DALLAS — Online automotive research site Cars.com has selected RoadLoans.com as its exclusive lender for its online customers, allowing visitors to Cars.com, newcars.com and pickuptrucks.com to get preapproved for auto financing.
RoadLoans.com, founded in 1997 and owned by Santander Consumer USA Inc., is an online auto lender specializing in new and used auto financing for customers with all types of credit. RoadLoans.com also offers customers the opportunity to refinance an existing auto loan.
Consumers shopping at Cars.com will have the option to select financing as part of their search for a particular vehicle. Once at the Car Financing Center, shoppers can complete a secure online loan application and receive a loan decision in less than a minute, according to Cars.com.
Consumers may customize their auto loan, selecting their preferences for annual percentage rate (APR), loan term and down payment amount. Consumers also will benefit from educational tools such as payment calculators, car videos, online chat with an auto loan specialist, and contact information for the dealer selling the vehicle.
"Cars.com and RoadLoans.com are leaders in the online car shopping market, and are uniquely positioned to connect approved consumers with participating dealers," said Lana Johnson, vice president of originations for Santander Consumer USA.
"Cars.com is thrilled to work with RoadLoans.com to offer real-time finance decisions to our customers by a trusted, global banking leader like Santander," says Mark Seaton, director of new business for Cars.com. “RoadLoans.com has the ability to offer competitive financing to all credit types from prime, to non-prime to sub-prime, which was very important to us."