Auto Financing Online

By: Mike Hamel

More and more consumers are getting their auto financing online
instead of from the dealerships where they buy their vehicles.
Getting auto financing from a dealership has some benefits:

* Convenience - vehicles and financing are in one place and the
dealer is motivated to find financing for buyers, no matter
their circumstances.

* More options - a dealer's relationships with a variety of
banks and finance companies mean they can offer a range of loans
to fit a buyer's credit rating.

* Special programs - sometimes dealers can offer
manufacturer-sponsored, low-rate programs, but usually only to
people with good credit.

But getting auto financing online offers even more advantages:

* Certainty - buyers know how much they can spend before setting
foot on a dealer's lot.

* Clout - buyers with financing in hand are treated like cash
customers and are in a stronger negotiating position.

* Cash savings - because of competition, online buyers often get
the lowest interest rate possible for someone with their credit
rating.

* Calmness - buyers aren't subjected to the high-pressure
tactics of a dealer's finance department.

Shopping for your financing first can save you a lot of
headaches. If you know how much money you're qualified to
borrow, you can limit your search to a vehicle you'll actually
be able to afford. Why set your heart on a Hummer when your
checkbook says Hyundai.

Play it safe Due to advances in Internet security, online
financial transactions are for the most part safe and secure.
Still, The Federal Trade Commission offers the following advice
regarding online transactions:

* Use a secure browser - software that encrypts or scrambles the
purchase information you send over the Internet - 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. Source:
www.ftc.gov/bcp/conline/pubs/online/payments.htm

A leading provider of online auto financing is Pre Approved
Autos. Visitors to the site can fill out a simple app, which is
instantly submitted to reputable dealers and finance companies
in their area. The lender with the best offer wins the right to
contact the applicant with a pre-approved loan amount, usually
within a few hours. The loan quotes are free and the inquirer is
under no obligation to accept the offer.

About the author:
Mike Hamel is Senior Writer for Sales and Marketing LLC
(www.salesandmarketingllc.com), an Internet marketing company
offering everything from website development and optimization to
creating and monitoring cost-effective ad programs. Our
specialty is increasing site traffic and improving
visitor-to-sale conversion rates using proprietary software and
advanced SEM techniques. Mikehamel@salesandmarketingllc.com