A complete guide with new and used car loans

Learn about your financing options and ask for pre-approval

Buying a car is one of the special moments in life. The festival dance says it all. And for many buyers, it’s the spark that gives the green light to a new or used car loan.

There are two main ways to find this financing: indirect lenders such as car dealers and direct lenders such as, where qualified buyers can get pre-approved before purchasing a vehicle.

Pre-approving new and used auto loans have great benefits and are recommended by the Financial Consumer Protection Agency (CFPB), a federal agency that protects the interests of consumers. If you buy before pre-approval, you can save time, money and effort and reduce stress at the dealership.

With pre-approval, you’ll compare costs while not the time pressure you may have once you are at the business concern. So in this way, you’ll focus a lot of attention on things like your business or your automatic choice at the merchandiser.

As an online lender, simplifies the process of financing new and used cars. On our short and secure app page, you can request pre-approval in minutes and get an immediate decision.

Run the numbers

Before you dive in, you can use our auto finance calculator to see how things connect. Our budget calculator helps consumers understand where paying for a car fits into their finances. Auto loan and affordability calculators are tools that help you estimate what you can spend overall on a new or used car and as a monthly payment.

Check your credit reports

Also, check your credit reports before submitting your request. Creditworthiness, which is an indicator of your creditworthiness, is based in part on the credit history contained in your credit reports. A credit score is an important, if not the only, factor in the decision-making process of an auto lender. “In general, a higher score facilitates eligibility for a loan and can lead to a better interest rate.

What if you have bad credit?

You can always apply for a car loan from if you have bad credit. We accept requests from consumers with all credit profiles, including those with no credit history who have gone bankrupt. Our application process also allows you to apply with a co-signer. A creditworthy borrower can help you qualify for a loan and, if approved, improve the interest rate.

However, if your creditworthiness is poor, you need to realistically assess your expectations. You may be looking for financing for a used car instead of a new one and, with approval, get a higher car loan rate than someone with a better credit rating.

Interest on new and used auto loans

At, we offer qualified buyers competitive loan rates for new and used cars. As part of our flexible financing approach, we create several offers for approved applicants that are tailored to their individual needs when purchasing a car.

Buy a car with Road Loans

We want the financing of new and used cars to go as smoothly as possible. As a direct online consumer lender, our process is fast, efficient and offers many benefits.

You can apply for car loans at home, work or from your mobile device in minutes and get an instant decision.

We accept car loan applications to purchase a car from a dealership.

Qualified buyers receive pre-approval and know exactly the conditions under which they can buy a new or used vehicle before buying.

If approved, download, print, verify details and take loan documents to a preferred Road Loans dealer recommended during the application process. Permits are valid for 30 days and there is no obligation to activate the loan offer.

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