Title:

3 Things To Look For In An Auto Loan Company Online

Word Count:

349

Summary:

Unless you have a lot of savings in the bank, chances are you'll need to borrow some money when you buy a

new car. Auto loans are available through a variety of sources, such as banks, credit unions and auto dealer

financing. You can also find a great car loan through an Auto Loan Company online, as long as you look for

these three things:

A reasonable interest rate

Since you're borrowing from an Auto Loan Company online, your interest rate should be about 1-2% less

tha...

Keywords:

online auto loan

Article Body:

Unless you have a lot of savings in the bank, chances are you'll need to borrow some money when you buy a

new car. Auto loans are available through a variety of sources, such as banks, credit unions and auto dealer

financing. You can also find a great car loan through an Auto Loan Company online, as long as you look for

these three things:

A reasonable interest rate

Since you're borrowing from an Auto Loan Company online, your interest rate should be about 1-2% less

than what you'd get through dealer financing. Search the Internet to find out what the current average auto

loan interest rate is, and then compare it to the rate you're being offered. Watch out for any loan company

that seems to be charging an exorbitant amount of interest, particularly if you have good credit and a

reasonable down payment.

Low fees and extra charges

Some Auto Loan lenders will charge all types of extra fees, like application fees, document prep charges or

credit score fees. As you compare various lenders, keep an eye out for outrageous or unusual fees. If one

online Auto Loan Company is tacking on an extra cost that no other company is charging, you may want to

ask to have it waived or choose a different lender.

No prepayment penalties

Whatever your loan term--three, five or seven years--chances are you'll want to pay off your Auto Loan as

soon as possible. Many folks send in a little extra with their monthly payment, or they send in an extra

payment whenever possible. If there's any chance you'll be doing this, make sure your online Auto Loan

Company charges no prepayment penalties. Otherwise, you'll be paying an extra fee if you pay off your car

loan before the loan term is over.

As you compare different Auto Loan Companies online, remember to choose a lender that makes you feel as

if your business is their top priority. Find an Auto Loan Company online that's willing to work directly with

you to help you get the best loan for your vehicle.

payday loans for bad credit