Online Auto Financing Saves Time and Money
by Mike Hamel
Getting online auto financing has
become very popular in the past few years. According to a recent survey by
Forrester Research, online shoppers are expected to spend $15.9 billion on autos
and auto parts in 2006. The study also notes that, "22 percent of offline sales
are influenced by the Web."
Direct Financing
Getting auto financing directly from a bank, credit union or other lending
institution online is known as "direct financing." Consumer advocates recommend
direct financing because it allows you to negotiate the cost of your financing
separately from the price of your vehicle. Another advantage of getting your
financing first is knowing how much you have to spend before you start shopping.
And, being pre-approved will keep you out of a dealer's high pressure finance
department.
You can pre-qualify for an auto loan almost instantly. Online applications take
only a short time to complete and your answer is quick in coming. It is easy and
convenient and can be done anytime from the comfort of your home. The online
loan process is completely secure thanks to modern browser technology and
electronic encryption.
The Internet is not only the place to get auto financing; it's also a great
place to find auto buying advice, shopping guides, and the safety records on any
vehicle. If you are buying new, you can learn about any manufacturer's rebates
that might apply. If you are buying used, you can get a specific vehicle's
history from a site like CarFax.com. You can also purchase an Extended Service
Contract or Guaranteed Auto Protection (GAP) insurance, if you want the extra
peace of mind.
Online Security
The Federal Trade Commission offers the following advice to ensure that online
financial transactions are secure and that your personal information is
safeguarded:
Use a secure browser--software that encrypts or scrambles the purchase
information you send--to help guard the security of your information as it is
transmitted to a website. Be sure your browser has the most up-to-date
encryption capabilities by using the latest version available from the
manufacturer.
Check the site's privacy policy before you provide any personal financial
information to a website. In particular, determine how the information will be
used or shared with others. Also check the site's statements about the security
provided for your information.
Keep your personal information private. Don't disclose your personal information
- your address, telephone number, Social Security number, bank account number or
e-mail address - unless you know who's collecting the information, why they're
collecting it and how they'll use it.
Give payment information only to businesses you know and trust, and only when
and where it is appropriate - like an order form. Never give your password to
anyone online, even your Internet service provider.
Keep records of your online transactions and check your e-mail for contacts by
merchants with whom you're doing business. Review your monthly credit card and
bank statements for any errors or unauthorized purchases promptly and
thoroughly.
It's important to choose a lender with a reputation for fair dealings and
competitive rates. One such company offering free auto financing quotes online
is Auto Loans In Seconds. Even if you have bad credit, they will work to get you
the best rate possible for your unique situation. Their no obligation quote is
free.
If a new auto is in your future, start the shopping process online. The time and
money you save will make you glad you did.
About the Author:
Mike Hamel is the author of
several books and the Senior Writer for AIM Techs, an Internet marketing company
that specializes in advanced SEM techniques and in developing sites like
Auto Loans In Seconds
Source of article:
www.goarticles.com
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