The importance of choosing the right auto finance company and the benefits of online lenders
If you’re buying a car, then you’re probably giving the make and model some serious thought to evaluate what’s best for you. It might not be quite as exciting but choosing the right auto finance company is also important, not least for your finances. You don’t want to end up with a lemon sitting on your driveway and making a poor choice of auto lender could take the shine off your car purchase just as easily.
So, when you’re taking the trouble to research your next car, consider spending a little time weighing the options for auto finance companies as well. After all, if approved, it’s likely you’ll be entering into a contract with your chosen lender for several years.
Five factors to consider when looking for auto finance companies
Loan type – Auto loans come in different shapes and sizes and not all auto finance companies offer the same thing. Whether you want financing for a new or used car, or seek to refinance your current note, simply finding a lender that provides the right loan service could save you time.
In addition, not all auto lenders accept applications from consumers of every credit type. Look for a lender that works with consumers in your position. Lot2You Financial Services, for example, welcomes applications from car shoppers with all credit types, including bad credit. *
Features – Beyond the right type of loan, check out important factors like auto loan rates; the opportunity to apply for auto loans online and seek preapproval; whether the car financing company works with a network of dealerships, and if it provides useful tools, resources and apps to make your car-shopping process easier.
Customer service – Auto financing can be complicated, so think about finding a company that offers clear, helpful information and is available when you need it: not just when you apply, but potentially over the life of the loan, too. Lot2You Financial Services is available by chat, email and phone.
Costs and fees – Some auto finance companies charge consumers to apply for auto loans or include hidden fees in their financing contracts. You may also want to check if there are early payoff fees, should you want to pay down the loan balance early. Lot2You Financial Services does not charge to apply, include hidden fees nor charge for payoffs.
Limitations and restrictions – Before applying for your auto financing, review the finer points within the lender’s limitations and restrictions section. It will enable you to check whether your preferred terms also meet the auto finance company’s requirements. For example, the Lot2You Financial Services application page details requirements like acceptable vehicle age and mileage, and minimum and maximum loan amounts.
Online auto loans
With so many auto finance options available, getting online can make finding the best ones a breeze. Shopping for auto loans online enables consumers to streamline their financing process by comparing the key features of each lender and their loans in order to find the right fit for them. If approved, an auto loan from an online lender like Lot2You Financial Services may then provide further advantages as you go through the auto financing steps.
The benefits of online car loans
Fast application forms and instant auto loan decisions – no long-handwritten applications and waiting days for a reply.
Qualified applicants can get preapproved for vehicle financing from home, work or their mobile device.
That means no surprises: they can shop at the dealership with the confidence of a cash buyer, already knowing the terms of their loan approval.
Online auto loans with Lot2You Financial Services
Lot2You Financial Services offers consumers help from the very start of their car-shopping process. You can work out your budget and use handy calculators to estimate just how much vehicle you can afford, what your monthly payment may be, or how much you might save by refinancing.
Whatever your credit type, you can apply for an online auto loan with Lot2You Financial Services. Applying takes just minutes and you’ll receive a decision in seconds.
If approved, the response will contain multiple offers for your unique car-buying needs, along with recommended dealers nearby. Simply download and print your loan documents and make tracks for the dealership to shop for your next vehicle.
Our dealer network provides excellent customer service while offering a huge selection of vehicles meeting our financing requirements and our standards for age, mileage and value.
As a leading online auto lender, Lot2You Financial Services has helped thousands of car buyers purchase their next vehicle.