Here's a good rule to go by. If it seems too good to be true, well then it probably is. My husband and I were approved for a pretty hefty auto loan (around 30k) with a pretty hefty interest (17.5%). But hey. We expected a high interest rate. Our credit is bad. But our loan was for zero down. Which is perfect. We got approved an went to our local in network dealership. Who first looked at the approval and sent us on our way. A few days later the dealership called us back informing us of our approval. Ok. This time I called customer service. Which by the way.. Sounded like the lady on the line was in a car or somewhere with heavy wind. But was very polite. She confirmed that the loan was an actual approval. We had to have a car 2005 or newer. Under 60,000 miles in order to get a loan for 72 months. Or, if the car was over 60,000, it would shorten the loan term. Seems fair. We even used roadloans payment calculator. Fast forward to the next day. We go to the dealership. They spend an hour on the phone with roadloans. The ONLY way we could get approved would be for a rand spankin new car. Approved for zero down. That is. Why? Per roadloans policy, the dealer must agree to sell a car for 80% of it's value. And roadloans still has to approve the car! So there is very little freedom of choice. So the dealer found a $20k car and marked it down to 17k. Ok with that interest rate. The payments would be out the roof. And even if we put $2000 down it wouldn't have made the payment much lower. From my understanding. They charge pretty high fees to the dealership too. I think roadloans would be good if you found the perfect car. Under the perfect circumstances. But basically. The dealership has to agree to cut off 20% of the price, pay a high dealer fee... It's crazy. But it is very deceptive. The website makes it seem so straight forward. No down. Set interest rate. And loan amount must be at least $6500. In my opinion. Is rather just save the headache. Save some cash. And buy a car flat out. Or if you're like us with bad credit. Try to fix the credit situation before applying for a loan. Chances are, you might come out a lot better.
Roadloans.com aka Santander Consumer USA claims to be a car loan provider, but in reality this company whose real business name is SANTANDER CONSUMER USA is using a part of its business under the name of ROADLOANS to interfer, prey on people personal information on behalf of ripoff car dealers.
What this company does when it seperated its business in two: Santender Consumer USA and Roadloans, it's to make money on people who have bad credit and deperate to buy a car. Once you sign up with Roadloans, you will receive a ""LOAN APPROVAL"". THE LOAN IS FAKE! But the loan will detail you how to proceed to get your car.
Then you follow up with what it says, but next there comes the pain: DEALERS will get ALL your personal information, such as running your credit, then they will tell you they want to give you better offer then Roadloans, and if you refuse their offer then they will tell you they do not do business with Roadlaons.
Roadloans it's a referral for dealers that HELP bring people to the car dealers and get paid from the dealers for every customer the dealers feel deem satisfy if the customer pay BIG DOWN PAYMENT on a car.
Most dealer with intergrety do not do business with Roadloans because they said it is not real, and it has been proven to me.
I got that "" YOU'RE APPROVED!"" from Roadloans, but insteand of getting a car, I ended facing privacy intruders, loosing energy looking for dealers that Roadloans told me that take it, and also face with discrimination by DEALERS that work with ROADLOANS such as CARMAX.
At Carmax, it was a different story, because Carmax is doing close business with Roadlaons, but CARMAX has DISCRIMINATED against me because of public assistant source of income for ROADLOANS when I got in two of the CARMAX store.
Carmax working for Roadloans company and they did not like what they see about me, such as credit score, my source of income and therefore they were looking for excuses to denie me EQUAL LENDING RIGHT.
First, the first store I went said it could not proceed the ROADLOANS LOAN voucher, because I am on Public SSA SSI payment, but my co-pay was ok...
At the second store I went after explained what happened to me from previous store, now they said my payment was ok, but my co-pay person has not been on the job for six month and they could not give me a car.
But, however, the worst part of this report, not only ROADLOANS FAKE LOAN, but the MOST PART is use FRADULENTLY of my PERSONAL INFORMATION by many dealers because of Roadloans SCAM LOAN APPROVAL in believe that I was gotta get a car with a loan approval, when instead I ended up had my personal information everywhere mi-used.
