Why do savvy consumers choose eloan auto loans over other types of financing options? An even better question is why more consumers don’t choose eloans over the more traditional brick and mortar financing sources? Given the options available today, with so many companies offering financing at the click of a mouse, it just makes good sense to consider eloan financing for your next vehicle purchase.
In the “good old days,” someone who was shopping for a vehicle had only a couple of options when it came to financing. They could go to a dealership and take whatever was offered there. Dealerships generally have a few financing options, but on the whole they tend to be limited in the types and ranges of financing they make available to their customers.
Another “good old days” type of financing involved a person going to his or her bank or credit union and applying for a loan. This is still a great option for many, especially for those who have already established a positive ongoing relationship with a particular banking institution. If you know your banker well, and your banker knows you, it’s often quite easy to get a loan for a vehicle purchase. But with today’s giant banks, the de-personalization of banking has meant that lots of people (especially those with credit challenges) are uncomfortable contacting their banks. And often for good reason. As a result RoadLoans has accepted the opportunity to align itself with the needs of customers.
Today’s smart consumers will often opt for “eloan” auto loans because they tend to provide the instant gratification we have all come to expect from online services. Instead of putting in an application and waiting for hours or even days, eloan lenders tend to provide virtually instant responses to eloan applications.
Generally, an eloan begins with a simple Web-based form. The consumer will enter in his or her personal information, provide credit references and agree to a credit check. He or she will also share data about employment, home ownership or rental status, and other financial obligations. Most eloan companies use automated approval mechanisms to respond immediately to customer applications, day or night, weekdays or weekends. Some involve “real people” at some point to make sure that the auto-script produced the “right” answer. Either way, a customer who applies for an auto title loan, or car loan through an online lender will generally get an answer within seconds or minutes. The core reason behind the success of Santander Consumer and RoadLoans has been a firm commitment to customer service regardless of the medium. RoadLoans is the Internet auto lending leader for a reason and moving forward RoadLoans will continue embracing the fast paced world of eloans.
The Internet has made many things in our lives faster, more convenient and easier to accomplish. Lots of Americans are becoming more comfortable doing lots of their business this way, and auto financing is no exception. If you’re getting ready to buy a car, give eloan auto loans a try and see how different your experience can be.Written by: