Personalizing the Online Auto Loan Application: Fill in the Blank! (cont.)
Contributed by Alix Mcmurray
The "Oops" Feature of the Online Auto Loan Application
The option for anonymous fact-finding is more rare among online auto loan websites, so use caution. There are disclaimers on most of the online auto loan websites, stating that after you submit your application, the process can not be readily reversed. Even if you cancel within the first 24 hours after the application is submitted, you may be obliged to forfeit start-up costs and origination fees, even if you never intended to actually apply for the loan!
It is imperative not to submit an online application unless you are genuinely committed to doing so. Don't click on that "submit" button unless you really mean it!
Save the Best Blank for Last!
Lastly, you can personalize that auto loan by opting for the "blank check" form of funds distribution. You can have a blank check issued to you in the sum of the loan amount, and all you have to do is fill in the dealership name and date when you're ready to purchase. These checks have your name and address imprinted on them, such that they have the dignity and bargaining power of a personal check, but financing through a personalized loan agreement.
