on Applying for an Auto Loan Online:
Getting financing for your new vehicle purchase
can be very fast and easy. Getting an auto loan
online is done without going through the dealer;
this is known as direct financing. By getting
a loan without using the dealer it can often give
you more leverage when negotiating the price of
your vehicle instead of having the dealer trying
to pressure you with special financing offers.
Getting a loan online in advance will also speed
up the process of buying a car.
Online Direct Financing Advantages:
Many online lenders have a lot less overhead and
make a lower profit on each loan so their interest
rates are often lower than you can get from a
dealer (except for special promotional financing
offers that dealers run). Most lenders do not
charge an application fee or require a down payment.
Getting a direct finance auto loan from an online
source also gives you better account management
features than most dealers. Instead of financing
through an automaker’s own finance company
you are dealing with a company that specializes
in only financial services, hence you end up with
a broader range of account management features.