New Roads Auto Loans

New Roads Auto Loans

in Auto Loans from Consumer Portfolio Services Inc.


New Roads Auto Loans


in Auto Loans from Consumer Portfolio Services Inc.

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Credit Score Range 300 - 850
Loan Amount N/A
APR  (Fixed APR) Up to 26%
Loan Term (Months) N/A

New Roads Auto Loans Review

New Roads Auto Loans is offered by Consumer Portfolio Services Inc., a direct lender founded in 1991 and based in Irvine, CA. New Roads Auto Loans is available in 21 states across the USA.

New Roads auto loan FAQ

What APR does New Roads auto loan offer on its car loans?

New Roads auto loan offers a fixed apr car loan product up to 26% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

Does New Roads auto loan charge an origination fee?

Yes, New Roads auto loan may charge a loan origination fee.

Does New Roads auto loan charge a late fee?

Yes, New Roads auto loan charges borrowers with a late payment penatly fee of up to $50, which is triggered if you're 15 days late.

Does New Roads auto loan charge prepayment fees?

Yes, New Roads auto loan does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my New Roads auto loan loan?

Yes, you can. However, New Roads auto loan charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for New Roads Auto Loans?

When it comes to credit scores, Consumer Portfolio Services Inc. doesn't have a set minimum or maximum. People with all types of credit scores can apply.

New Roads Auto Loans does not have or does not disclose a minimum annual income eligibility requirement.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Driver's license
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Message From New Roads Auto Loans

When you finance a vehicle, the financial institution you are affiliated with lends you money as an installment loan. The automobile lenders earn income through charging you interest on the auto loan and for any processing fees associated with the loan. The vehicle itself acts as a kind of collateral for the finance company, giving them the authority to repossess the car if payments are not made in a timely manner. Financial institutions will lend to the consumer a secured auto loan. Secured loans are secure because they are backed by some form of collateral, such as a car. This means that if you fail to make your monthly payment for the loan term, the financial institution can repossess the car and sell it.

Message From Our Editor

What We Love About New Roads Auto Loans

New Roads Auto Loans has a good reputation for providing car buying options for subprime buyers. Many customers express that they are grateful the company helps them buy a car when others won’t work with them because of their low credit. 

The company also offers several incentives based on how and where you buy your car. These include a reduction in interest points, for example, if you buy a car from a certain dealership.

What Could New Roads Auto Loans Do Better?

One of the main drawbacks with New Roads, as with any subprime loan, is the high-interest rate. As a customer, be sure to shop around and examine all of your options before you make the decision to borrow money. Otherwise, you could get stuck paying too much for your loan. 

New Roads Auto Loans’ Background

New Roads Auto Loans is a part of Consumer Portfolio Services. 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 car dealers nationwide. 

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 even those with poor credit should be able to access financing.

The Verdict

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. 


Other Services by Consumer Portfolio Services Inc.


  Available in 21 states
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • New Jersey
  • New Mexico
  • South Carolina
  • Texas
  • Washington

Feature Breakdown

Late Fee Amount $50
Late Fee Grace Period 15 days
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Driver License (or other photo ID)
Credit Score Range 300 - 850
APR (Fixed APR) Up to 26%

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