Companies, Products, and Services

New Roads Auto Loans: In-Depth Review (Updated 2021)

Consumer Portfolio Services Inc. (CPS) is a specialty finance company that provides indirect financing for people with credit difficulties who are purchasing vehicles. The company works with 8,600 dealers nationwide and has bought over $18 billion in loans from them since 1991. New Roads Auto Loans is a part of Consumer Portfolio Services.

New Roads Auto Loan is the direct-to-consumer division of CPS, and it also specializes in providing financing to “good people with credit problems.” The company believes that a late model car or truck is a necessity for modern life, and even those with poor credit should be able to access financing.

But can you trust New Roads? Here is an in-depth review of the company’s offerings to help you decide.

New Roads Auto Loans Overview

Loan types

You can use a New Roads auto loan for a vehicle purchase, vehicle loan refinance, end-of-term lease buyout, or company car purchase.

Down payment

If the car you want to purchase is under the maximum amount you are approved for, you do not have to put any money down.

Interest rates

The New Roads Auto Loans interest rate you get will depend on your personal situation (i.e., finances and credit report).

However, the company does offer several interest rate reducers, which include:

  • 1 point off if you buy from a Kia dealership, or if you buy a Genesis, Ford, Scion, Toyota, Kia, Jeep, Honda, Hyundai, Acura, GMC truck, or Ram 1500 (2012 or newer).
  • 2 points off for buying a new
  • 3 points off for buying a Certified Pre-Owned vehicle from a franchised dealer which meets the program guidelines of the manufacturer.

So, the car you decide to buy and where you buy it can impact how much interest you pay.


To be eligible, you need to be employed and must have proof of income (they’ll ask for a current pay stub). You may also need other documents depending on your situation. Additionally, you’ll have to live in a state where New Roads financing is available. Check New roads Auto Loan profile for more details on the states where financing is available.

Aside from those requirements, New Roads is known as one of the best bad credit auto loan companies. It will finance individuals who have poor credit, no credit, bankruptcies, tax liens, charge-offs, repossessions, and late payments on their records.

The company has been doing so since 1991 and is experienced in the practice. If you have had trouble getting approved by other auto loan lenders, this is a good company to try.


The New Roads website is secure and the company claims it doesn’t share consumer information with any third parties.

Customer service

New Roads offers a customer service phone line (1-888-920-6819), Facebook page, as well as a live chat option on its website. The live chat option is not always available. When it’s unavailable, they will provide a form to fill out and send in your questions.

New Roads online auto loans reviews

The company has a good reputation online. Many customers express that they are grateful the company helps when others won’t.

One review said she was able to get a car loan within 60 days of filing bankruptcy. Another said that the rate wasn’t great, but it was understandable because his credit was in bad shape and no one else would finance him.

Further, many say the customer service is excellent as the representatives show empathy and have great attention to detail.

New Roads Auto Loans: Application Process

The online application process is quick, secure, and easy. You can apply from your home computer or mobile device. If approved, you will often receive a loan package the following day, and then you can go shopping for a car like a cash buyer.

Here’s how to apply:

  1. Visit the New Roads website and click the red “Get Approved” button.Approval

  2. Select the loan product you are interested in and your state of residence. Select Product

  3. Provide your contact information.New Roads Auto Loans

  4. Share where you live. New Roads Auto Loans reviews

  5. Provide your income details.New Roads Auto Loans

  6. Read and agree to the Certification and Authorization Agreement and click “Get My Car Loan.”New Roads Auto Loans

After this step, New Roads loans will analyze your information, check your credit report, and says they will provide you with an answer within 30 seconds. A company representative will contact you shortly afterward to discuss the terms of the loan approval and the process for making the purchase.

Is New Roads Auto Loans legit?

Is New Roads Auto Loans worth considering? As a division of the large and experienced CPS, the company is no newbie to the bad credit vehicle financing niche. It has been doing so for over two decades and seems to have its system worked out. Customers are often very happy with the experience.

New Roads enables car ownership for many who wouldn’t otherwise be able to get it. With the flexible approval requirements and no down payment, the barriers to ownership are low.

Interest rates will still often be on the higher end, but that is to be expected with higher risk lending. If you have bad credit or no credit, it’s a good company to consider.

Learn more about New Roads Auto Loans today!

To find out what you can get from a variety of lenders without hurting your credit score, click here.