Here's an example of how to buy a car for less, perhaps saving thousands on your purchase. You can do this no matter where you're planning on buying your car.

A friend of mine told me about a creative way to save thousands of dollars when buying a car. First, he knew the car dealership would try to know more about his credit report than he did, and they would exploit that advantage. So, he got his credit report online, and applied to an online loan company for an appropriate amount for the car to be purchased. Now, when he sat at the dealership, he was a cash buyer, holding a blank check from the credit company, and he had already arranged for the best possible financing. He had researched the lowest bid for this type of car online, and he presented the dealership with that information, along with the promise that if they'd save him a little money, he'd be happy to purchase from them, if not, he had a good offer elsewhere. The salesman excused himself to speak with the sales manager, and a few minutes later my friend got his car at a great bargain, with payments at a rate he'd shopped around for. That's a bit of creative car financing!

If you're ready to shop around for a competitive creditor, on each side of this article are some good companies to get you started.

According to a study by CNW Market Research, approximately 63 percent of Internet users who are likely to purchase a new car would prefer to finance online rather than at a dealership, local bank or credit union.

But does the thought of shopping for a loan over the Internet make you a little timid? Do you question the security and reliability of the site? Or were you unaware that online financing was even available?

What Sets Online Lenders Apart?

While searching for auto loans has previously been limited to banks, credit unions or dealer financing, online banks tend to offer some good deals and allow you to research vehicle loans from your home or office with peace of mind. Since online lenders tend to offer lower rates and quicker approvals than banks, they're worth checking out.

As one of the first lenders to provide loans for new or used vehicles online, PeopleFirst.com offers a simple and secure application, a response within 15 minutes during business hours and competitive rates. You can further reduce your interest rate with PeopleFirst by choosing the automatic payment plan. Plus, the company goes one step further than pre-approval by giving you a Blank Check® that you use (up to your approved loan amount) to pay for your car, eliminating the time you would spend at the bank and reducing your time at the dealership.

While most consumers invest their time researching the vehicle they want to purchase, they often overlook all the financing options. Finding the best loan may not be as fun as test driving your new vehicle but with a little time, researching your financing options online can save you more time and money at the dealer.

Blank Check^® is a registered trademark of PeopleFirst Finance, LLC.

Know your Credit

Know your credit history before you apply for any loan so you can avoid any surprises and possible delays when you apply for financing. Correcting any errors or discrepancies on your report before you apply could result in a lower interest rate, saving you money.

You can order a copy of your report on the Internet or by phone from the three major consumer-reporting services.

Equifax:
www.equifax.com
800-997-2493

Experian:
www.experian.com
888-397-3742

Trans Union:
www.transunion.com
800-888-4213