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Where does OpenRoad Lending do business?
OpenRoad Lending is based in Fort Worth, TX. It was founded in 1993 and offers auto refinance loans in 50 states (and Washington, DC).
How much can you borrow via OpenRoad Lending?
Auto refinance loan amounts start at $10,000 and go up to $100,000.
What are the auto loan refinancing rates offered through OpenRoad Lending?
APRs for auto refinance loans through OpenRoad Lending range from 1.9% to 21.9%.
Does OpenRoad Lending charge an origination fee on auto refinance loans?
No, OpenRoad Lending does not charge a loan origination fee for refinancing an auto loan.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount.
Does OpenRoad Lending charge a late fee?
Yes, auto refinance loans via OpenRoad Lending are subject to late payment penalty fees.
Does OpenRoad Lending charge prepayment fees?
Yes, OpenRoad Lending does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment feees can reduce or even cancel the interest savings of repaying a loan early.
What are the key eligibility criteria for OpenRoad Lending auto loan refinancing?
Applicants with a credit score of at least 550 can apply for a loan via OpenRoad Lending. The minimum age to apply for a loan is 24 or the state minimum, whichever is higher.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Recent pay stubs
What is the estimated funding time for an auto loan refinance with OpenRoad Lending?
Auto refinance loan applications are typically approved (or denied) within 24 hours and funded within 1 to 7 days of approval
Does OpenRoad Lending report loan payments to credit bureaus?
OpenRoad Lending reports payment behavior to one or more of the following credit reporting agencies:
5555 N Beach St Ste 4100
Fort Worth, TX 76137 USA
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