Can you get a high-mileage auto loan?

Auto loans for high mileage vehicles


  • RoadLoans finances vehicles with up to 120,000 miles

  • You may be able to get financing for a great quality used car above or below 100K


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 is 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 confidence. We work with trusted auto dealerships able to show preapproved loan customers select, high quality models meeting our standards for age, mileage and financing. That includes preowned cars, trucks and SUVs nine years old or newer, and with up to 120,000 miles.

Here are a few things to know about auto loans and high-mileage vehicles as you approach the car-buying process, to help you make the best decisions for your situation.


3 Things to know about financing a high-mileage car

  • Think about how long you want to keep the car – If you only intend to drive it for a couple of years, you may not want a lengthy loan.
  • Avoid a car and a loan that could put you ‘upside down – A vehicle that’s likely to lose value to the point where it’s worth less than the outstanding balance on your financing contract can cause problems as and when you choose to sell it. Shorter loan terms and a good down payment help to avoid this.
  • A shorter loan may be on the cards if you have bad credit* – Borrowers looking to buy a high-mileage vehicle because of poor credit may be offered a shorter term to offset the lending risk associated with their credit history. All other things being equal, shorter loans come with higher monthly payments, but that will mean less interest is paid over the life of the loan, and the car is paid off quicker.


Can I refinance a high-mileage vehicle?

If may be that, after buying a high-mileage vehicle, you want to refinance for new loan terms. Perhaps your credit has improved since you took out the loan or market interest rates have dropped and you want to take advantage. While RoadLoans and parent company Santander Consumer USA do not accept refinance applications from existing customers, if your contract is with another lender and the vehicle is seven years old or newer, with up to 105,000 miles, you can go ahead apply with us today. Just like applying for a loan to purchase a car, it’s a quick and easy process. And if approved, you may be able to start saving with a lower monthly payment, interest rate, or even get cash back.†


See if you’re approved

Buying a high-mileage vehicle might give you some doubts. Can I get approved for financing so I don’t have to pay cash? Can I get an affordable payment? Will I be able to find a good quality vehicle? At RoadLoans, we have years of experience helping customers get on the road in the right cars with the right financing for their needs. It’s free to apply and, if approved, you’ll receive multiple loan offers and details of a friendly dealership nearby. So, if you’re looking to finance a good preowned vehicle, complete our secure, online application to get an instant loan decision.

Apply for a car loan online.


* “Bad” or “Poor” credit generally is considered a FICO score around 600 and below by sources including the Consumer Federation of America and National Credit Reporting Association (reported by the Associated Press),,, Investopedia, and others. The Congressional Budget Office identifies a FICO score of 620 as the “cutoff” for prime loans. FICO scores are not the sole factor in lending decisions by and Santander Consumer USA.

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