Your Questions Answered
We're here to get you on the road to success!
Getting Started
Our Process
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Does On the Road Lending refinance cars?
We typically consider refinancing vehicles that are three to five years old with less than 70,000 miles. When evaluating refinancing options, we assess how much is owed on the vehicle compared to its current value. The finance amount is typically determined based on what is available after all expenses. If you have a high-interest loan and your loan amount is close to the value of your vehicle, refinancing may be a good option. However, if you owe significantly more than your vehicle's trade-in value (commonly known as negative equity or being "upside down" on the loan), trading it in can be costly, and it's important to carefully consider all your options.
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How does character-based lending work?
We realize that your credit history only tells part of your story. Unexpected life events, health issues and other problems can hurt your credit score. That's why we consider other factors to determine whether or not you are a fit for our lending services. We want to know who you are and what you're working hard to become.
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Are there fees associated with the lending services?
There is no application fee, but there are fees associated with required GPS tracking. We also require you to secure gap insurance and a warranty.
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How does On The Road Lending keep my interest rate low?
On the Road Lending is able to keep interest rates low thanks to the generous support of socially responsible investors and financial institutions. People in our community invest in our loan fund to create a positive social impact, accepting a lower return on their investment to help others achieve financial stability. Additionally, banks provide us with special social impact interest rates, and our nonprofit partner, OTR Resources, secures grants and loans from banks and investors to further support our mission. This collaborative approach allows us to offer affordable financing and help more people access reliable transportation.
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How does On The Road Lending help me get a car loan?
On the Road Lending helps you get a car loan by using our staff's expertise to guide you through the car selection process. We research and assist you in selecting a car with good value from a reliable, local dealer who supports our program. Our team ensures the vehicles are reliable, fuel-efficient, and under warranty, helping you make an informed choice for your needs and budget.
For Applicants
The most important thing is to find the right vehicle for your needs based on family size, lifestyle and budget. We make sure you don’t get into a vehicle that you can’t afford. View this list to see the types of vehicles our clients typically purchase.
Take this checklist with you when you test drive a car.
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