Benefits of Buying your Car from an Auto Loan Provider

how much should you put down on a car
By Michael Dalton

If you have had to shop for a car as well as try to secure a car loan at the same time, you know the combined process can be frustrating. Nobody likes a life of stress, which is why ways to reduce or even eliminate the stress associated with life.

This makes us wonder if there is any way to shop for a car and get a car loan conveniently. Of course, there is. You can get a car loan approval and purchase your vehicle at the same location. Read on to find the advantages of such an arrangement and why you might want to opt for it when getting your next ride.

Everything in one place.

Sometimes back, you had to buy meat from the butchery, vegetables and fruits from the vegetable market, bread from the bakery, and so on. These days, grocery stores bring everything together into one place, and we can all attest to how helpful this has been. It’s not just convenient for shoppers, and it also saves time.

Bringing the sales of cars and their financing together in the same place is, in many ways, similar to the grocery store. So, are we expected to derive similar benefits from a combined car sales and car loan agency as we get from buying in grocery stores? We’ll find out.

Saves time

Shopping for a car will always remain time-consuming process, and here are the main reasons why it is inevitably so.

Loans

There’s a lot of time involved in securing a loan, from the preparation of the required documents to the filling of application forms to submission and waiting for the process that leads to loan approval (or disapproval). All of these steps would even take a longer time if you’re not familiar with the process and have to ask questions now and then. You might even realize along the line that you have failed to prepare a required document. Then there is your credit history, which can also make the process tougher than it already is. Bad credit history will, in most cases, cause the lender to spend even more time scrutinizing your loan application.

Cars

Thinking about the process, you may feel that finding the right vehicle should not take a long time. Experience teaches otherwise. It usually begins after your car loan is approved, and you’re now faced with a credit constraint. You can no longer buy your choice vehicle because the loan approved is less than what you had planned for. Now you have to look around to find a car whose price is within your means and still suits your style. If you do not find the type you like, you might have to go to another dealership. This will most likely be a long journey because car dealerships are not located close to each other. You might end up spending many days, traveling from place to place, just to find the right car at an affordable price.
The process goes smoother

You also can save a lot of time and avoid the hassles that come with buying a new or used car. This is particularly so if you get your car loan at the same place where you buy the actual vehicle. Similar to the modern way of getting your foodstuffs from one grocery store as opposed to the traditional way.

The need to journey from one place to another in search of an affordable car is eliminated, and there is less reason for your loan approval to be delayed because the car sales associates will make sure that you have all the paperwork required to have your loan application hastened. After all, they’ll be making a profit from car sales. On the whole, it can be a rewarding experience that you would want to have again and again.

Streamlined approval

You get a more streamlined approval of your car loan when you buy a car in the same place where you are also getting the loan. You will have less to worry about because the company will help you put together a strong application for credit. Since that is what these salespeople do almost every day, allowing them to take you through the process is a wise thing to do. You will spend less time waiting, and that will reduce your anxiety, making the car purchase an enjoyable process.

Motivation for approval

Buying a car from the same place you get the car loan dramatically increases the likelihood that the loan will be approved. This is because car dealerships will do whatever it takes to ensure you get a car while following laws and regulations. They will also see to it that you get the best car possible to earn your further patronage. This includes doing everything possible to make your car loan get approval. Of course, this kind of motivation will not exist if you go directly to a lender like a bank or credit union. Buying your car where you get the loan usually means that the company has affiliate lenders who will be committed to encouraging the car buyers by giving loans with less hassle even when your credit history is not that good.

Additional resources

Places that sell cars and arrange for financing usually have access to resources that is not open to the public.

Some car dealerships and retailers have access to special lenders that are only accessible when you get loans from the place you buy your car. This is another reason to opt for car dealerships to also help you get the loan. You would be even surprised at how suited the loan you get from these exclusive lenders can be. Then car companies can leverage their previous relationship with the lenders to get approval for a loan where it would have been, otherwise, difficult.

In summary, there is much to gain from buying your car in the same place you get your car loan. There’s a significant saving of time, less hassle. Furthermore, the chances that you won’t get turned down for a loan become higher. It’s a great way to avoid the disappointment and feeling of loss that comes with a failed endeavor. Car shopping is, no doubt, a lengthy and draining process. Therefore, it is beneficial to use as many tools as are available to ease and hasten it.

Our experts here at Hayden auto agency will also help hasten the process for you. They have on hand auto providers whom they call on and in a matter of minutes, you have a deal. To enlist their services, kindly talk to meet with one of our experts below.

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