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If you want more than one quote for a car loan without having to spend lots of time, you should try an online car loan. You can get the best rates, you will save time and money too.
Why are online car loans better?
You will find that online car loan rates can be much cheaper than car loan rates quoted to you from a car dealer. You can get a lower annual percentage rate (APR) and there are no application fees on new and used car loans.
Your car loan APR can be locked in for sixty days. You will know if your loan is approved in a very short period of time, sometimes as quick as one half hour if you apply during business hours. You can be guaranteed there are no hidden finance charges, point or prepayment penalty fees. Best of all you can get your check over-nighted to you using Fed Ex or UPS.
There are some companies that are more well known than others for their online car loans, most will offer you free loan quotes for new and used car purchases. You can also refinance your existing car loan for a lower percentage rate. You will be able to get a loan for a car purchase whether you have bad or good credit, at the best rate the online car loan company can give you.
Some of the more popular online car loan companies are:
Capital One Auto Finance
Capital One Auto Finance is the largest online car loan provider. This company offers a wide range of vehicle financing packages, including new or used car loans, motorcycle financing, car refinancing and lease buyout loans. When you apply for your car loan you will get a response in as little as 15 minutes and you could be driving around in your new vehicle in as little as one day after your loan is approved. The interest rates you will find at Capital One can be 1 to 2 percent points less than the loan your bank or car dealer will offer you.
RoadLoans
RoadLoans is another very popular online car loan service. You can find out if you are approved for your car loan, with good or bad credit, in minutes. If you are approved for your car loan you can get the check over-nighted to you.
If you find a better rate at your car dealer or bank, you are not under contract to use the check RoadLoans has sent you. All you have to do is destroy the check,and throw it away, without having to pay penalties or fees.
Eloan
Another popular car loan service online is Eloan. If you apply during their business hours you will get a response in 15 minutes. When you are approved all you have to do is download and print the E-Fund agreement or you can choose to have it mailed to you. The E Fund agreement works like cash at most franchised car dealers. You can buy your new car right away, or you can shop around for the perfect car for you.
Like RoadLoans, if you find a better rate quote you can just destroy the check and throw it away. You will not be charged any penalty fees. Eloan will provides online car loans as a free service.
Car.Com
Car.Com offers their customers the ability to receive price quotes from dealers in their area, lets them research car prices, specifications and see product reviews, get financing for their used or new car purchase, and even sell their car online.
What could be easier than using an online car loan company when they offer you all these services? It is fast as can be, very easy and you get a lower loan interest rate too!