In addition to offering a selection of the lowest quotes available, the service can save consumers money by altering the way that they look for bad credit auto loans. The site is pushing the “finance now, buy later” approach whereby consumers use CarLoansLocal to find and compare vehicle financing before starting the search for their next car. Research by the site has shown that consumers are more likely to overspend or under-budget for the total price of their new car if they wait to finance at the dealership or look for their ideal car without having done the necessary math first.
The site also offers useful calculation tools. By using CarLoansLocal and its various free auto loan calculators, consumers can calculate the total monthly payments for their car loans as a means of comparison as well as responsible borrowing. The site features calculators that inform consumers of various aspects of their loan, including total term, total interest paid and annual percentage rates.
A spokesperson for CarLoansLocal.com made the announcement of the launch in the following statement that was released to the press.
“We are delighted to launch our new moneysaver service to the American public. The search for that ideal car loan doesn’t have to take you all across town on a wild goose chase, looking for that elusive deal. Our service takes the local search online, and can show you instant quotes from leading bad credit lenders. As consumers can look online, there is no worry of dealing with pushy sales tactics of dealerships or being pressed into an 11th hour contract that is not affordable. Use our auto loan calculators to make sure the price is right before saying yes.”
The site’s quote service is free to use without any obligation to accept any car loan offer that may be made. On the topic of why it is better to search for an auto loan before searching for a car, the statement continued, “We have deduced though analysis of our consumers’ spending habits that they will almost always stick to their budget if they have the financing in place before shopping for their next car. A great loan and a sturdy budget can really help consumers to save money.”
To learn more or get free quotes, visit: http://www.carloanslocal.com/