Do All Dealers Accept Online Auto Loans?

The short answer is that all dealers accept money. If you take advantage of the lower rates and all-around better deals available in broker car finance instead of getting a loan through a dealership, the dealer doesn’t really care where the financing comes from.

In the end, your lender will write a check to the car dealership. The dealer, at any point, has the right to refuse, but why would a dealer turn down money? Like I said, all dealers accept money, and they don’t particularly care where it comes from. But let’s back up a bit and talk about the process that leads to your lender paying your car dealer.

Step 1: CarDealExpert finds you a lender

To start off the process of getting an online loan, it is best to first find out how much money you will be able to borrow. After that, you can start considering which car you want. So first, fill out an application for a pre-approved loan through CarDealExpert.

We work with a large pool of leading online PCP and HP car finance companies. We will find the best lender for your situation, taking into account how much you want to borrow and your credit score.

Step 2: Get documentation of your pre-approved loan

Once CarDealExpert finds the best lender for you based on the information you give us, your lender will tell you how much you can borrow. Get documentation from your lender saying how much money you have been approved to borrow.

That way, when you go car shopping, you can show the dealer your pre-approved loan amount. That will help you find a car in your price range and probably keep the dealer from trying to upsell you. A car salesman isn’t going to try to talk you into buying a $12,000 car when you have only been pre-approved for a $10,000 loan.

Step 3: Bill of sale

After you have found the car you want, it’s time for your lender and your dealer to do some business. The dealer will present a bill to your lender saying the full price and all of the details about the car. The car is the collateral that the lender has against your loan, so the lender will decide whether they are willing to lend the approved amount for that particular piece of collateral.

If the lender agrees, the dealer will agree to take the lender’s money. So the dealer isn’t really “accepting an online auto loan,” the dealer is just taking a bunch of cash. Thus, the dealer is out of the picture from that point on. After that, all you have to do is drive off in your car and follow the payment plan you set up with your lender.