Monday, March 17, 2008

Online Auto Loan

Online car financing has become a huge component in the Canada car loans industry. With the resources offered at Car Loans Canada not only can the buyer arm him/herself with all the information needed before accepting an offer but he/she can fill out an application for an online auto loan. Online car financing is a tool everyone should use.

Online Car Financing

According to Jupiter Metrix, 5.7 million cars will be sold on the Internet by the end of 2006. This works out to one in every three cars sold. J.D. Power & associates claim that 62% of new car buyers visit the Internet before buying a car. It is clear that online car financing is easy and accessible enough for all types of people looking for Canada car loans. Even people looking for bad credit loans apply online.

Canada Car Loans

Many consumers will make the mistake of only looking at their bank when shopping for Canada car loans. The assumption that banks will offer the best rates when it comes to car financing is often a mistake. In many cases, companies who specialize in automotive financing offer better rates than banks due to the shear volume of car loan business they do. Frequently, the automotive dealer will get you a better rate through your own bank than you would. The exception to this rule is the use of a personal line of credit. Banks will sometimes offer their customers a revolving line of credit at a lower interest rate than a traditional car loan. However, you may have to use a good portion of this lending tool that is normally reserved for home or emergency purposes. It is important to keep in mind your long term plans.

The Benefits of Online Car Financing

  • Streamlines the process of securing financing.
  • Free of charge.
  • Can even apply for bad credit loans online.
  • Car Loans Canada uses a secure server for protection of your information.