Is New Roads Auto Loans the right fit for you?
Auto Loans
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Last Updated: 04/18/2025
SuperMoney User Recommendation Score +43
Mostly recommended7 total votes
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Highlights
Community Rating
Mostly recommended
Amount Range
N/A
APR (Fixed APR)
Up to 26%(Verified 06/21/2024)
Credit Score Range
300 - 850
Loan Term (Months)
N/A
Number of Reviews
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 loan are available in 21 states.
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 penalty fee of up to $50
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, New Roads Auto Loans 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 or other government photo ID
Does Consumer Portfolio Services Inc. perform a hard credit pull?
Yes, New Roads auto loan performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is Consumer Portfolio Services Inc. a legit company?
Consumer Portfolio Services Inc. was founded in 1991, it is a well-established company that has been in business for 35 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from New Roads auto loan
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.
Auto Loan Refinancing
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Availability
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
SuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +43, or 3.9 on a 5-point rating scale.
+43
-1000+100
No one recommends
Everyone recommends
Reviewer Sentiment Over Time
New Roads Auto Loans Community Reviews
Would you recommend New Roads Auto Loans to your friends?
JB
Jimmy B.
Jun 24, 2023
May or may not recommend
My experience with the company has been absolutely great. Lisa Peterson has been excellent help in this whole process and the employees as well. This is a company that I am sure that I will let many friends and family know about.
Debra M.
Mar 30, 2023
May or may not recommend
My first time buying a car was superb wanna than Jenny Barandas for working with me being patient explained everything to me and got me approved and now I am excited to be able to build some credit I would highly recommend you guys to everyone.
SP
Shatarra P.
Oct 18, 2022
May or may not recommend
Lori Heaton was the knowledgeable person to work with. She was very patient I didnt feel pressured to make a decision, and most importantly she was very professional. Lori went above and beyond to secure the desired car and ensure quality. It was a pleasure working with her and she definitely cares about the customer.
Thanks Lori for everything
Xiomara S.
Aug 5, 2022
May or may not recommend
I worked with Nathan G he is very knowledgeable and resourceful he help me in every step of the way and guide me to the right direction he was able to answer all my questions in a very short period of time. The application process it’s very simple and on point. I am very satisfy with the company and Nathan for providing me with excellent customer service. I will definitely ...Show More
GD
Gail D.
Jun 30, 2022
May or may not recommend
I just want to say New Roads has a terrific employee that help us get funded for our vehicle. Once we found a vehicle under their guidelines it was smooth sailing afterwards.
JW
John W.
Mar 24, 2022
May or may not recommend
Got to the finish and they tell me they do not give self-employed people loans. What a crock!
DH
Dudly H.
Mar 10, 2022
May or may not recommend
I was approved for a loan in December 2021. I did have trouble finding a truck under their guide lines. So I went over the 30 days they give you to find one. I wasn’t told about that in the beginning. I assume it usually doesn’t take that long. Anyway I had to reapply. So I did I sent the exact same thing i did in December. But this time ...Show More
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