About RoadLoans

RoadLoans is an Internet-based direct-to-consumer lender. We specialize in financing and servicing auto loans for customers with less-than-perfect credit.
RoadLoans offers financing in select states. We currently do not offer loans to residents of Alaska, Hawaii, New Hampshire, Mississippi, and Nevada.
Yes. RoadLoans gives qualifying customers the opportunity to lower the payments on your current auto loan. Apply now.
At this time we do not offer leasing.
No. Because we already offer competitive rates for auto financing, we are unable to offer further discounts.
The information you submit in your credit application is protected and encrypted along the way. Specifically: SSL 3.0, RC4 with 128 bit encryption (high); RSA with 1024 bit exchange. Certificate issued by the Secure Server Certification Authority/VeriSign.
You should submit your secure online application to RoadLoans when you are ready to buy a car. You will receive a loan decision via e-mail. Approvals are valid for 30 days.
We recommend researching the price of the vehicle you are looking to purchase. Remember to apply for greater than the actual value cost of the of the vehicle, to allow room for tax, title, licensing, and other value-added products such as GAP or an extended service contract.
Yes. We may be able to include an additional borrower on the loan.

Concerning my credit – bad credit, bankruptcy

RoadLoans offers a range of products to meet the needs of customers across the credit spectrum. If you have less than perfect credit, we will work to approve you, along with our lending partners. You must submit a complete credit application to initiate the lending process. Please apply at RoadLoans.com to get started.

Concerning the loan – type, term, interest rate

RoadLoans offers financing for the purchase of a vehicle from a dealer within your state of residence, or refinancing your current auto loan.
The maximum amount you can borrow is based on your several factors. Key factors include your current income, financial obligations and credit history.
The annual percentage rate (APR) for a loan is based on the information contained in your loan application and other information provided by credit reporting agencies.
Special rate programs can be attractive if they are offered for the vehicle you want and have the appropriate terms. However, sometimes these loan terms are restrictive and only available to the very best credit customers. RoadLoans offers competitive rates specifically designed to help customers with less than perfect credit purchase a vehicle. Also, dealers may offer cash rebates as an alternative to a lower interest rate.
Our approvals are structured with the longest term possible. If you wish to pay the loan back sooner, you are free to do so. The loan is a simple interest loan and carries no penalty for early payment.
Daily simple interest is a method of allocating monthly loan payments between interest and principal. The amount of your payment allocated to interest is calculated based on your unpaid principal balance, the interest rate on your loan, and the number of days since your last payment. For example, if we receive a payment and it has been 15 days since your last payment, you will be charged 15 days of interest on the unpaid principal balance of your loan. The remainder of your payment is credited to principal and reduces the unpaid principal balance on your loan.
The amount of interest depends on the interest rate, the amount of money borrowed (principal) and the length of the time the money is borrowed. The formula for calculating simple interest is: Interest = Principal x Rate x Time. RoadLoans loans are all simple interest, meaning you don’t pay interest on interest (compounding). You can pay off the loan whenever you want without a penalty. Also, any extra payment applies to the principal.

Concerning the car/SUV/truck/van I want to buy

RoadLoans finances vehicles from dealerships that are generally 2007 models or newer, with less than 120,000 miles, with some restrictions. Restricted vehicles include: Cargo Vans, Passenger Vans, conversion vans/vehicles, commercial vehicles, vehicles greater than one (1) ton or vehicles with branded/salvaged titles. Minivans are eligible. Call us at (888) 276-7202 or e-mail us at loanhelp@roadloans.com if you have questions about the kinds of vehicles that are acceptable.
A franchised dealership is an automobile authorized by a manufacturer to sell new and used vehicles. It usually represents one or more automobile manufacturers such as Ford, Chevy or Toyota. CarMax is also considered a “franchise” dealer with RoadLoans.
If you trade in your vehicle when purchasing another vehicle from the dealer, the dealer will handle the payoff. After you negotiate the price of the vehicle and the price of your trade, the dealer will charge or credit you the difference between the value of your trade-in and the payoff amount on your loan. A negative or “upside down” trade occurs when the dealer offers you less than what you owe on the vehicle you are trading. In the case of a negative trade-in, you will need to pay the difference or roll the amount into your new loan – as long as it fits within the Loan-to-Value (LTV) guidelines of your RoadLoans loan approval.
Details about the franchised dealerships that accept RoadLoans financing will be provided in your loan packet.

