Auto Financing Online

Auto Financing Online



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.
Play it​ safe
Due to​ advances in​ Internet security, online financial transactions are for the most part safe and secure .​
Still, The Federal Trade Commission offers the following advice regarding online transactions:
• Use a​ secure browser - software that encrypts or​ scrambles the purchase information you send over the Internet - to​ help guard the security of​ your information as​ it​ is​ transmitted to​ a​ website .​
Be sure your browser has the most up-to-date encryption capabilities by using the latest version available from the manufacturer.
• Check the site's privacy policy, before you provide any personal financial information to​ a​ website .​
In particular, determine how the information will be used or​ shared with others .​
Also check the site's statements about the security provided for your information.
• Keep your personal information private .​
Don't disclose your personal information - your address, telephone number, Social Security number, bank account number or​ e-mail address - unless you know who's collecting the information, why they're collecting it​ and how they'll use it.
• Give payment information only to​ businesses you know and trust, and only when and where it​ is​ appropriate - like an​ order form .​
Never give your password to​ anyone online, even your Internet service provider.
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.




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