Another benefit which they render to their customers is that they have options for people who fall into the sub-prime category. Now many readers who desire an explanation concerning sub-prime category, here is the explanation. For a car dealer there are two genres of people, prime and the sub-prime.
Prime customers are those who have good and high credit rating in their credit cards. By that I mean that they are financially stable and have a good credit card condition. But the sub-prime is the vice-versa. And the norm which is usually followed by these money lenders is that they favor mainly the people who fall into the prime category. They reason is because there is lesser risk involved and the possibilities are that they would be able to clear off the loan on schedule. But with sub-prime people this is not the case.
They do not have any financial assistance and hence they are not able to convince the dealers in to giving them the loan. But these portals not only take the risk of giving them the fund for their vehicle but also assist in improving their credit ratings as they go along the way. They provide the offer of sub-prime auto loan through which they are able to get the vehicle of their dreams in no time at all. Though the conditions and rates which apply are a bit more as compared to the prime customers but at least they are provided an option which in otherwise they wouldn’t have able to get from the physical markets.