Car and AutoLoans
Your "Web Wizard" Guide to the Online AutoLoan Sites

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Increasingly, it is possible to walk into a dealership knowing you are going to be able to beat any rate they throw on the table. Having done your homework and having shopped for the best available auto loan rate allows you to go to the dealership to buy a car... not to bank. Buying a car with pre-arranged financing can make things much easier on the showroom floor. Using an online Auto Loan quote site can help you do that. The basic way these sites work is that you complete an online loan application providing information about yourself together with the make and model of car you wish to purchse. The site then sends your quote request to various lenders where they submit their best available rate. After reviewing the responses, you may follow-up with whichever lender you choose. Auto Loans have become commodities as of late, with the day of your local banker handling your car loan a thing of the past. The best way to insure you are getting the best available car loan rate and terms is to apply online and let the banks compete for your loan.

Wizard Picks: While there are numerous sites offering auto loan rate quotes, the wizard urges caution since your most sensitive personal financial data is often submitted when applying for a loan. It is vital to know how that information is going to be used and protected. Below is a list of the Wizard's Picks of the best and safest sites to get car insurance quotes along with a short synopsis of each:

My Auto Loan Our Rating

BEST OF THE BEST! My Auto Loan offers a complete suite of tools to not only educate you, but to help you through the entire process of applying for a car loan online. We love their easy online application process, and even better is the fact that all responses from lenders are posted on their page. No follow-up phone solicitations! All you have to do is tell them about yourself and the car you wish to buy... wait anywhere from minutes to 24 hours and you will be able to log-in and compare auto financing offers from up to four lenders.

Automotive.com Our Rating: Fairly similar to MyAutoLoan above, Automotive.com also caters to the buyer seeking financing on a car who has bad credit. They offer loan across the entire spectrum of borrowers. The site requires some basic information from the visitor, then details are distributed to lenders to make offers on your car loan. Results are posted quickly and you can review them online. No guarantee you won't be contacted by phone, but overall a fairly simple and pain-free way to compare quotes on auto loans online.

Car Loan Provider Our Rating: Car Loan Provider is an online site that collects applcation information and distributes it to interested lenders. We tried it and found that the quality of quotes seemed better than some others. It isn't a big, fancy site.. but they apparently have some very good connections to lenders. We started receiving quotes in less than an hour and in our informal survey, found the lowest rate offered from a lender participating with Car Loan Provider.

DriverLoans.com Our Rating: It doesn't get any quicker or easier to apply for an online loan than at DriverLoans.com. The 60 seconds they claim it takes might be reserved for the quicker typists, but we'll say 3 minutes max. Your information is forwarded to various lenders who in return make offers on car financing rates. They have been around for awhile without problems as far as we can tell.

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