This month, I learned something very interesting about the car loan/car buying process. In recent years, there has been a major shift in how people now go about shopping for a new vehicle. Nowadays, a large percentage of individuals rely on the internet for many steps pertaining to the car buying process.
While it comes as no surprise that most people these days perform the majority of their research as well as shopping online - these actions now extend to car shopping as well. You would be blown away to find out that many individuals don’t even step foot on the dealership lot in certain cases!
Some surveys are finding that around 45% of people expect to buy their next car online…that’s staggering!
In order to keep up, it seems many auto dealers are fine-tuning their online car purchasing services to cater to these online-only buying trends. The Millennial generation may be the largest group that wants to take advantage of these services, as they were the ones who mostly grew up with the constant presence of computers and the internet for most of this time as well. While this last point may not be new news to you, it may make buying a car online a more realistic option while saving a lot of time in the process.
Now, you may find that the best place to start is to take to the internet and research the variety of vehicles that may interest you the most. This step will help you narrow down your top vehicle contenders, as well as compare some different models, features, and of course - pricing.
While dealers are also focusing their efforts on online car buyers - they will also recommend that potential drivers still visit the lots and test drive some vehicles. Driving these cars can really make a huge difference in helping you narrow down your list even further after you have performed your initial online search.
It is still important to get a feel for how different cars handle - and then make your decisions to factor in these insights as well. While you may have originally had 4 or 5 vehicles on your short list – you can reduce this list even further - down to 2 models after test driving each vehicle.
Following the test driving phase, get back onto the internet. By shopping online for cars, you may also find a larger selection of vehicles and comparable prices that you might find if you are only searching on the dealership lot. In fact, you might just find some more competitive prices through this search versus visiting the dealer in person.
By seeing these prices online, prior to buying your new car, you’ll be given another chance to review your finances and determine what vehicles and financing options may be the most reasonable. This will then prepare you for the next step - applying for a car loan.
Again, isn’t it wonderful that you can apply for your loan without even having to step foot in a bank or a dealership? If you are looking for auto loans with more options - it may be that online is the best way to compare many loans at one time. Once you have found a favourable price range, you can then hop back online and apply for your loan. You can apply directly from the site you have identified as your top company loan facilitator or lender.
So far this year, over 300,000 people have chosen Canada Drives as their preferred car loan service. We provide an easy to follow car loan application and in only a few steps, you can find out the information you want to know about what car loans and vehicles are available to you.
Additionally, having poor credit should not prevent you from obtaining a car loan, as Canada Drives’ number one goal is to help individuals in similar financial situations. We help individuals across Canada secure the car loans they need - regardless of the confinements of their current credit situation.
Thanks to the new and improved online car loan applications, you can easily access Canada Drives directly from the internet, apply online and move even closer towards securing your car loan financing.
Hundreds of people have saved so much time preparing for the car buying process by examine all of the online opportunities at their disposal. If you want to take that next step and finally buy your next - or first car, take advantage of the new wave of online car buying. I’m sure it’s only bound to get easier and easier as time goes on…