time icon 6 min read update icon Sept. 20, 2019
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RoadLoans casts a wide net when soliciting for auto loan requests, and provides nearly instant decisions for customers who need a new or used ride.

RoadLoans strikes an ideal balance between hassle-free loan shopping and the backing of a big-name bank. Santander is the financial institution behind this site, which offers instant decisions on auto loan approvals alongside a trusted network of dealers that specialize in low-mileage, reliable vehicles. RoadLoans is stipulation heavy, however, so consumers are encouraged to perform their due diligence before getting their hopes up on that new set of wheels.

Grandfolk Scoring
Cost 10/10
Ease 7/10
Cancellation 8/10
Customer support 8/10
Loan amounts 5/10
Funding time 9/10
Credit score 9/10
Penalties 9/10
Payment options 9/10
Limits to coverage 5/10
Restrictions 5/10
Loan origination fee 4/10
What is the monthly fee?
This depends on your loan amount
Are loans easy to obtain?
Yes, for tech-savvy seniors
What if I’m not satisfied?
Loans must be paid back in full
Customer support
How do I reach out to the company?
By phone7 AM-11 PM CST Mon-Thurs, 7 AM-9 PM Fri, 7 AM-5 PM Sat, or by email
Loan amounts
What are the maximum and minimum loans offered?
Minimum is $5,000 in most states, maximum is $75,000
Funding time
How long will it take to get the loan?
Offers are made within minutes; can take 24 to 48 hours
Credit score
Will the approval process ruin my credit?
No, and offers are good for 30 days
Are there fees for early payoffs?
No; early payoff is strongly encouraged
Payment options
How can I pay back my loan and interest?
MyAccount via Santander, phone, mail, money order, or Auto Pay
Limits to coverage
What services are excluded?
No commercial vehicle loans, no loans for RVs, trailers or motorcycles
Cost or difficulty to upgrade?
Refinancing is heavily restricted
Loan origination fee
Is there a financing fee?
Yes, the loan acquisition fee varies, so be sure to check details
Age Score:
50-64 Years
65-74 Years
75-84 Years

Like similar online auto loan financing and refinancing sites, RoadLoans does not specialize in any single customer segment. The site does tout its instant loan decision process as well as its focus on credit challenged applicants, who may be facing bankruptcy or other life challenges. That said, retirees and seniors are strongly encouraged to use the online calculators in order to determine their ability to pay back a loan, as well as the possible loan acquisition fees and interest costs around the overall transaction. 

All consumers should be reminded that RoadLoansis backed by the Spanish financial institution, Santander. This subsidiary is recovering from a bad public relations issue concerning the wrongful repossession of service member vehicles from 2008 through 2013. The settlement has not impacted the consumer reviews of the company, but one would do best to keep his or her eyes wide open when considering whether to apply for an auto financing or refinancing with RoadLoans.

Ultimately, using RoadLoans requires some technical skill, but with six easy repayment methods, it comes pretty darn close to being a one-stop shop for a driver in need of a new or used car.

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As an online auto financing and refinancing institution, is great for the credit challenged, or those who might feel uncomfortable going the more traditional route of being judged and possibly denied an auto loan at a bank. The loan offers are good for 30 days, which gives family and friends time to help the senior or retiree through the decision-making process. 

That said, the loan application process is quick and stress-free. The site even goes so far as to offer loan repayment calculators, negotiation tips, vehicle research options and a recommended network of dealers with reliable and low-mileage vehicles. Finally, while the site is a close one-stop shop for those seeking a quick loan, there are still a number of potential issues for those who fail to read the fine print, such as high loan acquisition fees and limits on car types and loan amounts.


  • Customers get instant notification on auto loan offers for new and used vehicles, as well as refinancing options in select states.
  • Clients have access to a vast network of trusted dealers who sell low-mileage and reliable cars.
  • Loan offers are extended to the credit challenged, as well as those facing bankruptcy.
  • Customers have six easy payment options, ranging from money orders to traditional bank transfers.
  • The website offers an easy three-step process that includes requesting the loan, accepting a loan and finding the best vehicle based on your needs.


