Interest will accrue on your existing loan until it is paid in full. The actual number of days you will not have a scheduled monthly payment due will vary depending on the terms of your existing loan, your payments on the existing loan, and applicable state law. Skipping a payment assumes you will not have to make a payment in the current month on your existing loan, and your first payment on the new loan is scheduled at least 30 days from the day the new loan is funded. An $18,000 loan at 17.99% APR for 24 months is $898.55 per month, for 36 months is $650.65 per month, for 48 months is $528.66 per month, for 60 months is $456.98 per month and for 72 months is $410.44 per month. A representative example of payment terms are as follows: An $18,000 loan at 3.24% APR for 24 months is $775.57 per month, for 36 months is $525.37 per month, for 48 months is $400.33 per month, for 60 months is $325.36 per month and for 72 months is $275.42 per month. Terms are subject to change and not available in all states. Your final payment will be based on the amount you borrow, interest rate and term of the loan. Your final interest rate will be based upon your credit profile, term of loan and year and current mileage of the vehicle you are refinancing. If you continue to meet the criteria used to select you for this offer, you are prequalified for a secured loan on the automobile you are refinancing of no less than $10,000 at an interest rate between 3.24% APR to 24.99% APR calculated on simple interest paid out over a period of 24-72 months. The ability to add or remove someone from the loan you are refinancing may not be available in your state. You must continue to meet the criteria used to select you for this offer and our creditworthiness criteria. Any prequalification under this offer presented to OpenRoad Lending after the expiration date will be processed as a non pre-qualified application. The minimum loan amount you are prequalified to receive is $10,000 meaning you must owe at least that amount on the vehicle you are refinancing. Commercial vehicles, vehicles with a conversion package or a branded or salvaged title and motorcycles are not eligible for financing. Value is based upon the wholesale value of the vehicle set forth in the applicable National Automobile Dealers Association Used Car Value Guide for your state. Maximum loan-to-value restrictions of 125% apply. We must obtain a valid first lien on the vehicle securing the loan. Vehicles that are no longer being manufactured are not eligible to be refinanced under this program. You must provide a valid driver’s license (one loan allowed per valid Driver’s License).Ĭredit is available for the refinancing of one loan on your credit report that is secured by a vehicle or light duty truck that is up to but no more than seven model years old or newer, with a maximum mileage not exceeding 100,000. You must provide evidence of Full Coverage Automobile Insurance at the time the loan is refinanced. Your maximum monthly expenses, including the monthly payment on the loan, cannot exceed 40% of your gross monthly income. The monthly payment on the loan cannot exceed 10% of your gross monthly income. You must be at least 18 years of age and provide us evidence of at least $2,000 gross monthly income. Offer is non-transferable and supersedes all prior offers. *Terms and Conditions of Offer: Offer valid for a limited time only as shown on the front page of the letter and/or web page. Experian Consumer Opt Out, P.O Box 919, Allen, TX 75013 If you do not want to receive prescreened offers of credit from this and other companies, call the consumer reporting agencies toll-free: 1-888-5OPT-OUT, or write: Equifax Options, P.O. This offer is not guaranteed if you do not meet our criteria, including providing acceptable property as collateral. PRESCREEN & OPT OUT NOTICE: This “prescreened” offer of credit is based on information in your credit report indicating that you meet certain criteria.
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