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Valued Member
Posts: 31
Registered: ‎04-08-2007
0

roadloans . What scores are needed.

Any advice on roadloans?
Established Member
Posts: 11
Registered: ‎06-20-2007
0

Re: roadloans . What scores are needed.

Good Morning,
 
I have a roadloans loan and I think the score I have when i got my vehicle was 540 or something. And my APR is about 16.5. Yup Ouch, but that the price I had to pay to get a new vehicle. But Now that I have read and done alot of thisngs on this board, with in the 4 months I have been reading and suffering here in IRaq my scores are in the 650's. .... Ready to refinance.  Hope some of what i was babling about helped.
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: roadloans . What scores are needed.

Regular Contributor
Posts: 165
Registered: ‎07-08-2008
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Re: roadloans . What scores are needed.

IF AT ALL POSSIBLE TRY TO AVOID THEM (ROADLOANS)... TRY A CREDIT UNION, DEALERSHIP, EVEN HSBC AUTO. AT FIRST I WENT WITH ROADLOANS BECAUSE PEOPLE AT MY PLACE OF EMPLOYMENT WAS RAVING ABOUT THEM. I GOT A $20000 CHECK WITH 18% APR FOR 72 MONTHS. MY SCORES WERE: TU-663, EX-633, EQ-649... I CALLED ROADLOANS AT THE DEALERSHIP TO ASK FOR A LOWER APR(THEY PULLED EQUIFAX). THEY SAID MY CREDIT DID NOT MERRIT A LOWER APR. FORTUNATELY MY DEALER THOUGHT SO 10.9% FOR 48 MONTHS. OH BY THE WAY...I JUST FINISHED SHREDDING THAT BLANK $20000 CHECK.
I've been where you are trying to go and I don't wanna go back.
Established Member
Posts: 51
Registered: ‎07-01-2008
0

Re: roadloans . What scores are needed.

Hi... I am now on my second loan with Road Loans (actually, they just sold my
loan to another bank but I can still share my experience with you).  If... your credit
score is not that great (like mine), we don't always have the option of going with
lower APR financing at a credit union, bank, etc.  If that is true in your case, I think
Road Loans is fine given the situation.  You can always try and refi your loan later
if need be to get a better APR.  If you do use Road Loans and get their blank check
sent to you, just make sure to read everything carefully and follow all their directions
to the letter and you should be fine.  I think their customer service is pretty good.
I have had no issues with them on either loan I have had.
 
This last purchase I made (about a month ago), I was also approved by Toyota
but I really didn't want a Toyota and their approval was very restrictive.  If you might
want a Toyota, you can apply with them on line and get a response fairly quickly.
Also, Ford Credit seems to be lenient in financing, you can apply with them on line
as well. I have found GMAC, Chrysler and Honda to be harder to get approvals with
(in my experience).  I think Nissan is another one that you might try.
 
Good Luck!
 
 
Frequent Contributor
Posts: 401
Registered: ‎05-01-2007
0

Re: roadloans . What scores are needed.

I went to Lending Tree and received a few "YES"s on auto loans. (cap1 said no and i have 2 CCs with them.) Roadloans approved me with 16% and Directloans 13.99% were the lowest. When i went to the dealership (Nissan) with the checks they gave me a slightly better deal with 13% from AmeriCredit.(the finance guy negotitated the deal with the finance company. I have a 2007 Nissan Xterra with my FICO scores below 550. Thanks Nissan.  so far my scores are slowly going up (despite me having slow payments with SallieMae). I make my payments on time and have never been late. Keep trying if i can get a $30,000 truck with FICO scores below 600 you can get financed. Shop around for better deals. Try a CU (unfortunately my CU declined be because of SallieMae).
FICO Scores 7/15/2008: EQ 600, TU 546, EX 490
9/17/08 - TU 571,12/17/08 649,3/16/09 638, 6/14 642
ScoreWatch 12/17/08 EQ 646, 1/2/ 09 664, 2/2/09 684,2/12/09 673, 2/16/09 688, 2/27 674,3/3 682,4/16 685, 6/28 679
1/2/09 EX 668 2/13/09 669
AS of NOV08 I am Credit card debit free. I AM A MYFICO.COM ADDICTED Smiley Happy ~
Senior Contributor
Posts: 3,534
Registered: ‎11-30-2007
0

Re: roadloans . What scores are needed.

I went with roadloans for a used vehicle and have had no issues with them.  Our rate is 11%, which was the going rate (at the time) for used vehicles. 
 
One word of warning....there is NO grace period.  If you're due on the 1st of the month, pay up or they will hound the he** out of you.
 
They have been very easy to work with over the phone though.  I had an issue where I knew I couldn't get the payment on time and the rep actually reversed the late fee after I called to explain.
 
There is a $7 monthly fee to pay over the phone, so use online billpay.
 
YMMV
Regular Contributor
Posts: 113
Registered: ‎10-21-2007
0

Re: roadloans . What scores are needed.

I got 8.25 last summer with scores in the 660s with a 4 yr dismissed ch13.
New Visitor
Posts: 1
Registered: ‎07-04-2011
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Re: roadloans . What scores are needed.

I just got approved with them for a 14,000 dollar loan with an interest rate of 25%. Are they out of there mind? Don't go with this place try Wells Fargo.

Valued Contributor
Posts: 1,175
Registered: ‎05-20-2010
0

Re: roadloans . What scores are needed.

[ Edited ]

chrissy31 wrote:

I just got approved with them for a 14,000 dollar loan with an interest rate of 25%. Are they out of there mind? Don't go with this place try Wells Fargo.


Even though this is good advice, you're about 4 years late. Smiley Tongue

CH7 Discharged: 4-14-16
Rebuilding in Progress.....
May 2016 - EX: 594, TU: 582, EQ: 619
July 2016 - EX: 629, TU: 600, EQ: 622

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