Auto Financing Online
More and more consumers are getting their auto financing online instead of from the dealerships where they buy their vehicles. Getting auto financing from a dealership has some benefits: • Convenience – vehicles and financing are in one place and the dealer is motivated to find financing for buyers, no matter their circumstances. • More options – a dealer’s relationships with a variety of banks and finance companies mean they can offer a range of loans to fit a buyer’s credit rating. • Special programs – sometimes dealers can offer manufacturer-sponsored, low-rate programs, but usually only to people with good credit. But getting auto financing online offers even more advantages: • Certainty – buyers know how much they can spend before setting foot on a dealer’s lot. • Clout – buyers with financing in hand are treated like cash customers and are in a stronger negotiating position.
• Cash savings – because of competition, online buyers often get the lowest interest rate possible for someone with their credit rating. • Calmness – buyers aren’t subjected to the high-pressure tactics of a dealer’s finance department. Shopping for your financing first can save you a lot of headaches. If you know how much money you’re qualified to borrow, you can limit your search to a vehicle you’ll actually be able to afford. Why set your heart on a Hummer when your checkbook says Hyundai.
A prime example of auto financing online at its simplest is www.preapprovedautos.com. Visitors to the site can fill out a simple app, which is instantly submitted to reputable dealers in their area. The one with the winning offer contacts the applicant with a pre-approved loan amount, usually within a few hours. The loan quotes are free and the inquirer is under no obligation to accept the offer.