online car loan applications
Getting approved for a car laon

Getting a Car Loan

A lot of people don’t realize that getting a getting a car loan is not much different than getting a home loan. The same steps take place on both loans, only home loans are much larger so lenders require more information for the borrower. So why is it borrowers of home loans go to a bank or lender and get pre-approved for a loan amount. Then go out and find a house within the loan their approved for. Yet auto loan borrowers go out and find a car, then hope to get qualified for it? It doesn’t make sense, does it? Imagine if people bought houses like they do cars? They have their realtor drive them around in these nice neighborhoods. Look at house after house all weekend. Go to open house after open house to see what the house is like. Find amazing houses with all kinds of upgrades. Put in a full price offer. The buyers accept the offer. Then they go to a bank and are told they are not approved for that large of a loan. Talk about wasting the realtors time, all the sellers time, and the buyers time as well. That what people do when you are pre-approved for a car loan.

Applying for a car long online
Applying online takes a couple minutes

Apply for Car Loan first

Rather than drive all over the place looking at cars not knowing if you can even afford any of them. Wouldn’t it make more sense to spend about 1 minute applying online at for a car loan. Once you send your application in online the network of lenders they work with will evaluate your information and contact you to tell you what you’re approved for. From there you’ll know important things like #1 What you’re loan amount max is. #2 What your payment will be if you decide to you the entire loan. #3 The interest rate you’ll be paying, and #4 For how long your loan will be for. That way there are no surprises. Car dealership finance managers love you blind side buyers with surprises like “no the loan is for 7 years not 5 years” or “that payment I quoted you was only if you traded in your car AND put down $2500. I thought we covered that”

The frustration of getting turned down for a car loan
The frustration of getting turned down for a car loan

Online Car Loans

Rather than drive to a dealership. Pick out a car you love. Test drive it. Come back and go into the office and find out you are not approved for a loan large enough to buy that car and feel embarrassed. You can skip all that drama and just full out a quick form in the privacy of your home and have the lenders contact you telling you what they can do for you. It saves you time and energy. The bankers are going to make interest on your loan, right? Make THEM do a little work ?