![]() ![]() That, combined with accelerating adoption of digital lending, will lead to significant growth for OpenRoad. "We expect demand for auto refinancing to continue to rise as smart consumers look for ways to lower their expenses. "Over the past 12 years, we've built a tremendous operation known for saving customers money and delivering a convenient, modern online experience," Goodman said. OpenRoad will also leverage this investment to broaden its marketing channels and grow both organically and through acquisition. Through its partnership with Clarion, OpenRoad plans to capitalize on its market position and explore additional business lines, such as lending for auto purchases, lease buyouts, car insurance and other consumer verticals. OpenRoad currently focuses all its efforts on auto refinancing. ![]() The company uses best-in-class sales and fulfillment processes, strategic marketing and a proprietary software platform to provide its lending partners with high-quality, high-performing direct loans that meet each lender's underwriting criteria. In addition, OpenRoad offers value-add vehicle protection products such as GAP, vehicle service contracts and paintless dent repair. The terms of the transaction were not disclosed.įounded in 2009 by the same executives who pioneered RoadLoans, OpenRoad partners with banks, credit unions and institutional investors to enable consumers to refinance their existing auto loans, lower their interest rates and achieve significant monthly savings. Chris Goodman, OpenRoad's CEO and co-founder, will retain a meaningful ownership stake and continue his role as CEO. 13, 2021 (GLOBE NEWSWIRE) - OpenRoad Lending and Clarion Capital Partners today announced that Clarion has completed a strategic investment in OpenRoad, the fast-growing direct-to-consumer auto finance company. Before you make hasty prepayments, you should inquire with your lender about repayment terms and any applicable fines and reductions.FORT WORTH, Texas, Sept. So you need to check where your lender stands on early payment. Some lenders will give you a small discount if you pay your car loan early, while others may charge you a penalty. OpenRod Lending is a network of lenders that specializes in auto loan refinancing. You can download your Refinance Loan Package with payment options soon after approval. The time it takes for each lender to issue these returns varies. Once the company has received all the necessary papers from you, OpenRoad Lending will make every effort to send the payback to your previous lender within ten business days. Once OpenRoad Lending receives the payoff cash, your current lender will return any overpayment directly to you. In contrast, the lower your credit score, the more frequent and defined your payment options are. Generally, the higher your credit score, the fewer loan payments you will have to make and the more payment processing options you will have. Your payment schedule and manner may differ depending on the lender and criteria, such as your credit history. Credit card number Bank Identification Number (BIN) Lookup.Mortgage Choose a mortgage according to your needs.Credit cards Draw up the best bank card online.Credit Score Find out your credit score for free. ![]()
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