Auto Net Financial News

Applying online can help you secure a bad credit car loan

An alternative

You may think that those of us here at AutoNet Financial are only tooting our own horns when we advise people with bad credit to apply online for their loan. But the fact is, there are a number of legitimate reasons why we feel this method has its advantages.

Car dealers and special finance

Referred to in the industry as special finance, bad credit car loans are a much different animal that the traditional car loan. And even in this day and age, with the number of consumers with bad credit increasing every month due to layoffs and mortgage defaults, not every car dealer has a special finance department that deals with people who are credit challenged. Even if you are familiar with a particular dealership that has done subprime financing in the past does not guarantee that they are still doing special finance.

The reasoning behind this is simple: all dealers do regular finance. But because subprime auto financing requires a different set of skills, many car dealers only do special finance because they have a good special finance manager. If that person leaves, the dealer simply stops doing bad credit car loans.

Here’s how this scenario would play out: You drop by the dealership and the finance manager runs a credit report and then informs you that they can’t finance you. In addition to an inquiry on your credit report (which can have an effect on your credit score), you still don’t have a new car. In addition to the inquiry, the process can also be embarrassing, frustrating and, in some cases, insulting to you. So how can you avoid this situation?

Online bad credit car loans

One answer (and at AutoNet Financial we feel the best one) is applying online for a bad credit auto loan. But just as all car dealers are not the same, all web sites are not created equally, either. Many web sites will promise you instant approval with no down payment, while other sites will tell you that all applications are approved. But remember, if it sounds too good to be true, it probably is (there is not a single legitimate subprime lender that approves every application it receives).

You should also keep in mind that if a web site tells you that all applications are accepted, that only means that they will take (accept) an application from you – it doesn’t mean that they will approve the application.

What AutoNet Financial can do for you

At AutoNet Financial, we have helped thousands of people with bad credit get a new or low mileage used car. More importantly, we have started these people on the road to reestablishing a good credit history. We make no pie-in-the-sky promises with regard to guaranteeing you a bad credit car loan.

What we can tell you is that we work with many of the best dealers and the best special finance departments across the United States, placing you with a dealer that not only knows special finance, but one that is as close as possible to where you live. Our web site features loan calculators that will give you a reasonable idea of what you can afford and we have live operators who are anxious to answer any additional questions that you might have. You can also view a list of the basic requirements of a loan before you apply.

A better way to apply

Why spend the time and the money driving from dealer to dealer when you can fill out an application online? Simply visit AutoNet Financial to begin the loan process. Our application is SSL secured to safeguard your privacy and we are an accredited business with the Better Business Bureau. Our address, along with our toll free number, is listed at the bottom of every web page. So if you think you’re ready to begin a new chapter in your credit history, go to www.autonetfinancial.com and get the ball rolling.