Online Car Buying F.A.Q.

Online car buying helps many save thousands on new or used cars. Can it help you too?

This FAQ answers the most common questions about online car buying. For further info, check our longer car buying guide.

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Online car buying

1. How does an online car buying service work?
2. What are the advantages of buying online?
3. What's the best way to use an online car buying service?
4. Where can I use my loan to buy a car?
5. What kind of car can I buy?
6. Should I pick out a car before I apply for a car loan?
7. How should I negotiate vehicle price?
8. Can I include extra costs in my car loan?
9. What if I need a higher loan amount?
10. Are online auto loans good in all fifty states?
11. How long do I have to buy a car?

1. How does an online car buying service work?
You enter the make, model, and year vehicle you're looking for, and narrow the search down by price range and geographical location. After you've found something you like, you can either contact the seller or ask to be contacted. It's that easy. Try it.
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2. What are the advantages of buying online?
Low price, no haggling, and plenty of cars to choose from.
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3. What's the best way to use an online car buying service?
Set your area and price ranges large. (50 extra miles or a couple hundred dollars isn't too much for a dream car.) And act fast: some cars sell within hours, so let a seller know you're interested and get the ball rolling.
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4. Where can I use my loan to buy a car?
Auto loans by Capital One and RoadLoans can be used to purchase a new or used car from any franchised dealership (those authorized by a particular manufacturer to sell their new cars). Capital One also offers person-to-person car loans that you can use to buy a used car from any titled owner.
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5. What kind of car can I buy?
Almost any new car, and most used cars, with some vehicle age and mileage restrictions. No commercial vehicles.
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6. Should I pick out a car before I apply for a car loan?
You can, but you don't have to. You may prefer to shop after you've been approved, because you'll have greater bargaining power, and the ability to buy quickly.
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7. How should I negotiate vehicle price?
Consumer advocates recommend negotiating vehicle price separate from financing costs to be sure you're getting the best deal. With direct financing, you can shop for the best price without mixing in financing costs.
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8. Can I include extra costs in my car loan?
If you're buying from a dealership, you can include any taxes and fees associated with the purchase in your principal amount. With a person-to-person loan, you'll need to cover those costs separately.
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9. What if I need a higher loan amount?
Simply notify your lender via email or telephone, and you'll be re-approved for the higher amount. (This can affect the rate you were originally quoted.)
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10. Are online auto loans good in all fifty states?
Yes, although RoadLoans does not offer auto loans in Tennessee, Louisiana, or Hawaii, while Capital One operates in all 50 states.
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11. How long do I have to buy a car?
Capital One allows you to lock-in your interest rate for 45 days. RoadLoans offers locks of 30 or 45 days, depending on the loan.
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Next: plug in some numbers, and calculate your loan terms with our car loan calculator.

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