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Roadloans - Stay away from Road Loans, Deceptive practice

  • by   Jun 06, 2009
  • Review #: 149647
Company Roadloans
Product / Service Auto Finance
Location Birmingham, Alabama
Category Loans and Mortgages
Views 4473

Do not accept an approval from Road Loans.Gave an approval with a down payment went to pick up automobile and was told I needed a co-signer.

They pulled you in with the approval, thinking you are so desperate to purchase an automobile, you will find someone to co-sign with you. I think car dealerships should not send application into that company.

My loan was handled through carmax and I will never go there again and advise any one to think very hard and long about dealing with these companies.Save yourself the time and frustration.Run away. 2e756c1

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Sep 20, 2012 
..@Bway I supplied everything they asked for on the list and everything was verifiable but roadloans told me i would have 1,000 down payment and they wanted me to come up with 3,000....i dont think so
Reply to mad as hell

Sep 20, 2012 
i got approved for a loan by roadloans and have had nothing but pure ***...went to 3 different dealerships just to keep getting turned down....i thought the purpose of all the *** paperwork they have you print out was a for sure appoval......and yes drive/santander/and roadloans are all one money hungry company with high as interest rates,by the time you're done you could have paid for 2 cars!!! RUN
Reply to mad as hell

Mar 23, 2012 
I got a loan from roadloans and the approval process is easy just as long as everything is verifiable....Down side is that you may get a very high Interest rate and the keep you locked in by putting a cap on the any your payment has to be over 72months I'm paying 13000interest on a 19000 car now that's just high way robbery...I learned to research research....
Reply to 50% good 50% bad

Feb 06, 2012 
I put in an application on lending tree. They were the first to reply with approval. I got so many pre approval calls and emails. They sell your info to other company's so be careful from lending tree.Once they get your email you cant get them to stop spamming you.
After doing some research on them and reading all the bad things. Including fees and dealers putting the fee road loans charges them on top of the already high car prices did not think it was right. I applied with capital 1 here is the difference. road loans 24500 approval capital 1 21000 road loans 497 per month for 72 months capital 1 422 for 60 months. road loans total payments was 35k capital 1 25k. with no fees at all. I know its hard to get financing with bad credit and you have to do what you can. But its worth doing your homework
Reply to Dave

Dec 21, 2011 
I was approved and my loan is working out great had no problems actually they increased my limit when I called them as I was 1800 dollars short. I only paid the down they said I needed. Their service was great and actually going to go pick up another car this weekend.
Reply to Anonymous

Nov 05, 2011 
I actually have my car but don't even how this guys Roadloan got my information and went ahead and did credit search amazing they wanted me to have cry like they made my fellow citizens do.
Step by Step is their language the same was used to me over the phone conversation with them.
Reply to Lambat

Nov 05, 2011 
Reply to Lambat

Jul 13, 2011 
I just got approved for a 6.9% interest rate with Road Loans, but after reading that they have an "F" rating on the BBB and seeing all of these complaints.. I wont even consider them.
Reply to MH

Feb 14, 2013  from Chandler, Arizona
I just checked the link you provided. Their BBB rating is an A+. I'm not for or against this lender, however, I beleive information posted on this website should be accurate and true.
Reply to Anonymous

Jun 12, 2011 
I needed a new vehicle and I saw the commerical on TV so I went to the website. Everything looks as if they are there to help. I'm glad I like to research companies. I'll have a case of the *** if I did business with them and they were not on the up and up. I don't know what BBB report you was looking at but when I researched it and it's a "F".
Reply to it doesn't matter

Jun 04, 2011 
Reply to NONER

Jan 17, 2011 
Never had a problem use your brain and let the loan fund first. Also If you supplied everything on the pages they wanted and it all was verifiable you would have no issue.
Reply to Bway

Oct 12, 2010 
As for the coment about BBB. For anyones information, the BBB is a franchise not a government intitution. The company originally started by Al Capone as a way to get business to pay him money lgally. They pay the money, they write their own good report. Great Scam Huh?
Reply to info

Jul 15, 2013 
Al Capone was born in 1899 and the BBB started in 1912. Al Capone starting the BBB is an urban legend...one that has already been proven false...
Reply to NonyaBizness

Oct 04, 2010 
HAD CAR FOR MONTH then loan couldnt be processed by Roadloand (Santander)!! RUN from this company and fast I got screwed and hard.
Reply to doug peters

Sep 14, 2010 
Well I got the approval and even got the car. $600 down payment, $92.00 to register and plate it, $250 to start insurance and now they called me and said they were not gonna finance me. ARE YOU FRICKEN KIDDING. I hope there prepared to write me a check! DO NOT GO THRU THESE PEOPLE!!!!
Reply to J

Sep 05, 2010 
I applied last night through roadloans. Ok I get an approval. It then takes me to a page where I decide which one I want, so I clicked on the one with the lowest down payment which is $1,250. I am then taken to a page where I choose to add platinum extended warranty coverage onto the payment each month. After all of that a PDF comes up with all of the papers, and the voucher to take to the carmax in Lithia Springs Ga.
About 30 mins. later I went back to the roadloans site to see if I could by chance switch my preferred dealer. It then tells me that our loan application was denied, due to having No bankcard on file? WHAT? For one we have 3 major credit cards, and have had the same checking account for years. I am confused about this, and wonder if anyone else has had a similar issue with them? Do I waste my time with going to carmax tomorrow or not?
Reply to Priscilla

Jul 06, 2010 
The reason that the United States is financially in ruins is because of greedy dishonest people and companies like Road Loans and Carmax. What a joke.
Reply to So Fed Up !

Jun 15, 2010 
I sorry your buying experience went the way it did.. when they called me to state that I had an approval, I asked if I needed a co-signer, the rep. who was very nice stated no.. this was included in my voucher packet.. I choose the lot I wanted to deal with through them.. and was compelted with the paper work by 4:00 P.M... from takling to the CARMAX its up to them is veirfy all information or the lot won't get a check... first payment due next month... I choose to do month billing through my bank that will send out a cashiers check each month so that I have proof of payment.. you cant say its just roadloans, its any loan company period.. this happen to me when I bought my house everything was go then BOOM.. the bank sit it fell through.. thats just not roadloans that any finanace COMPANY!!
Reply to BIG RED

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