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What You Need To Know About Taking Out An Auto Loan

auto loan

What is an auto loan?

An auto loan allows you to make monthly payments over a set period of time instead of paying for your vehicle all at once. In exchange, you pay interest on the loan and the vehicle is used as collateral or insurance. If you fail to make the monthly payments the lender takes back the car. When that happens your credit score takes a big hit.

You can get an auto loan through banks, credit unions, car dealerships (known as in-house financing), or through a company such as RIDES that specializes in auto loans, especially for people who have bad credit.

If the thought of physically going into a bank, credit union, or car dealership and applying for a loan in person fills you with dread or uncertainty, you have landed in the right place. At RIDES, we do all the work to get you financed and then send you to a dealership pre-approved for a loan.

Why is “pre-approval important”?

Being pre-approved for a car loan means the dealer will not say no to you. This has many advantages for you, the customer. It takes away the stress of uncertainty and allows you to concentrate fully on negotiating with the dealer to get you the best terms possible on your auto loan.

All you have to do is APPLY here. It takes less than 3 minutes to answer some questions, allowing us to calculate the best rate and loan amount. All you have to do next is go shopping for a car knowing the financing is already taken care of.

Getting an auto loan doesn’t get easier than this.

 

 

 

Get approved with

flexible payment options.

Apply now