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Mick Ronson AutoLoans.com 800-609-1716 |
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The site has published a new feature on its homepage enumerating the myriad benefits of third-party online auto loans over the traditional auto loans offered by credit unions. On average, online car loans offer superior rates and faster service, according to the site’s latest statistical analysis.
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Online PR News – 30-December-2011 –AutoLoans.com, a site dedicated to providing no-cost quotes on online vehicle financing, has posted a new piece detailing the advantages of an independent online auto loan to a loan obtained from a local credit union. Affordability, speed, and convenience are among the benefits of online auto financing the site lists.
“Financial experts often extol the virtues of a credit union auto loan, which they claim is typically superior to an online loan or a loan from a traditional bank. While it is true that credit unions often offer more competitive rates on auto loans than traditional, for-profit banks, it does not necessarily follow that they will be as competitive as the rates independent online lenders can offer. Online companies do not have the overhead that credit unions do, and they are often more tolerant of applicants with credit challenges,” explained Mick Ronson, spokesman for Auto Loans.
The site’s new piece points out that potential borrowers cannot simply walk into a credit union and apply for a loan. Rather, they must become a member of the institution, which typically means certain geographic and/or professional prerequisites, and they must establish an account with the credit union. In most cases, credit unions require the establishment of a saving account before they will consider an applicant for an auto loan.
“Credit unions can offer very affordable rates; there’s no question about that. Where they fall short relative to online lenders like those in our network, however, is in speed and convenience. Our lenders don’t require borrowers to set up another account with them in order to borrow, nor do they require lengthy membership and other paperwork before the loan approval process can even begin. Online auto loans are quick, inexpensive, and convenient, and that’s why we urge any potential borrower considering a credit union loan to explore online options first,” said Mr. Ronson.
AutoLoans.com
AutoLoans.com specializes in pairing consumers with first-class lenders. We strive to be your ultimate auto loan resource.
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