Frequently Asked Questions About Online Car Loans

Here are the answers to some of the most commonly asked questions about online car loans.

Is there an application fee for online car loans?

No, our application is absolutely free. You spend a few minutes filling out our application, and we connect you with multiple lenders who will give you competitive quotes on online car loans.

What kinds of online car loans do you offer?

Our lenders offer installment loans to purchase new or used cars or motorcycles. We also offer auto refinancing, if you're interested.

What about a down payment?

This is another point that sets online car loans apart from those of traditional lenders-we do not require a down payment. You can apply for your loan, get approved, and simply write a personal check to the dealer for your new car.

How do I know how much to apply for?

To be safe, it's always a good idea to apply for online car loans for slightly higher amounts than you think you'll need. This will give you more flexibility when purchase time comes. The amount of your actual loan will be determined by the price of the car at the time of purchase, so don't worry if you don't have it exactly right.

Should I lease or buy?

For most people, leasing is a money trap. There are very specific cases in which leasing makes sense, but these are few and far between. Leasing would be a viable option for you if you take excellent care of your vehicles, know you will drive under the 12,000 annual minimum, and plan on getting a new car every 2-3 years. If you don't meet all of these criteria, buying will save you money and a lot of headaches.

Can't I just finance through my dealer?

Yes, if you want to lose money. Finding the best deal on financing at your dealer is rare because dealers want to sell cars, not give you the best rates on your loan. Dealers often take advantage of buyers with financing terms because they are a captive audience and are not aware of more competitive financing alternatives, like online car loans.

Should I trade in my current vehicle or sell it?

To answer this question, ask yourself this: is a sizeable difference in your trade-in value worth the extra effort of selling the car yourself? If so, you will almost always get more for your car if you sell it to another individual or a used car dealer. Of course, you will have to put the time and effort into the sale, clean up the car, and make any requisite repairs.

If you have further questions, please don't hesitate to get in touch with us via our Contact Us page.