Blog Auto Finance

How Technology Has Streamlined the Auto Loan Process

By Lightico Marketing Team

If you're in the market for a new car, you know that getting a loan can be a pain. You have to go from bank to bank, filling out application after application, just to see if you even qualify for a loan. Then, if you do qualify, you have to go through the entire process again with each bank. Thankfully, technology has made the auto loan process much easier. eForm tools allow lenders to prequalify borrowers online, and online auto loan applications make it easy for borrowers to apply for loans from the comfort of their own homes. So whether you're looking for a new or used car, make sure to check out the latest technology in the auto loan industry!

LENDER COMPARISON

No more tireless research! Technology has enabled us to compare multiple lenders at one time, often allowing potential customers to easily view information such as APR percentage, loan term length, minimum credit scores, and interest rates.

AUTO LOAN CALCULATORS

No more calculation errors! Online Auto calculators make it easy for borrowers to understand their monthly payments, and can also help identify the best loan terms for a particular budget. This valuable tool allows customers to input various factors such as the purchase price of the car, the down payment amount, and the term of the loan.

ONLINE LOAN APPLICATIONS

Say goodbye to long lines and frustrating bank hours! The online loan application process can be completed in a matter of minutes, and many allow for uploads of important documents such as pay stubs and driver's licenses. This means no more waiting in line at the bank or faxing paperwork back and forth. You can even sign your online loan application quickly and securely with esignature.

ONLINE LOAN PAYMENTS

No more missed car payments! In today's technologically advanced world, there are a million and one ways to make your monthly loan payments. You can autopay through your bank account, set up recurring payments online, or even pay with a debit or credit card. It has never been easier (or more convenient) to take care of your car loan! So there you have it – technology has made the auto loan process much easier! Whether you're looking for a new or used car, make sure to check out the latest technology in the auto loan industry. You'll be glad you did!

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I love the fact that I can send or request documents from a customer and it is easy to get the documents back in a secured site via text message. Our company switched from Docusign to Lightico, as Lightico is easier and more convenient than Docusign, as the customer can choose between receiving a text message or an email.