HOW CAR DEALERS AND OTHER CAR LOAN WEB SITES COST YOU MONEY


    The World Wide Web and it's numerous search engines contain literally thousands of web sites who Promise &/or Guarantee Car Loan Approvals. In addition, most New &/or Used Car Dealers have agreements set up with various lending institutions to assist you in financing your vehicle purchase. The bottom line is that once you  "HAND OVER CONTROL" of your car loan to a third party (i.e. Car Dealers and other Web Sites...the Middlemen) you "LOOSE CONTROL" of the Interest Rate, Loan Term and Dollar Amount to be Financed. Control of Your Auto Loan &/or Associated Automotive Related Products is the "KEY COMPONENT" to receiving the Best Loan Terms &/or Prices Available. To stay in control, you must have Direct Lender Access & Direct Automotive Product/Service Access.


CAR DEALER'S "BAG OF NASTY TRICKS"

    There are an Unlimited Number of ways Car Dealers/Middlemen COST YOU MONEY when they obtain your car loan &/or associated automotive products/services. Do not be fooled or mislead into thinking that the Dealer is merely Helping You for Your Convenience. CAR DEALERS/MIDDLEMEN DO LITTLE TO NOTHING THAT DOES NOT MAKE THEM A PROFIT IN ONE WAY, SHAPE OR FORM! The following information contains some of the most common ways (i.e. "Nasty Tricks") in which Car Dealers ultimately Make Money by Costing You Money.

INTEREST RATE MARK-UPS
    An Interest Rate Mark-Up is exactly what is implies. When a Car Dealer/Middleman obtains a car loan for you, they are usually allowed to Mark-Up your Interest Rate. The reason they do this is simply PROFIT! To explain his occurrence in greater detail, you must first understand that the Dealer/Middleman OWNS YOUR LOAN and then SELLS IT to the lender they have you approved with. The Dealer/Middleman are allowed to Mark-Up your interest rate and KEEP THE DIFFERENCE AS PROFIT.

OFFERING TO MATCH YOUR INTEREST RATE OR BEAT IT BY LESS THAN 2%
    Matching the interest rate you are offered from one of the Recommended Lenders contained in this web site is pointless. You already have all of your car loan documents completed and the Dealer/Middleman &/or Other Web Site will only increase the number of credit inquiries contained on your credit bureau. Those inquiries stay on your credit bureau reports for as long as Two Years and could have a negative effect on your credit score or be an area of concern to lenders in the future. In addition, You will Give-Up Control of Your Car Loan which Opens-The-Door for the Dealer/Middleman to find Additional Ways to Profit from Your Transaction (i.e. Ultimately, costing you money!).

EXTENDING/LENGTHENING YOUR LOAN TERM TO OBTAIN YOUR DESIRED PAYMENT
    Extending/Lengthening your Loan Term is one of the most common "Tricks" used by Car Dealers/Middlemen to obtain the car loan payment you have specified. Rather than Reducing the Price of the Vehicle &/or Associated Products/Services to achieve the payment amount, they simply Extended/Lengthened your Car Loan's Term by Months or even Years. As a result, You Can &/or Will Pay Hundreds to Thousands of Dollars More in Interest for the Vehicle and the Products/Services you have chosen.

INTEREST RATE BUY-DOWNS
    If a Dealer claims to offer a Special Interest Rate Loan that is not available to every other Dealer (i.e. If they are a Ford Dealer, all other Ford Dealers...if a Toyota Dealer, all other Toyota Dealers.) in their region, this Individual Dealer is Tricking you with an Interest Rate "Buy Down". An interest rate "Buy Down" is when the Dealer arranges an agreement with a specific lender to pay the lender the difference between the regular/standard interest rate of your car loan and the interest rate the Dealer is offering as a Special Interest Rate. The Dealer simply Adds this Amount to the Price of the Vehicle You are Buying. As a result, You Pay the Cost of Your Own Special Interest Rate!

CONTROL YOUR FINANCING TO RETAIN/HOLD THEIR HIGH OR EXCESSIVE SALES PRICE
    There are several disadvantages to giving the Dealer/Middlemen Control of your car loan. The first and foremost reason the Dealer/Middleman want to control the financing of your vehicle is to Retain the Price You are being Charged for the Vehicle. If the Sales Price of the vehicle is Too High, the lender will usually tell you the Maximum Approvable Amount for that specific vehicle. That is valuable information for You, the consumer. The Dealer/Middleman will not tell you that their Price is Too High. Instead, they will Require You to put Money Down and Insist that the Lender is Making this Requirement. On the other hand, if the Dealer/Middleman does reduce the sale price to the maximum approvable amount for that specific vehicle, they will often try to regain the dollar amount by Increasing Your Car Loan's Interest Rate or Marking Up the price of any additional Product/Service (i.e. Extended Warranty/Service Contract or GAP/Debt Cancellation Policy, etc.) you choose to purchase.

PRICE INCREASES ON EXTENDED WARRANTY/SERVICE CONTRACTS AND GAP/DEBT CANCELLATION POLICIES
    The main reason Dealers/Middlemen offer/sell Extended Warranty/Service Contracts and GAP/Debt Cancellation Policies is to generate a Profit. The Dealer/Middleman buy the products at a specific cost and then Mark-Up the Price when Selling them to You. Most generally, the Minimum Price Mark-Up is $100.00 but can be as much as 100% and even 300% of the actual contract/policy cost.

