For consumers who get stressed out over financing a car, the internet is a good solution for you. The web offers many choices for car financing and can cut down on the time and money spent on these transactions as well. While the World Wide Web gives consumers many choices, beware of the company you choose to deal with. Many sites out there today are not really lenders at all but marketing companies looking to take you personal data and sell it to a car dealer in your area.  Regardless of your credit background, going online for car financing may be the best choice for you.

Good Credit – if you are a consumer with good to great credit, you stand the most to gain by financing online. There are an abundance of lenders trying to earn your business online with very competitive rates and terms. The complete process is fast and in many cases can be completed in just a few hours. Be careful to only deal with a lender. While getting approved is “easy” in your case, there are sites out there wanting you to complete an application so they can sell that information to a local dealer. These are “application brokers” and make their money off of selling “leads” to dealerships. Make sure who you deal with has the name “finance” or “lending” in their name. This is usually a sign that they are a lender. In many cases, financing online in your case is beneficial as you can take the rebates offered by the dealership and save.

Bad Credit – if you are a consumer with less than perfect credit, the web is still a good solution for you. Again, there are many lenders looking to finance consumers with less than perfect credit, however, the process is a little more complicated. Regardless, it is a much better experience that what you are accustomed to at the dealership.

There are many benefits to getting your car loan online instead of at the dealership:

1. Stay in Control: When you get your car loan online, you are more in control of the financing process meaning you are in control with the dealer. When you get your loan online, the dealership looks at you as a “cash buyer” allowing you to negotiate a better deal on the car you are purchasing.
2. Save Money: The internet gives you the freedom to find the best deal for you regarding your car loan. When you step foot in the dealership without your financing taken care of beforehand, you are at the mercy of the finance manager at the dealership who dictates your down payment required, the interest rate you pay and your monthly payment. Applying and taking care of that online up front allows you greater control of those items.
3. Save Time: The internet is open 24 hours a day, seven days a week. You can go online and literally apply for an auto loan any time of the day or night. Most lenders will give you a loan decision very quickly so you will know your loan terms soon after applying.

You can find out more about getting a car loan online at OpenRoad Lending. There you will find valuable tips on how to apply and find helpful information on how to negotiate a better deal with the dealership.