Many new websites and apps are launching, allowing users to get “pre-approved” before going to a dealership. That all sounds great, but the dilemma still remains, “am I getting the best interest rate”?
Las Vegas, Nevada (PRWEB) July 18, 2017
Have you ever purchased a new or pre-owned vehicle from a dealership? Most of us have and we’ve all surly want to ask the question, “is that the best rate you can get for me”? Regardless, the answer you will always receive from the sales or finance person is a resounding, “yes”. My True Auto Rate pulls back the curtain on the automotive world of finance.
With the launch of MyTrueAutoRate.com you will never have to wonder again! With My True Auto Rate you don’t have to run your credit or enter your social security number to know the rate for which you may qualify.
The founders of My True Auto Rate have developed an algorithm based on the industry standard of Risk Based Pricing. This algorithm allows a user to enter their credit score, the year of the vehicle they are purchasing, their down payment and the length of the term desired. A potential rate is then displayed allowing a consumer to make an informed decision on their vehicle purchase.
Many new websites and apps are launching, allowing users to get “pre-approved” before going to a dealership. That all sounds great, but the dilemma still remains, “am I getting the best interest rate”? Not knowing the best interest rate for which they may qualify, they also have to submit a formal application and have their credit pulled, resulting in one or more inquiries. My True Auto Rate initially takes the formal application and running credit out of the mix and goes off of real world lending practices.
My True Auto Rate aims at making the negotiating process easier for the consumer so when they set foot inside the dealership they will hopefully know they are getting the best deal possible. Consumers have great resources like TrueCar, AutoTrader, Kelly Blue Book and other websites that will tell them what they should pay for new or pre-owned vehicle and what their trade in is worth, but there are no sites that will tell a consumer what the best potential rate is, until now!
“After working as a Finance Manager and Director for over 30 years, I saw customer after customer be compromised without their knowledge. After the Consumer Financial Protection Bureau was launched I knew that major changes to the automotive financial industry were imminent and that’s when I came up with the idea for My True Auto Rate” –Jim Sostman, co-founder
About My True Auto Rate
My True Auto Rate was developed for the purpose of providing consumers the final tool needed to make an informed decision when requesting financing by an auto dealer. Further, the use of information provided by our web site was also developed to stop potential discrimination which can also occur at any auto dealership.
My True Auto Rate is pulling back the curtain on the automotive world of finance. This website was developed by automotive industry and technology veterans.