If you’re in the market for a new or pre-owned vehicle, you probably plan to finance your purchase with a car loan. Most people don’t have thousands of dollars saved up to pay cash for a vehicle. Even those who do have the money to pay cash often decide to hold on to their cash and take out a car loan instead. The first step in qualifying for a car loan is to fill out a credit application. Many car dealers offer the option to fill out car credit applications online. That’s definitely convenient, but is it safe?
Pros of an Online Car Dealership Credit Application
Obviously the biggest draw of filling out a credit application on a dealership’s website as opposed to filling it out on paper is convenience. With an online credit application, you can key in your information, then hit send to push it directly to the finance department. There is no need to drive to the dealership and fill out an application in person.
Besides convenience, another major benefit of filling out your auto loan application online is you will not feel pressured by a finance person. For many people, buying a car is stressful. They second guess their decisions and are prone to peer pressure. If you worry you might be susceptible to outside influences trying to get you to buy a car you do not really want or cannot really afford, an online application removes the peer-pressure factor.
Cons of Online Applications
The Internet is an amazing tool that has revolutionized the way people live their lives. It saves time and makes it easy to communicate with people and conduct research. It also is notorious for attracting cyber criminals who are intent on stealing people’s sensitive data and using it to commit identity theft. What many people don’t realize is paper applications are just as vulnerable to identity theft. In fact, paper applications may be more vulnerable. Businesses are well aware of the threat of cyber crime. Reputable businesses, including car dealers, invest in sophisticated encryption technologies and firewalls to ensure their customers’ data is completely safe when transmitted online. There are many recent news stories about businesses failing to properly dispose of their customers’ paper records, and those records were stolen by criminals.
Work With a Car Dealer You Trust
If you are considering buying a pre-owned vehicle from DeBoer’s Auto Sales & Service, you can be certain we take your privacy and security seriously. You can rest assured submitting an auto loan application through our website is as secure as possible. Without our customers, we would not be in business. We have every motivation to protect your data. If you have any questions or concerns about the safety of online auto loans, we encourage you to contact us!
