RoadLoans News

Consider your car-buying options as Tax Day approaches

Man and woman looking at laptop screen
    The deadline for filing tax returns, Tax Day, April 15, is just ahead. And if you’re one of millions expecting money back, you may also be thinking about using that cash as a down payment on a vehicle. To help with the fun part, peruse the following articles as you wait for your check or finish off your return. Listed below is a selection of recent RoadLoans blogs featuring award-winning and highly recommended cars from a number of automotive sources.   Best cars, SUVs (and minivan) for your money – U.S. News The happy meeting place of quality… Read More
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Category: Financing