Three Ways Lenders Like Consumer Portfolio Services Make Things Easy for Borrowers

Heading to a dealer who arranges financing on site has become the preferred option for many shoppers when the time arrives to buy a car. Companies like Consumer Portfolio Services enable this flexible approach to the business by purchasing loans that dealers approve at the time of purchase.

In practice, this normally means a loan will change hands soon after the borrower drives home in a newly acquired vehicle. Heading to the lender’s website will typically reveal quite a few ways of learning about and keeping up with the loan. A quick look at a few of the options that most frequently prove useful could be helpful to some.

Many Ways to Stay on Top of Automotive Loans Online

Car buyers who arrange financing from banks normally have access to related services and features. The same is true of those who obtain loans backed by indirect lenders who partner with local car dealers.

In fact, some specialty lenders maintain websites that are significantly more useful than those of most conventional banks. Some of the types of services that will often be available to website visitors concern matters like:

  • Statements. Although some people still prefer to receive important account statements by mail, many more find the convenience of digital delivery and access more appealing. Logging on to the website of an indirect lender will typically allow a borrower to review both the most recent loan statement and those from the past.
  • Payments. Putting a check in the mail might sometimes be the best option, but most borrowers find it easier to make loan payments online. All that will typically be required will be to provide some basic information, like the routing and account numbers that should be used to fund future payments.
  • Payoffs. It can easily make sense to pay off the rest of a loan well before its term is set to run out. That will require knowing how much would need to be submitted at a given moment to satisfy the loan, which is a figure that can often be found online.

A Better Way to Manage a Loan

Indirect lenders who make it easy for borrowers to stay on top of issues like these are more common than many realize. Services offered online can make it quite simple to keep up with a car loan.