URGENT: Get Approved By End of Year It’s expected that year-end clearance sales after Christmas will create a higher demand for financing, along with higher interest rates and more strict approval guidelines in 2017.
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Auto Loan Application Tips

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If you have bad credit and go on the internet to apply for an auto loan, there are a few things you should be aware of. First and foremost, you should know that you are in the driver's seat. There are dealers across the country who will want to compete to sell you a car.

Tips for Applying for an Auto Loan

Ten years ago, few people had bad credit, and only a handful of reputable dealers catered to people with bad credit. Today, thousands of dealers are able to help consumers with credit problems. Due to the increase in demand, both from consumers with bad credit trying to buy a car and from dealers competing for extra sales, a new middle man has arisen, the internet marketer.

How can you tell if you're dealing with a Brick and Mortar Company or an Internet Marketer?

Auto Loan Application Tips Rule Number One
If you give something up, expect something back. Consider it online bargaining in real time on the website you are visiting. What are you giving up? Your name, your social security number, your date of birth, and/or your monthly income? Before you give up your personal information, what should you expect?

The Truth
  • How much can you borrow?
  • What are the rules?
  • Can you finance a vehicle through a private purchase?
  • Does the site have a toll free phone number with a live operator during normal business hours?

Rule Number Two
Who owns the website?
  • To find out who owns the website, visit a domain registrar such as:
    1. http://www.networksolutions.com
    2. http://www.register.com
    3. http://www.godaddy.com.
  • On any of these sites, look for a link titled WHOIS (pronounced "Who Is," in other words, "Who is the web site owner?" )
  • After clicking the WHOIS link, enter the site domain and you should find the website's owner information.

How to Find the Website Owner Auto Loan Application Tips
If you have bad credit and need an auto loan you may visit Yahoo! and search for bad credit car loans.

On the search engine results page there are four sponsored ads displayed at the top of the page:
  • ModernAutoCredit.com
    All Bad Credit Customers Approved. Instant Loans.
  • EncoreAutoLoans.com
    99% Bad Credit Applicants Approved.
  • FundingWay.com
    Qualify for up to $25,000. Same day Approvals. No Money Down options.
  • DriversAutoLoan.com
    Bad credit auto loan specialists. 100% accepted.
These are some pretty strong claims. All Approved, 99% Approved, 100% Accepted. Who owns these sites? To find out, visit one of the registrars mentioned above and look for the WHOIS link.
Website       Registered To
ModernAutoCredit.com Domains by Proxy
EncoreAutoLoans.com Domains by Proxy
FundingWay.com AceiNet Inc.
DriversAutoLoan.com Domains by Proxy

Who is Domains by Proxy? According to the WHOIS lookup, three of the top four websites are owned by Domains by Proxy. Who is Domains by Proxy? Visit their site and you will see. First and foremost, their slogan is "Your identity is nobody's business but ours".

Why would a site owner want to hide their identity? How can you contact them? According to the Domains by Proxy website, you have to Subpoena them before they give out information concerning site owners.

What this means is, you cannot find out who owns the sites. You really have to ask yourself: "What are they trying to hide?" "Why don't they want anyone to know who they are?" and "Do I really want to give my personal information to someone who won't tell me who they are?"

Rule Number Three
Trust third party results.

The last step in the process is to visit a trusted authority such as the Better Business Bureau or Ranking.com.

Website What you get before your give your personal information How to Contact the Website Trust Rank
FundingWay.com An Estimate of what you can borrow.
A Toll Free Number: 888.535.2277.
A Live Operator to Answer Questions
Toll Free Number: 888.535.2277, Better Business Bureau
7
ModernAutoCredit.com Nothing Blind Web Form
0
EncoreAutoLoans.com Nothing Blind Web Form
1
DriversAutoLoan.com Nothing Blind Web Form
1

Follow these simple rules before you turn your personal information over to just anyone. Make sure:

  1. They let you know what you can expect - what are the rules? How much can you borrow? Is there a live operator you can talk to if you have questions?
  2. Who owns the website - are they upfront or do they have something to hide?
  3. Get third party validation.

Do these things and you are more likely to eliminate hassles and disappointment. Also, remember to never put your personal information in the hands of someone you don't trust.

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