  • Loan offers explicitly exclude commercial vehicles, RVs, trailers and motorcycles.
  • Cash-back refinancing is not available for residents of Arkansas, Alaska, Connecticut, the District of Columbia, Hawaii, Kansas, Kentucky, Massachusetts, Mississippi, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Nevada, Pennsylvania and Virginia. 
  • Vehicles purchased from individuals must be fewer than 12 years of age with no more than 100,000 miles.
  • The potential for hidden or unexpected loan acquisition fees is considerable, so market research is strongly encouraged.

Bottom Line:

While RoadLoans does not have options specifically tailored for seniors, the site is a great one-stop shopping option for those looking for instant notifications as to whether they are able to apply for a new or used car loan. The digital aspects of the process can even be taken offline, as the subsidiary is backed by one of Spain’s largest financial institutions (Santander). RoadLoans offers six different repayment options, including bank to bank transfers. 

The website and company are not without their quirks, however, and come with a vast number of terms and conditions for those seeking refinancing. Cumulatively, RoadLoans is a great site to get someone with challenged credit back out on the road fast, but be careful, as the loan acquisition fees and interest rates might make the requestor think twice before accepting the loan offer at face value

Frequently Asked Questions:

What is required to obtain a loan request? 

Like most online loan companies, RoadLoans requires applicants provide their Social Security Number, proof of insurance and a valid driver’s license.

How long until I know whether I am eligible for a loan?  

Seconds! RoadLoans offers nearly instant notification, with eligibility requests very rarely exceeding 24 to 48 hours.   

How do I make payments?  

RoadLoansoffers six convenient payment options, including online payments, auto pay via ACH, phone, mail, MoneyGram and Western Union.

More Information:

Product Details

Overview: RoadLoans specializes in new and used auto loans and refinancing. The company offers nearly instant loan decisions that can take place within seconds, with a turnaround time of no more than 48 hours. RoadLoansoffers competitive rates for qualified buyers even if the buyer is credit challenged. Ultimately, the company is unable to guarantee that a loan request will result in a loan offer. It also cannot guarantee whether the offer will fall within the parameters of what the customer is willing to pay back, and for how long. 

Package Details:The RoadLoansapplication process includes free monthly car payment estimates, calculators, help with auto loan rates, shopper empowerment in the event customers want to find a private dealer outside of the recommended network of trusted representatives, and advice on new, used, private party, bad credit, no credit and online loans.

Add-on Services: RoadLoans not only offers nearly instant approvals on loans but also a vast suite of shopping and car locator tools, including iPhone apps, Android apps, finance calculators and a vast network of dealers that offer only low mileage, reliable and fairly-priced vehicles.

Additional Company Details

Contract Details: Contracts made through RoadLoansare ineligible for refinancing, as are those made with Chrysler Capital. Additional refinancing restrictions are also applicable when vehicles are greater than seven years old or have more than 105,000 miles. Applicants are also beholden to certain ineligibilities around residency status and the type of vehicle under review. Customers are strongly encouraged to read all of the fine print to avoid an unpleasant contractual obligation.

Warranty: While RoadLoans encourages all individuals to apply for a loan regardless of their present credit situation, there is no guarantee that the consumer will get a loan offer. RoadLoans is careful to remind all customers that credit scores are not the lone (no pun intended, of course) factor when making lending decisions, but those other circumstances, such as bankruptcy proceedings, may be of issue as well.

Accreditations: Santander Consumer USA, Inc. is not accredited by the Better Business Bureau, but maintains an A rating. This is despite having been embroiled in the illegal car repossession scandal of military members serving overseas, which took place between 2008 and 2013. The parent company has since settled the suit and continues to rebuild its reputation in the U.S. as well as abroad.

Company Details: RoadLoansis the online automobile lending division of Spanish banking corporation, Santander. The company began life under the Ford Motor Credit Co. It was sold five years later in 2005 to an investment group, where it continued to offer new and used car loans alongside auto refinancing. Its latest acquisition by Santander was finalized in 2009.


Santander Consumer USA Inc.
P.O. Box 961245
Fort Worth, TX 76161
Tel: 888-276-7202

Kate Papenberg - Senior Advisor

Kate is senior researcher with Grandfolk® providing in-depth product and service reviews to empower senior buying decisions.