SuperMoney

OpenRoad Lending

in Auto Loan Refinancing

Claimed Visit Site Find My Best Rate

OpenRoad Lending

Claimed

in Auto Loan Refinancing

SuperMoney Net Recommendation Score +50% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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1 user doesn't recommend
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Overview

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 may report payment behavior to one or more of 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."
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  • 5555 N Beach St Ste 4100
    Fort Worth, TX 76137 USA
  • Visit Site

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
Application Fee
$0
Minimum Age
24
Supported Income Types
  • 1099 Misc. Income
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Maximum Mileage
150,000
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Joint Loan Applications Accepted
  • Only Individual Applications
Maximum Vehicle Age
7
Credit Score Range
550 - 850
850 300 550
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Minimum Annual Income
$2,000
Verification Documents Required
  • Recent Pay Stubs
  • Driver License (or other photo ID)
Loan Amount
$10K - $100K
$2.5K $100K
APR
1.9% - 21.9%
2% 36%

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