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How An Online Car Loan Gives You Power At The Auto Dealer
By EchoBay Loans Staff Writer

If you're thinking about purchasing a car, thoughts have probably crossed your mind about how much easier it would be if you just had the funds to walk into a dealership as a cash buyer. You'd get taken more seriously, you wouldn't need to hassle with spending hours arranging financing with the dealer finance department, and you'd probably get a much better deal.

The bad news is that very few consumers can afford to pay cash for a car. The good news is that online car loan companies have changed the face of cash buyers across the nation. Even if you don't have enough cash on hand to just mosey on into your local dealership to purchase the car you want, you can still get all of the perks of a cash buyer by arranging your financing prior to visiting the dealership.

Every day, more and more consumers are realizing that applying for an online car loan is one of the best ways to be treated like a cash buyer when it's time to purchase your car. Many online car loan companies are sending car buyers checks to fund their next car purchase. Walking into the car dealership with one of these checks will give you a lot more buying power and will give you more control of the car-buying process.

So why do car dealerships look more favorably upon buyers who already have the funds to purchase a car? Put yourself in the salesman's shoes. Traditionally, you make most of your salary from commissions. Because of that, you really only want to work with serious buyers, and a buyer that has the cash on hand to purchase a car is more likely to grab you a commission than working with a buyer who doesn't even know if they'll be approved for a car loan. By getting an online car loan, you're turning yourself into the ideal customer. The car salesman is going to know you are serious, and is most likely going to be willing to bend over backwards to make you happy so they can make a sale.

An online car loan is also somewhat of an insurance policy against paying hidden dealer profits. By already having your financing arranged, you're eliminating the risk that the dealership is going to hide their profit somewhere in your financing agreement. You also will be spared the experience of having to listen to the song and dance about the dealership being able to charge you more for the car because your credit isn't ideal. While not all dealerships do this, it is not an uncommon practice.

Another benefit of an online car loan is that you'll be more apt to stick to your budget. Sure, the more expensive model with the leather interior and the DVD player in the back would be nice to have, but it's really not necessary. If you've got a set amount written on the check that was given to you by the online auto loan company, you're more likely to stay within a budget that you can afford. Salespeople are really great at making options sound like necessities. It's their job. As an educated consumer, it's your job to make sure you don't fall for it. Having a predetermined budget can help make that job a lot easier.

Having a preset budget is also likely to get you a better deal. If the salesperson knows you have cash on hand for a certain amount, and the car you want is a little bit above that amount, he or she might be willing to bring the price of the car down to meet your budget. They're in the business of selling cars, and if negotiating into a cash-buyer's price range means making a sale, chances are likely that you're going to get the deal that you want.

When it's time to purchase your next car, put yourself into an entirely new league of consumers. Prearrange your auto financing and learn what it's like to be treated as a cash buyer. Whether you arrange your auto financing through an online auto loan company or you opt for another way to prearrange your car financing, the entire car-buying process is likely to go much more smoothly and you'll have better chances of getting a great deal on the car you want.


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