More and more often, Americans skip a trip to the bank and head straight to local, independent dealers when they wish to buy a car. Dealers who arrange for financing on site typically work with companies like Consumer Portfolio Services that provide the capital they need.
A car shopper who makes use of this type of financing will end up working with the lender, even when the dealer was the one to sign and hand over the loan paperwork. Fortunately, indirect automotive lenders have many ways to help borrowers keep up with their obligations.
One Trip to a Website Makes It Easy to Manage a Loan
It used to be the norm for most or all borrowing-related activity to require the use of paperwork and hard copies of documents. Those bad old days have long since receded into the past, and this is true for the kinds of loans enabled by indirect automotive lenders, too.
The easiest way for a borrower who works with a “buy here, pay here” dealer to manage a loan will normally be to head online. Indirect lenders now generally maintain websites where borrowers can see to matters like:
- Statements. Issuers of installment loans normally prepare regular statements that provide borrowers with a summary of the situation at the time. While most loan statements will necessarily seem routine, making sure to scan them as they become available is always important. Instead of needing to have statements delivered by mail, borrowers today can typically opt to have them made available in electronic form. That will make it easy to review car loan statements whenever free time becomes available, even using a mobile device.
- Payments. The most important duty of every borrower is to keep making payments as and when agreed. Keeping current on a loan tends to be easiest for those who pay online using any of the available methods. Simply registering a checking account with the company that services a loan will often even allow future payments to be made automatically.
Keeping Up With Car Loans Has Never Been Easier
Being able to stay on top of issues like these with a simple visit to a website will always make life a little easier. Indirect automotive lenders have done a great job of making things simpler for borrowers.