Open Road Lending only offers vehicle refinancing at this time. Vehicles cannot be older than 8 model years and must have under 140,000 miles. OpenRoad Lending’s terms and requirements are industry standard and acceptable.
OpenRoad Lending Auto Loans Review
OpenRoad Lending provides refinancing loans at competitive interest rates. They do not fund loans themselves but connect potential borrowers with lenders.
OpenRoad Lending Auto Loans Highlights
LOAN AMOUNT
$7,500 - $100,000
LOAN REPAYMENT TERM
36 - 84
MIN CREDIT SCORE
500
APR FIXED RATE
2.49% - 28.00%
FUNDING TIME
1 days
ORIGINATION FEE
None
PREPAYMENT FEE
None
OTHER FEES
None
MAX VEHICLE AGE
8 years
SOFT CREDIT PULL
Yes
LENDER TYPE
Marketplace
Pros & Cons
- A soft credit check is performed
- Loan care agents are well-trained in refinancing and are very helpful
- Applicants can apply online or by phone
- Social Security number required to submit an application
- No loans for applicants who are self-employed
- Not available in all states
Vehicle Types
- Car
- Truck
OpenRoad Lending Refinance Highlights
REFINANCE AMOUNT
$7,500
OpenRoad Lending Auto Loans Terms & Requirements
How to Apply
The process to apply for a vehicle loan through OpenRoad Lending is fast, with only one screen to complete, which includes personal and vehicle information:
Screen 1
Personal information
Qualification Requirements
- Minimum FICO credit score: 500.
- Minimum credit history: Four months.
- Minimum annual gross income: $24,000.
- Maximum debt-to-income ratio: Did not disclose.
- Bankruptcy-related restrictions: Discharged bankruptcies are OK.
Required Information
Will vary by lender, but may include:
- Proof of address
- Last pay stub to verify income
- Driver’s license
- Banking information
Application Steps & Time Frames
- Complete application (5 minutes)
- Wait for approval or decline (usually under 5 minutes)
- Receive funding (usually 1-3 business days, depending on the lender)
State Availability
Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wyoming.
Not Available - Hawaii, Massachusetts, Nevada, North Dakota, Vermont, Wisconsin.
Not Available - Hawaii, Massachusetts, Nevada, North Dakota, Vermont, Wisconsin.
Customer Support
OpenRoad Lending does not offer customer support after a loan is funded. Borrowers must seek service for their account directly from the lender who made the loan. However, OpenRoad Lending does have a toll-free phone number for inbound callers seeking sales support and needing questions answered before applying.
Phone Support
(888) 536-3024
Mon-Fri
8am-7pm CST
Sat-Sun
Closed
Email Support
LoanHelp@OpenRoadLending....
Social Media
In Conclusion
OpenRoad Lending is a reputable company with an A+ rating from the Better Business Bureau (BBB). It provides quotes from different lenders within minutes of when someone submits an application. OpenRoad Lending does not fund or service the loans; they strictly match prospective borrowers and lenders.
FAQ
With OpenRoad Lending, there’s no obligation to apply, no hidden costs, and no application fees. You have the flexibility to apply with us and, upon approval, receive a free, no-obligation quote so you can choose the auto loan that is right for you.
You will be able to download your refinance loan package. Your loan package will include specific instructions to complete the refinancing process. Requirements will vary by customer, but generally, you will need to sign a Loan and Security Agreement, give us information about the current loan you are refinancing and provide proof of your current income.
A soft credit pull is done when you apply with us, meaning your credit will not be affected. The lender providing you with the loan may do a hard credit check, which can have a negative impact on your credit score.
Disclosure
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Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.
9.0
LS SCORE
8.1
CREDIBILITY
8.1
SUPPORT
9.0
ACCESSIBILITY
Opening Hours
Mon-Fri
8am-7pm CST
Sat-Sun
Closed
Email Support
LoanHelp@OpenRoadLending.co...
Social Media
Live Chat
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