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| *Loan,banking and credit>>>bank loan |
Can I trust internet-based car loan sites or would my local bank be better? |
Can I trust internet-based car loan sites or would my local bank be better? Depends if the car you are buying is a big deal to you or not. Back when I was working in website consulting, we formed the opinion that websites worked best for uncomplex transactions where the buying decision is quite straightforward and doesn't have alot of factors influencing it. With a car it probably boils down to how much you intend to spend and then other factors will start to feature to a greater/lesser degree: 1. what you intend to use it for 2. effect of changes in gas price 3. effect of increases in loan interest rate 4. what type of insurance 5. is it a luxury toy or a run-around, etc, etc. Basically the more factors that play a part in influencing your decision to buy, the more complex your decision is becoming and hence the less likely it is to be satisfactorily addressed by a product/service offering from the internet. So, if its a $1000 run-around where you don't give a damn, take the cheap deal from the internet. If its a $200,000 supercar, then go speak to a real person in a bank to get the right deal. Banks are always better. They internet based sites are usually for people with credit problems. A credit union is the best place to get a loan. actually you can get a better deal with some online financing sites than your bank and you can compare several side by side all at once rather than dealing with some bank employee who cant be objective. You can get better rates online. I've heard of Costco members with stellar credit getting 4.9% at Capital One. Capital One, E-loan and HSBC may be less stringent when it comes to qualifying for a loan but their rates competitive and even superior to local banks and credit unions. |
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