Roadloans.com Reviews
Here's a good rule to go by. If it seems too good to be true, well then it probably is. My husband and I were approved for a pretty hefty auto loan (around 30k) with a pretty hefty interest (17.5%). But hey. We expected a high interest rate. Our credit is bad. But our loan was for zero down. Which is perfect. We got approved an went to our local in network dealership. Who first looked at the approval and sent us on our way. A few days later the dealership called us back informing us of our approval. Ok. This time I called customer service. Which by the way.. Sounded like the lady on the line was in a car or somewhere with heavy wind. But was very polite. She confirmed that the loan was an actual approval. We had to have a car 2005 or newer. Under 60,000 miles in order to get a loan for 72 months. Or, if the car was over 60,000, it would shorten the loan term. Seems fair. We even used roadloans payment calculator. Fast forward to the next day. We go to the dealership. They spend an hour on the phone with roadloans. The ONLY way we could get approved would be for a rand spankin new car. Approved for zero down. That is. Why? Per roadloans policy, the dealer must agree to sell a car for 80% of it's value. And roadloans still has to approve the car! So there is very little freedom of choice. So the dealer found a $20k car and marked it down to 17k. Ok with that interest rate. The payments would be out the roof. And even if we put $2000 down it wouldn't have made the payment much lower. From my understanding. They charge pretty high fees to the dealership too. I think roadloans would be good if you found the perfect car. Under the perfect circumstances. But basically. The dealership has to agree to cut off 20% of the price, pay a high dealer fee... It's crazy. But it is very deceptive. The website makes it seem so straight forward. No down. Set interest rate. And loan amount must be at least $6500. In my opinion. Is rather just save the headache. Save some cash. And buy a car flat out. Or if you're like us with bad credit. Try to fix the credit situation before applying for a loan. Chances are, you might come out a lot better.
Roadloans.com aka Santander Consumer USA claims to be a car loan provider, but in reality this company whose real business name is SANTANDER CONSUMER USA is using a part of its business under the name of ROADLOANS to interfer, prey on people personal information on behalf of ripoff car dealers.
What this company does when it seperated its business in two: Santender Consumer USA and Roadloans, it's to make money on people who have bad credit and deperate to buy a car. Once you sign up with Roadloans, you will receive a ""LOAN APPROVAL"". THE LOAN IS FAKE! But the loan will detail you how to proceed to get your car.
Then you follow up with what it says, but next there comes the pain: DEALERS will get ALL your personal information, such as running your credit, then they will tell you they want to give you better offer then Roadloans, and if you refuse their offer then they will tell you they do not do business with Roadlaons.
Roadloans it's a referral for dealers that HELP bring people to the car dealers and get paid from the dealers for every customer the dealers feel deem satisfy if the customer pay BIG DOWN PAYMENT on a car.
Most dealer with intergrety do not do business with Roadloans because they said it is not real, and it has been proven to me.
I got that "" YOU'RE APPROVED!"" from Roadloans, but insteand of getting a car, I ended facing privacy intruders, loosing energy looking for dealers that Roadloans told me that take it, and also face with discrimination by DEALERS that work with ROADLOANS such as CARMAX.
At Carmax, it was a different story, because Carmax is doing close business with Roadlaons, but CARMAX has DISCRIMINATED against me because of public assistant source of income for ROADLOANS when I got in two of the CARMAX store.
Carmax working for Roadloans company and they did not like what they see about me, such as credit score, my source of income and therefore they were looking for excuses to denie me EQUAL LENDING RIGHT.
First, the first store I went said it could not proceed the ROADLOANS LOAN voucher, because I am on Public SSA SSI payment, but my co-pay was ok...
At the second store I went after explained what happened to me from previous store, now they said my payment was ok, but my co-pay person has not been on the job for six month and they could not give me a car.
But, however, the worst part of this report, not only ROADLOANS FAKE LOAN, but the MOST PART is use FRADULENTLY of my PERSONAL INFORMATION by many dealers because of Roadloans SCAM LOAN APPROVAL in believe that I was gotta get a car with a loan approval, when instead I ended up had my personal information everywhere mi-used.