Discussion in 'Credit Talk' started by jen53, Dec 27, 2002.

  1. jen53

    jen53 New Member

    I recently received a discharge on a Chapter 7 BK and need a new car. I saw an ad for a company called Roadloans that offers auto loans thru the internet. They say they work with people with bad credit or bankruptcy.

    Has anyone heard of or received a auto loan from Roadloans? Their website says they are a subsidiary of Triad Financial Corp which is a subsidiary of Ford Motor Credit. I was just wondering if anyone had any feedback on them. I just did an online application and am waiting to hear back from them.
  2. nodownking

    nodownking New Member

    Go to the dealer remember if they cant get you bought then they cant sell a car.

    DOITMYSELF New Member

    see the thread
  4. Butch

    Butch New Member

    Makes perfect sense to me.

  5. Stunning

    Stunning New Member

    Great advice, Polarisa3! I can personally testify that I have so much more negotiating power when I walk into a dealership with my financing already approved, and check in hand. I have found that it is also VERY helpful to know the amonut of the loan you are approved of BEFORE you pick out the car, as it assists you in making a determination on exactly what you can afford. I have had car dealers go down a lot on the cost of a car once they see that I have a say, $28,000 check in my hand, and I want the car, taxes, and whatever else NOT TO EXCEED the $28,000. They know it will be easy for me to walk out and take my business elsewhere. It also eliminates all the "finance games". I would not buy a car any other way. :)

  6. sam

    sam New Member

    they sucked on the offer. i could charge a car for less than they offered me and i have the limits to do so.
  7. Stunning

    Stunning New Member

    Hi Sam.

    I think you are referring to RoadLoans, right? If so, I did not specify which finance institution one goes through, (of course one would need to find the best offer out there for their credit and financial situation). I just wanted to share some thoughts on pre-approval. I have not used Roadloans, but I have a friend who has, and they offered pretty good rates. I have also heard one person mention that the offer RoadLoans gave him was not good at all.

    Hmmm, I never thought about purchasing a car on a credit card... :)

    By the way, Jen53, I realize this is an older post, but could you share your experience with RoadLoans?
    Just curious. Thanks!

  8. SoParkDiva

    SoParkDiva New Member

    Re: Re: Roadloans

    I plan to put the last 6 months of my car payments on my AMEX card soon :) Easy way to accumulate some bonus airline miles.
  9. gmaof1

    gmaof1 New Member

    Re: Re: Roadloans

    I applied for this same thing - ONE TIME - about 2 months ago. They pulled all 3 credit reports twice over a 3 day period and now are giving me flack about combining them or taking them off. If I have that many problems BEFORE getting financed, why would I want to deal with them?
  10. Stunning

    Stunning New Member

    SoParkDiva-- that is a great idea! Thanks!

    gmaof1-- I agree. I'm sorry to hear that.
  11. jen53

    jen53 New Member

    The first time I applied with Roadloans, I was turned down because my bankruptcy was too recent. They sent me an e-mail a few weeks ago telling me to re-apply. So, I did and was turned down again. This time the reason was "insufficient credit".
  12. rhondak

    rhondak New Member

    I got that "insufficient credit" one too.
  13. sam

    sam New Member

    its waste of time. I can walk into my credit union and get up to 9999$ ploc @ 5.8% for whatever i want (car boat clothes, butt).

    or i can finance a car the normal way, but the offer roadloans gave me sucked butt.

    They even had the nerve to fedex me the offer after i said no.

    what a waste.
  14. Hope Alvar

    Hope Alvar New Member

    Road Loans

    I purchased a car using Road Loans and had a great experience. They were able to assist me after filing bankruptcy also. They sent the check directly to the dealer, it did take longer than going to the dealer and using their financing but i was in the car in a week. It was not a scam. I was able to refinance my vehicle after making payments for a year


  15. RUGER

    RUGER New Member

    what diff. does all this make,6 mos. from now we will ALL be under water due to a major depression.
  16. Hedwig

    Hedwig New Member

    And why bump a six-year old post?

    I don't think we'll be in a major depression, nor will we ALL be upside down (after all, all four of my vehicles are completely paid for).
  17. randomryan

    randomryan New Member

    I went through a bankruptcy back in '05 and have two past repossessions on my credit. I thought no one was going to approve me for an auto loan after that. However, I was pleasantly surprised when I applied for a loan at and found out that I was approved and with a better rate on my loan than the loans I had before the bankruptcy.

    The process was easy and they even helped me find a dealership who worked with their approval. I didn't have to put anything down, which was also nice. So far I've had a car loan with them for over a year now and couldn't be happier with the service I've received.

    They may not be able to approve everyone, but no finance company really can. They approved me though and I thought that was a miracle!
  18. Bndpdler

    Bndpdler New Member

    I had them for about 3 years.They sold to a campany called Santander. My credit was borderline when I got the loan.They are just a BIG pain in the ass.They call every month 2 - 3 days BEFORE the payment is due and their autodialers call 3-4 times per day on ALL the phone #'s you give them. I was late 1 week once and told them , sorry cant pay until the 30th.They said fine we will be repossesing in the morning and auctioning car by next week. Jerks to work with but I guess if u do auto-pay no problems.
  19. Logan Abbott

    Logan Abbott New Member

    Old post, but if any users stumble upon this one looking for bad credit auto financing, here's another option some users have told us about that they've had a good experience with: Auto Credit Express Auto Loan

    I haven't used them personally, but it may be another worthwhile avenue to consider if you're having trouble getting approved for an auto loan.

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