FORCED &/OR ASSUMED SALES OF ADDITIONAL PRODUCTS OR SERVICES
    Forced or Assumed Sales of Additional Products/Services is a Common Practice of Car Dealers/Middlemen. In most cases, You are quoted a car loan payment with the price of these product &/or service added into your loan amount. The Dealer/Middleman is hoping that the Payment Amount is Acceptable to you; thereby, securing the Sale of the Vehicle along with the Additional Products/Services that have been added. The end result is Additional Profit for the Dealer/Middleman at Your Expense.

"SHOT-GUNNING" YOUR CREDIT APPLICATON
    "Shot-Gunning" your Credit Application occurs when the Car Dealer/Middleman sends your Loan Application to Six, sometimes Twelve or more, Lenders. The most common reason for doing this is to Obtain a Car Loan for the Highest Dollar Amount with the Lowest Interest Rate. The car loan with the Highest Dollar Amount allows them to Charge You the Largest Sales Price for the Vehicle and the Lowest Interest Rate allows them to Mark-Up the Rate and Keep the Difference as Additional Profit. In addition, your Credit Bureau Report will now contain several more Credit Inquiries that can stay on it for up to Two Years.

BALLOON PAYMENT CAR LOANS
    A Balloon Payment Car Loan is a loan who's Last Payment is Several Thousand Dollars. In other words, you are required to make the regular payment amount until the very last payment. These car loans are not very common but yet do exist. The Car Dealer/Middleman will obtain this type of loan for you if they are trying to achieve the Car Loan Payment Amount you have requested. The Dealer/Middleman instruct you to Refinance the Vehicle when your Last Payment is due. Unfortunately, the Balloon Payment (i.e. the very last payment) is Rarely Set at an Amount that is Equal-To or Less-Than the Vehicle's Loan Value at that point in time. As a result, You are Unable to Pay &/or Refinance the Full Balloon Payment (i.e. Last Payment) Amount.

SPECIAL/TEASER RATES WITH SHORT TERM LOANS ON SELECTED MAKES &/OR MODELS
     Quite frequently, the consumer must "Read The Fine Print" that accompanies these Special Car Loan Offers. The vast majority of these Car Loans require Terms of 36 Months or Less, a Large Down Payment, a Very Good Credit History with a High Credit Bureau Score and are Only Available on Specific Make/Model Vehicles. These Special Offers may look &/or sound wonderful at first but become unrealistic upon further investigation of their requirements.
 
INCORRECTLY/IMPROPERLY SUBMITTING YOUR CREDIT APPLICATION INFORMATION TO THE LENDER
    There are several reasons why the Dealer/Middleman would manipulate your information. Ultimately, their primary concern is to SECURE THEIR SALE! If the information contained in your Car Loan Application is not correct, it could be viewed as BANK FRAUD. The lender has the LEGAL RIGHT to pursue CIVIL &/or CRIMINAL actions against both YOU and the DEALER/MIDDLEMAN.

ANY COMBINATION OF THE ABOVE "NASTY TRICKS"
    Car Dealers/Middlemen Can &/or Will Combine Several of the Above "Nasty Tricks" to Make Money by Costing You Money. The Car Loan Professor ELIMINATES the "Middlemen" by providing you with FREE Direct Lender & Associated Product/Service Access 24-Hours a Day, 7-Days a Week.


OTHER CAR LOAN WEB-SITES

    In general terms, most car loan web sites are Solely Interested in Gathering Your Information for Re-Sale to one or more third party vendor (i.e. car dealers, marketing list operations/companies, etc.). This is about as close as you can get to being thrown into a "Pool of Sharks in a Feeding Frenzy" as you can get without actually being there! Do not be fooled by a web site's "99% Approval Rate" or "Promises/Guarantees" of Car Loan Approval. You will discover that the vast majority of these web sites are simply "Middlemen". Much like Car Dealers, they can also Profit by using one or more of the "Nasty Tricks" listed above.

    If you are Entering Your Personal Information on Any Web Site other than a LENDER'S OWN WEB SITE, You are Handing Over Control of Your Car Loan to a Third Party. Again, the Primary Interest of these Web Sites is to PROFIT FROM THE SALE OF YOUR PERSONAL INFORMATION.

    Only the most extreme/hardest credit situations will require the assistance of a third party to secure an individual's car loan &/or associated products/services. The vast majority of consumers are able to Fulfill their Automotive Lending Needs with The Car Loan Professor's "Direct Access Links" to Automotive Lenders and Associated Product/Service Providers.


SUMMARY

    Knowledge and Control are the "Key Components" to Obtaining some of the Most Competitive Automobile Loans and Associated Products/Services available in Today's Market Place. The Car Loan Professor provides you with "Both Key Components" to Help You Help Yourself! All in One Convenient Location with No Cost or Obligation and Available to You 24 Hours a Day, 7 Days a Week.

CONGRATULATIONS !
You Have Completed This Section.

Continue To One Of The Next Sections:


(Click) "AVOIDING THE MIDDLEMAN'S MARK-UP"

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Obtain One of the Most Competitive Car Loans Available in Today's Market Place:

(Click) "STEP 2) DIRECT LENDER ACCESS"

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Obtain Some of the Most Competitive Automotive Products &/or Services:

(Click) "CAR INSURANCE & MORE"


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