Road Loans Finanical

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To good to be true
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DALLAS, TEXAS -- Recently I applied for an auto loan through a bank online and received an email almost immediately from a company called Road Loans. The information I supplied online had been approved for financing me for an auto loan to buy the car or truck that I wanted. The email went on to say that I would receive an envelope to be Fed-X’d within the next day or so with all the required paper work and a blank check. Two days later the envelope was left on our doorstep. After opening and reading all of the information and requirements I was spell bound by the fact that there was a blank check to cover a minimum purchase of not less than $7500.00 and not to exceed $13000.00. It was almost too good and too easy to be true. With that thought in mind, I put the package on my desk and it laid there for two weeks. I noticed that as I would check my email each day there was always an email from Road Loans encouraging me to act now as I needed to hurry and get to a dealership and purchase a vehicle as this was a time-sensitive offer.

On March 1 we took our truck and paper work to a dealership and picked out a vehicle. The dealer gave us a good trade-in value for ours; the paper work was signed with them for Road Loans to finance and we did indeed purchase ourselves a new small truck. The next day we picked it up and went home. Three days later I was leaving my job and I get a phone call from a lady with Road Loans. She asked if I had just changed my job? I told her yes, that it was all on my application. (My new job start date was never implied to be a problem. Nothing to worry about…) She said she was looking at my application and all was well except for my job change and because of that they were not going to approve the loan. So, after being pre-approved by Road Loans and being sent a blank check by Road Loans and pushed to hurry to find a vehicle, trading in my truck and now having a new truck that we have been driving, Road Loans NOW says they WILL NOT finance! All my information was out there to be evaluated before the push-pull emails of hurry up and wait!

The frustration is overwhelming and the unprofessional way this has NOT been handled, the putting of “cart before the horse” mentality is very taxing. I went online to research other consumer complaints about this company. They are one of the largest auto loan companies out there and also go under the name Triad. Buyer BEWARES!! I suggest that you hit the consumer complaint sites and take the time to read, read, read and read some more… I even found a previous complaint by a family that experienced practically the same situation. Some of the stories are pretty horrific concerning this company and I am hoping to impact even one potential buyer to do their research and homework. The big fish always eat the little fish even though there are more of us than them; and it is we and our hard work that keeps them fat and healthy to prey, yet once again, on the ignorance and gullibility that we don’t know what the Real Offer is. Be careful where you swim…

Dallas Texas

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User Replies:
tnchuck100 on 03/08/2008:
If you have a copy of your application and a copy of all the documentation they sent you approving the purchase take it to a lawyer and see what can be done.

On the surface it appears that are trying to back out of a contract they have already entered into.
madconsumer on 03/09/2008:
any time a loan is applied for , and you change jobs, this DOES degate the original application. if anything changes since the orignal application was filled, they do have the right to turn down the application, no matter if they had pre approved you.
Natalaejae on 08/02/2011:
I know I'm late, but my cousin is a finance major and she read over the contract for me from ROAD LOANS and she says they have a cloause that you CAN NOT take them to court, you can only go into arbitration-which means they haa a lot of fradualent activity in the pass and are now trying to protect themselves. She also asked me a rectorical question: Have you ever heard of a fianace company that finds the dealer for you? Usually it's the dealer that finds you a finance company. She said the dealers that Road Loans refer you to are small rinky dink dealerships or at least those that won't be a whistle blower on their operation. Hope this helps! I was hell bent on signing with this finance company until my cousin informed me.
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