back to articles | December 31, 2018 | Dale Peterson

Categories: Auto Loans & Financing The myAutoloan Difference

Online Car Loan

Online Car Loans Make Sense

Are you hesitant to apply for a car loan online? Many people are the first time; however, looking for a new car loan online is becoming more and more popular. Statistics show 84% of new car buyers do extensive online research before applying for a new car loan, traditionally or online.

There're many reasons why an online car loan makes sense. Online car loan sites can match you with the right car loan lender for your specific needs. Online car loan companies aren't bound to a certain area. They can search for the best car loan rates all over the country. Applying for a online car loan is safe, secure, confidential, easy and fast.

Online Car Loans Save You Time

Online car loan financing requires far less time than shopping in person or by phone. You aren't stuck in a dealer's office while they have secret conversations with the finance guy. When you apply online you don't have to go from dealer to dealer looking for the best loan.

Applying online for a car loan is free and it usually takes less than 10 minutes to complete the application. Approval decisions take much less time than traditional car dealerships. Online loan companies will contact you with a loan decision quickly; some within 15 minutes, others may be between 1 and 24 hours.

Online Car Loans Empower Buyers

Most, if not all, online loan offers don't commit you to purchase or finance anything. You're not committed to any loan you apply for, so it's an easy way to find the best car loan suited to your individual needs.

You'll get several quotes to use as bargaining chips before making your loan decision. When you're approved for your loan before going to a dealership you can avoid dealing with untrustworthy finance guys.

When an online lender approves your loan, and you accept it, they typically send you a site draft, or check, by overnight mail. The site draft works the same as cash.

You can take it to a dealership and tell them to take it or leave it! Negotiate with confidence because your online car loan puts you in the driver's seat!