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Applying for Financing Online: Guidelines and the Best Sites Reviewed
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Auto financing can be confusing. It can be hard to know where to get financing and what you should do before you apply. You may fear being rejected by lenders, but you can increase your chance of approval by clicking on the right websites. We give you tips on what to do before applying for a loan, and where to go. Our staff reviewed many online financing websites and we give you the most notable recommendations below.


Auto Financing is not exclusive to one particular credit type. Loans are available for all types of credit, and allow you the opportunity to get the car you want as soon as possible. Before you apply for a car loan, you should:

  • Look at Your Budget - Look at what you could realistically spend on a car, and what you could spend in repaying monthly payments.
  • Obtain Your Credit Score - Make sure your credit report is up to date, as well. Ensure old addresses and errors are fixed and/or removed previous to applying for financing.
  • Compare Rates - Start comparing different online auto loan rates and use car loan payment calculators (on this site). Loan/Lease Calculator
Increase Your Chances of Loan Approval

Maximize your chances of approval by following our tips below.

  • If you have recently graduated from college or university, ensure you have a stable job for at least six months prior to applying.
  • Make sure your credit card balances as low as possible, especially those with high interest rates before applying for an auto loan.
  • Haggle with creditors to get charge off's, late payments, other red flags off your credit report before applying
Applying Online

Online financing referral network is an excellent source for getting in touch with dealerships, and finding your financing options, without ever leaving your house. The best sites are always secure and work with dealerships that have been pre-selected for their ability to finance customer’s purchases. Each dealership within a referral network normally undergoes an in depth screening process by the company collecting your information, to ensure that you are in business with only the most qualified dealerships.

These are some thing should keep in mind when applying online:

  • Rapid Response - Expect a response within 6 business hours, as the company must prove to you that they want and can handle your business. If they take to long to respond, move on.
  • Good Quality Response - The site must get you in contact with a dealer in your area and give you the pricing and financing information you asked for, if not, you may need to find someone else. The salesperson should have competitive pricing; a varied inventory with different car makes, model, years and trims; and financing, lease and loan options to consider.
  • Financing and Loan - The salesperson in conjunction with the lender should get you financed with a low rate possible for you. They will also be able to answer any financing questions you have before buying the car.
  • Quick Credit Applications - Look for sites that offer quick and easy (under 60 second) applications. If they require more information, they will contact you, giving you the chance to speak to them.
  • Competitive Pricing - The salesperson’s pricing should be competitive as your research.
  • Secure Site -Look for a guaranteed secured site because you are giving your personal information that should be stored and used correctly. Look for a privacy policy and site that shows security as a high priority. The site must also be easy to use and that you can navigate through.
  • Adequate Responses to Your Inquiry - The salesperson should also be able to answer any other questions you have, including those on models, makes, trims, price, finance, rebates, lease v. loan etc. If they are not, they should follow-up relatively quickly. The answers should be relevant to your questions.
  • Clarify and Ask Questions - Numbers can become baffling, and it’s easy to get lost in the industry jargon. If you unsure of something ask questions, and get clarification. Be sure not to sign anything that you don’t understand.
Online Referral Sites Reviewed

Our staff explored the internet and found sites in both Canada and the U.S. that met our high standards. Canada is still a growing market, and our staff will continue to research the best finance referral sites and we will find more noteworthy sites, in both countries for our readers.

Recommended Sites in Canada:

Website Review This site had both the best financing articles and financing approval process. It was secure, and their “Smart App” fulfilled its guarantee of being quick, easy and friendly. We were contacted amazingly fast by a dealership, and our questions on price, and interest rates were answered thoroughly. This site also had a quick credit application, and we were contacted exceedingly fast by a car dealership close to us. Our financing needs were met, and the dealer followed up on our inquiries.We also found articles that gave us helpful information.

Recommended Sites in the US:

Website Review This site was easy to use, and delivers on its quick quote promise. Although they offer different types of loans, they allow a dealer to contact you with information and overall were able to satisfy our requirements. This site had immediate approval, and an online credit application that does not seem intimidating. It has online pricing, and is a secure site. It also is an established site for the last 10 years.

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