Deciding on how to finance that next car or truck just got easier. With many lenders now offering great rates and terms on the internet, it is no wonder why so many borrowers are choosing to finance that way today. There are many benefits to securing that financing on the web before heading to the dealership with the biggest being the ability to now negotiate as a cash buyer. This gives you an upper hand when negotiating with the dealer. Here are the steps to go online and get that next car loan.
Do Some Research: one of the things you will want to do is to research where you can get the best deal on that financing. While many websites boast of being an online lender, the fact is that there are really only a handful of “real” lenders out there. Many of the sites you see are just marketing companies trying to gather your personal information and then sell that to a dealer in your area. Try to look for the name “lending” or “bank” or “lender” in the name. This is not always a guarantee but will help steer clear of those that are not true lenders.
Decide on the Terms You Want: the nice thing about choosing to go online for that next car loan is you have more flexibility to choose the terms that are right for you. Maybe securing the absolute best rate is all that matters or maybe your main concern is getting the lowest monthly payment regardless of how you get there. Talk to you lender and share with them your goals. Most are flexible and can help you accomplish what you are looking for.
Buy the Car: once you have decided on a lender, completed an application and settled on your loan terms, you are ready to go find that perfect car or truck for you. Are you looking for a new car or used? Many dealerships now give the option to browse inventory online so you can “shop” for that perfect car from the comfort of your living room. Once you find the one you want, submit a request to the dealerships internet sales person. They can provide you a quote on the vehicle and if acceptable, this will eliminate much of the time you have to spend at the dealership.
Getting that loan for your next car or truck could not be easier. Follow these helpful tips and you will be on the road in no time. You can find more advice on car loans or even loans to refinance a car loan to lower your monthly payments online at OpenRoad Lending.
About the Author: Chris Goodman has been in the auto finance business for more than 20 years and has assisted thousands of consumers with their car loan needs. His articles are insightful and assist consumers in understanding the ins and outs of car finance. OpenRoad Lending is an online lender with a consumer friendly website providing auto financing solutions to consumers in the process of purchasing a new or used vehicle or refinancing their existing auto. Visit the website at http://www.openroadlending.com for more information about how easy it is to get a car loan.