OpenRoad Lending

in Auto Loan Refinancing from OpenRoad Lending

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OpenRoad Lending


in Auto Loan Refinancing from OpenRoad Lending

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Community Rating Strongly recommended
Credit Score Range 550 - 850
APR (Fixed APR) 1.9% - 24.9%
Loan Term (Months) 36 - 84
Loan Amount $10,000 - $100,000

OpenRoad Lending Review

OpenRoad Lending is an auto loan refinance offering by OpenRoad Lending, a lending platform based in Fort Worth, TX. Founded in 2009, OpenRoad Lending offers auto refinance loans in 41 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?

OpenRoad Lending offers a fixed APR auto loan refinancing product that ranges from 1.9% APR up to 24.9% APR.

What is the maximum loan term you can get with OpenRoad Lending?

OpenRoad Lending offers auto refinancing with terms ranging from 36 to 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto refinancing loan, the more interest you will pay.

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
  • Proof of income

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 7 to 10 days of approval.

Does OpenRoad Lending report loan payments to credit bureaus?

OpenRoad Lending may report credit data to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion
OPENROAD LENDING Disclosure: "Advertised rates depend on the individual’s credit and key financing characteristics, including but not limited to the Amount Financed, term, a loan-to-value (LTV) ratio of less than or equal to 80%, and other vehicle characteristics."
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  • Headquarters
  •   5555 N Beach St Ste 4100
    Fort Worth, TX 76137 USA
  •   Visit Site

About OpenRoad Lending


Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 41 states and Washington, D.C.
  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Missouri
  • Nebraska
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wyoming

Feature Breakdown

No Origination Fee  
Application Fee $0
Origination Fee 0%
Minimum Age 24
Credit Score Range 550 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income $1,500
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Maximum Vehicle Age 8
Maximum Mileage 100,000
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Individual Applications
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
Loan Amount $10K - $100K
Loan Term (Months) 36 - 84
APR (Fixed APR) 1.9% - 24.9%

OpenRoad Lending Community Reviews


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