Ever since its creation back in 2009, OpenRoad Lending has been helping people take auto loan refinancing and therefore save more than $100 per month. Throughout its activity, this company has won awards and has been recognized by the most important publications in the industry. OpenRoad Lending is headquartered in Dallas Forth Worth and is available in the entire country apart from ten states. It is not a direct lender itself but acts as the middle man between clients and direct lenders.

OpenRoad Lending at a Glance

Editorial Score 4.4

Online Experience 3.5

It has a simplistic but informative website.

Loan Types 4.5

Most auto loan types are available.

Eligibility 4.5

No clear minimum credit score required is stated (usually it’s over 500).

Client Support 5

There are multiple ways to contact the lender.

Repayment Flexibility 4.5

It provides flexible repayment terms.

Who is it suitable for?

OpenRoad Lending is meant for people who wish to get refinancing on their auto loan and who have a decent credit score of at least 500. Also, this company is aimed at people with a minimum monthly income of at least $1,500 who want to be able to save some money on a monthly basis. Last but not least, this is a type of platform that will be suitable for people with a car that is newer than eight years and has less than 140,000 miles and who are not bothered if they don’t work directly with a lender.

Features

One of the most important features that OpenRoad Lending has is the ability to tell you exactly what kinds of auto loans might be good for you within minutes of your online application.  Waiting time is almost non-existent with them which is a very good thing. The company also offers free credit repair and credit score consultations to its clients so they know exactly where they stand.

You will not have to pay a fee if you submit your loan application directly on the website. Besides this, the official website also contains some useful calculators. Plus, it has numerous informational resources on auto loan refinancing in general, a referral program, and a comprehensive FAQ page.

Application Process

The entire auto loan refinancing application procedure is very easy to complete on the official OpenRoad Lending website. Remember that you will not be required to pay a dime for this. Here is how the process goes:

·         Access the official website of the lender and go to the “Apply” tab:

·         Fill out the application form and make sure that you complete all the required fields with correct information;

·         In case you have a co-borrower, you will need to enter their details too;

·         Send the form and, within minutes, you will have your decision;

·         In case you are accepted, you will also receive a pre-qualified offer for a loan;

·         The next step is to provide all the necessary documentation (by mail or fax);

·         If all is right, your lender will be paid off within a few days by OpenRoad Lending;

·         You will receive a welcome letter telling you about the beginning of your refinancing;

·         A company representative might also contact you at any point during the process to offer guidance.

Loan Types and Terms

Apart from acting as the middle man for auto loan refinancing, OpenRoad Lending can also help you find car loans. Usually, the terms for these loans vary between 36 and 84 months. In some states, the minimum required loan amount is $7,500 but it can get as high as $100,000 in others.

Besides this, the company offers Guaranteed Asset Protection in case of a total loss of your vehicle. If your insurance is below your owed loan amount, then this GAP coverage will take care of the rest. It also offers an extended service contract which will cover maintenance car costs even after the expiration of the warranty.

How Safe Is It?

OpenRoad Lending has an A+ rating from the Better Business Bureau and an excellent rating of 4.6 stars on TrustPilot. Apart from these important distinctions, the company assures its clients that it uses the most advanced security protocols in order to always keep their data safe. It employs industry-required security measures and it never sells your data to third parties.

Help & Support

In case you want to get in contact with the company, there are six different e-mail addresses that you can use to write to OpenRoad Lending, depending on your particular inquiry. You can find them all under the “Contact Us” section of the website. Another possibility is to call at (888) 536-3024 (which is a toll-free number) Monday to Friday from 8 AM to 7 PM CST or to send the company fax at (866) 228-8446. Last but not least, you can connect by becoming a fan of its Facebook page and staying updated at all times.

Summary

To wrap it all up, it’s clear that OpenRoad Lending is a professional and trustworthy company that does everything it can to provide the best auto loan refinancing options for all its clients. It adapts their needs and preferences to the offers on the market and only selects those that could end up saving money for their clients and being beneficial overall.

Its online reputation is very good and its services are varied enough for a lot of clients to become interested. Plus, the application process is easy and free, the repayment terms are varied, and its special features set it apart from a lot of its competitors. So, in case you are on the hunt for a good option to find a good auto refinancing loan, OpenRoad Lending should definitely be up there on your list.

Physical Address

5555 N. Beach St. Ste. 4100 Fort Worth, TX. 76137