After you apply

All primary applicants will receive an e-mail that provides instructions for obtaining information about the loan approval, amount and terms. If your loan is approved, you will receive instructions for obtaining and using your loan package. If we are unable to approve your loan application, you will receive a notification and letter explaining the decision.
Credit decisions are based on the information you submitted in your application and a review of your credit history. If you have questions about a loan decision, e-mail us at loanhelp@roadloans.com.

After you are approved

Upon receiving your approval – usually within minutes after applying – you will receive e-mail instructions for securely accessing your RoadLoans loan packet. Your packet will explain your loan structure, terms, usage, RoadLoans approved dealers and the required documents necessary to finalize your vehicle purchase. The packet will explain the buying process in greater detail. You may also call us at 888.276.7202 for assistance.
You will receive a voucher with your approved loan amount that can be used at a RoadLoans dealer. You will need to bring this voucher, along with the rest of the documents in your loan package, with you to the dealership.
It is important that you activate your loan and finalize your vehicle purchase prior to the expiration so that RoadLoans can guarantee your rate. Once your approval expires, you will be required to reapply through our Web site.
You are not obligated to use your approval package or RoadLoans loan voucher. If you decide not to use them, please securely destroy your loan documents. You can also call use toll-free at 888.276.7202 and we will cancel your voucher.
If for any reason the dealer is reluctant to proceed with finalizing your loan through RoadLoans, call us toll-free at 888.276.7202.
No. Use only what you need as long as the total amount falls within the minimum and maximum approved amounts and is less than or equal to the “loan-to-value ratio.” You may have the ability to add after-market accessories or extended service plans if the maximum amount will allow. Your loan will be activated for the amount that was filled in on the RoadLoans voucher that came with your loan package. If your purchase doesn’t require the full amount for which you were quailified, fill in the voucher with the lesser amount. Your dealer can provide you with the exact amount to fill in your voucher to complete your purchase.
Contact us toll-free at 888.276.7202 during business hours. Our loan specialists will review your application and determine if you qualify for a higher amount. Alternately, you may want to consider a co-applicant.
Loan approvals are valid for 30 days. If you do not use the loan by the expiration date, you will need to resubmit your application.
Mail insurance information to:Santander Consumer USA Inc. P.O. Box 183 Minneapolis, MN 55480-0183Insurance coverage is mandatory. Your contract includes a requirement to maintain an insurance policy on your vehicle that provides comprehensive and collision coverage, and to have a Loss Payee and Additional Insured Endorsement. Please make sure this information is correctly disclosed on the policy. Please call toll-free at (888) 276-7202 to update your policy information at any time.

At the dealership

Your RoadLoans voucher shows the dealer your approved maximum loan amount. The dealer will use this document in finalizing your loan purchase paperwork and transaction.
Your RoadLoans loan package will direct you to a RoadLoans dealer that will have a large quantity of quality vehicles that match closely to your desired vehicle make/model/year.
This is a number calculated by dividing the amount of the loan by the vehicle value published in a recognized auto pricing guide – like those published by NADA or Kelley Blue Book. For example: if the NADA price for the vehicle you select is $10,000 and your LTV ratio is 105%, you can spend up to $10,500 (including taxes, licenses, registration, after-market accessories, warranties, etc.) as long as the entire amount is less than your maximum approved amount. The pricing guide used to value vehicles varies by state.