Roadloans reputable?

[terpfan]

I just got approved for a roadloans loan....

and before I do business with a creditor, I like to check them out on ripoffreport.com... I see alot of complaints about roadloans... those that have used them how have your experiences been? my credit is pretty good now & I don't want to screw it up (again) messing with a unscrupulous lender

[SinkingFast]

RoadLoans is backed by Triad Financial. The largest sub prime auto loan Lender in the Country.

http://www.triadfinancial.com/

We got a very good rate offer from RoadLoans. Better than CapOne offered. So we went with RoadLoans.

Their process was a bit more cumbersome than CapOne's was. We had to fax in references and a copy of a Statement from our Insurance Agent. Other than that, the deal worked smoothly.

They offered an extended warranty plan that was cheaper than the Dealer's price. We opted not to take that. We did tack on Gap Insurance. If the vehicle is totaled, Gap insurance picks up where our auto insurance leaves off and picks up the difference on the loan. In both cases, there was no hard sell. Just "Here's what we have to offer. Here's the price. Take it if you want. Don't take it if you don't want."

One thing that was different,............ After we made our deal with the Dealer, we went in one day, signed the papers, and left the check with the Dealer. The Dealer wanted to give it over night to be sure the check would process before they let us take the vehicle. Evidently, people write those blank checks for more than the amount they've been approved for.

You can make payments by mail, over the phone, via Western Union, internet, or set up for auto deduct. We haven't had any problems at all. BUT, we make our payments on time, every month. I noted at RipOff.com most of the people having trouble with RoadLoans were in arrears on their car payments.

If you choose to go with USPS, be sure to get your payment as soon as the statement arrives. Our statement usually arrives about 12-14 days before the due date. I've noticed it takes 7-10 days from the time I mail the payment for the debit to post on our bank acct. Usually more like 10 days. That's sending the payment via Priority Mail.

That would be my one and only complaint. That it takes so long to process payments made via USPS. After a couple months of that, I changed how I make our payments to same day Debit. Definitely do not want any "Lates" post BK!

[terpfan]

thanks for the info... roadloans gave me a better rate than capone also, I really wasnt expecting anything below 10% but they gave me 7.1%


one more quick question, do they charge to pay via the internet, or by phone? If so how much do they charge? slow processing of payments seemed to be one of the biggest gripes on ripoffreport

[SinkingFast]

I don't know how much for Western Union. Haven't used that one.

We had a death in the family one month and literally lost 10-12 days. All the sudden I realized I needed to pay bills. I used the phone payment that time. It's a $7 fee. Priority with delivery confirmation costs $5-$5.50, so nearly the same.

Internet and auto debit are free. I haven't done internet either. We have way too many acct ID's and passwords to remember as it is. That's why I just went with the phone pay. Quick, easy, and nothing to have to remember.

Personally, we don't have anything set up for auto debit. Never have, never will. If there's a problem that the money might not be there the day we need, you can't stop that payment from being deducted. Plus, if you get in a financial pinch, the Creditor has authorization to raid your bank acct. So we just don't go there.