Has anyone secured an auto loan off the internet prior to shopping?

I would like to and was wondering if anyone had any recommendations on who I should try?

rick

 

Not really an answer to your question, but some advice maybe. I would go with a local Credit if you can, but if not with a local bank, or local branch of a national bank. Credit s will have the best rates, but most have requirements for membership. Shop around for the best rate before you get a loan. Different banks may differ up to 2% on their rates, which really matters with a used car. A higher rate will cause your principal balance to go down slower than the depreciation of the vehicle, so if you go to sell a few years down the road, you will owe more than it's worth. A lot of banks will give you a little lower rate if you set up automatic withdraw from your account. We pay 4.25% at our credit .

 

In my opinion, many people prefer to purchase a used car rather than a new one because it's less expensive, and not each and every person is able to buy new car. It is really a tough deal for loans of buying a used car comparing to other types of loan in case of purchasing a new car.

 

With the way banking has turned, would start with the bank you currently do business with. Lending isn't what it used to be....