back to articles | December 20, 2022 | Dale Peterson

Categories: Auto Loans & Financing Refinance To Save Types of Car Loans

Finding A Good “Direct To Consumer” Auto Loan During the Holidays

Two significant activities are involved when buying a car; Finding the vehicle and requesting a loan to pay for the car. A consumer auto loan is a loan secured to purchase a vehicle only. It has collateral, meaning the car's value is the lender's security.


Two significant activities are involved when buying a car; Finding the vehicle and requesting a loan to pay for the car. A consumer auto loan is a loan secured to purchase a vehicle only. It has collateral, meaning the car's value is the lender's security. It implies that the lender has protection against default. In other words, if the loan defaults, the bank can seize the vehicle.

Compared to different types of loans, an auto loan that is a “direct-to-consumer” has lower interest rates because the lender tends to take less risk since the lender can take the car if the loan defaults. Also, working with the lending platform, you don’t have to worry about additional fees or charges.

Getting ready to borrow

One needs to do much research before purchasing a new or used auto. Use the online comparing tool for vehicles by checking the reviews and ratings of different models. Ensure the vehicle is ranked high in the areas of importance to you, such as the price, safety, and gas mileage. More than likely, you already have done your homework and have a pretty good idea of which auto you would like to finance.

Compare the rates offered by different lenders by utilizing, which takes all the work out of finding lenders that match your needs and credit history – yes, online lenders. You will not be required to know what your credit score is – and in the lender search process, your credit score will NOT be affected. You get up to four loan offers that allow YOU to choose which finance offer best matches your needs. Seriously, it’s your choice!

Online Auto Financing

Many lenders have made it easy for people to get instant online auto loans through online auto financing and new auto loans. Unfortunately, you must fill out application after application. Not with Their process helps facilitate funding a new or used car purchase by matching up the best lenders that can be competitive with interest rates and loan terms. It’s a VERY short set of questions that can be done in minutes. What you get back quickly is an auto loan offer directly to the consumer that YOU select if you want to move forward. An instant approval makes the process a real-time saver for you, and you can get it all done and finalized at home!

To receive instant approval on a loan application, the following steps are required: selecting a lender platform with many national lenders, applying for the loan, reviewing the offers, and, when you are ready, you can select the lender and terms of your choice. Choosing a lender involves looking for someone who can provide you with an auto loan that meets your need. With the availability of the internet, a person can easily search for different auto loan providers, compare their terms and conditions, and choose the one that suits them.

After completing the very short loan offer application, and I do mean short, the process commences, and the shorter the application, the quicker the loan will be approved and offers made. Finally, accepting terms and conditions, and this is after the loan approval, review terms and conditions to ensure that the offer meets your requirements. The whole goal is to save you time and money before going to the “Penalty Box” at the dealership to get financing. When done with the approval that best fits your needs, you work directly with a national lender who will make the rest of your auto-buying journey very easy.

Online Auto Refinance Loan

While we talk about auto financing, refinancing might also be an opportunity for you if you still have a balance on your current auto loan. If you have other loans that are outstanding, such as credit cards, you may be able to get a better car refinancing loan with a lower balance, thus reducing your outgoing cash flow. Then you can use the money saved by a reduced monthly payment to pay off your other loans. Then when the time is right, it might be time to go shopping for a new or used auto finance loan.

To determine whether the refinancing notion is best, take a refinancing calculator while ensuring all the fees. Payment Amount Calculator: Calculate how much your payment will be given a specific loan amount. This tool is provided for your convenience by The actual amount of your payment may differ depending on the actual terms of your loan.

As vehicle sales decline in this crazy market, dealers will continue to face inventory shortages that impact wholesale supply chains and retail. As a result, there is an opportunity for you to get a competitive loan, be it a new, used, or auto refinance loan. Benefiting both consumers and lenders, auto refinance continues to be necessary to consumers as well by allowing them to lower their interest rates, promoting loyalty and trust. In the first few months of purchasing a new or used auto, delinquency occurs more often, which means that auto refinances loans have better performance than purchase loans.

Details on interest rates

The rate of your loan can be affected by so many factors. They include terms on how to repay the loan, discounts, incentives, down payment, and credit score before comparing to ensure that terms and conditions are the same. Each offer can vary, so make sure you ask questions and compare. Want some background? Read this quick finance guide for ideas and suggestions when shopping for your next auto.

Extended warranty

The dealers will always add it, but this decision varies with the person and situation. An extended warranty takes the risk when something breaks from your vehicle, and the cost spreads over the warranty terms. Instead of paying for the actual damage when it occurs, you only need to pay for small amounts in installments, and when the injury occurs, that warranty caters to it all.

If you have insurance, then you probably don’t need an extended warranty. They can be very costly in the long run. If you decide to look into an extended warranty, you should always negotiate the warranty price because the first price offered is usually higher. Just think twice before you spend those extra thousands of dollars on something that you may not need. Know that warranty offers are add-ons, and most buyers never need to purchase one. It’s throwing your money away. Just be smart.


When looking for a good car for the holidays, it will be necessary for a person to consider all the above information, which includes all the costs and interest rates. It will prevent the dealer from packing features that will be unnecessary. You should avoid having loans that go for an extended period because by doing so, you will be making more of them by paying more interest. Finally, it is essential to take offers and loan options from lenders and compare them before making any decisions. Do so at You won’t regret it.