Car Loan Credit

Go into any dealership and any salesman will tell you that their car finance loans are the best so do not to worry about your car loan credit.. Of course it will also be convenient – car and credit finance all under one roof. Whoa! Put the brakes on!

Clever Patter

Don’t fall for that clever patter. Dealerships and car showrooms never have financial branches to their companies. They use established third party credit lenders. The problem here is quite simple. To encourage the dealerships to use their car loan credit services the lenders must pay out large bonus payments. The dealerships in turn encourage their salesmen to ’sell’ the car finance loans by paying them a hefty commission. Now the finance company will not want to loose out and earn less money so they put up the interest rates by however much they must payout to the dealerships. That’s right – YOU pay for that car loan credit commission!

Finance On The Internet?

Many of the finance companies now have what is called a ‘web presence’. I.e. they arrange personal and car loans credit via the internet, cutting out offices, staff and other corporate overheads. This means a lean route to market bypassing all the middle men, which in this case are car dealerships and salesmen.

A Better deal For You?

Does that mean you will get a better deals on your car finance loans? You can bet your boots it does. Of course everything being equal the finance companies would like a little extra too, and I am sure they get it, but the savings they make mean they are able to offer car loan credit more cheaply and to slightly more ‘risky’ markets. For instance it enables the lenders to approve car finance loans for those with a less than perfect credit history and lower credit scores. In fact many lenders specialise in this market and that’s great news for you.

Online Car Loans Are Fast

Online credit loans also have the added advantage of being fast. Applications need no paperwork, the computers do most of the donkey work by automating credit searches and compiling your personal data. This usually means fast decisions. Another advantage to you is there is no salesman to deal with.

So forget the showrooms and dealerships. Get online and get that car finance loan. Then when you’re looking for your next car it’s you who will be in charge not the salesman.

Don't Despair At The Dealers. Online Car Finance Loan Applications Really Are Are Fast And Easy (picture by Channah)

Tweet This Post  Delicious This Post  Digg This Post