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Turning the worst part of the borrowing experience into the best

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Contributed post by:CUneXus Solutions

Does anyone like applying for a loan? Not likely, according to recent studies. The results of the latest survey fromcarfinance.comnaming the worst part of buying a new car may not surprise most people. Haggling over price, of course. The second worst part of the car buying experience? Getting a loan. Is anyone surprised?

The turn offs to applying for a loan are many. When it comes to cars, to get a loan from the dealer, buyers have to spend more time with the outfit that just delivered the worst part of their car buying experience. But even that may be more attractive than a trip to the bank or credit union, where paper work and waiting for results can both be daunting. Other studies suggest that when it comes to loan applications, many people don’t apply because they are simply afraid to look at their credit score.

While boomers are more patient with the traditional car buying experience, the millennial generation expects more. Most of their shopping and purchasing has been made extremely personalized, convenient and mobile—in the language of marketing, delightful.

Jordan Rumsey