If you’re struggling to get approved for a “bad credit car loan” or just below the mark for easy 2011 car financing, you might just get what you need with a new auto loan service that is expanding aggressively throughout the U.S.
A program called RoadLoans.com is ramping up in a wide variety of U.S. communities, offering a chance to get guaranteed financing and avoid the kinds of trouble associated with a bad credit car loan. Even those consumers who have a decent credit score from 660-700 can sometimes get lumped in with decisively lower ranking 600-660 crowd, and from the concretely poor in credit to those just on the margins of a successful deal, credit wrangling at the dealership can sink many a car financing agreement. Now, RoadLoans.com is helping to connect worthy borrowers with dealerships.
The RoadLoans.com system combines the ease and convenience of online shopping with the critically important data handling required for sealing car financing deals. New car buyers, or those looking for a pre-owned ride, can fill out a form on the site. There’s even a YouTube channel for dealing with questions. Roadloans.com estimates over 100,000 customers use the site each month. This much volume means big dividends for participating dealerships. This “matchmaking” service is something that creates value by turning previously rejected car loan applicants into approved car buyers.
The Roadloans.com project, an initiative of Santander Consumer USA, is a branch of Banco Santander, a major Spanish banker, that has seen the lucrative potential in cutting through the kinds of red tape that plague car financing when individual borrowers show up at the dealer’s lot. Some experts call it “price inefficiency,” or more accurately, “credit inefficiency,” where small lenders may have the wrong idea about what constitutes a bad credit car loan. Assets, proof of income or other positives can turn a red light green for 2011 car financing – in fact, Roadloans.com isn’t the only way to turn rejection into approval. Often, the deal just needs a fresh set of eyes, and prospective car buyers who turn to third party lenders can often get this kind of guaranteed financing through shopping around. Roadloans.com just makes this process that much easier for those who want to file their requests for a car loan early and skip the horse trading that happens at the dealer’s desk.