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CitiFinancial Auto

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CitiFinancial Auto

An informed consumer is a smart consumer. Be smart!

CitiFinancial Auto is a branch of CitiFinancial a privately-owned company of financial services. CitiFinancial is a subsidiary of Citigroup which is the premier provider of financial services worldwide, offering a wide collection of loans.

In May 2005 Citigroup's subsidiaries Auto One Acceptance Corporation, Arcadia Financial, Ltd., and TranSouth Financial Corporation were combined under the name CitiFinancial Auto. This was done, according to Mary McDowell, President of CitiFinancial Auto, to "provide more clarity.and allow us and our customers to take full advantage of the considerable strength and name recognition of the CitiFinancial brand."

For U.S. consumers, CitiFinancial finances vehicles thru brick and mortar dealerships and online auto sellers. As part of this group of loan companies under the umbrella of CitiFinancial, CitiFinancial Auto loans for vehicle purchases to almost one million customers and is associated with 12,000 plus auto dealers.

In this day and age of stress, high gas prices and long work hours, CitiFinancial makes applying for an auto loan and even purchasing a car, as easy as turning on your computer. You can apply for auto financing from the comfort of your home and within a few minutes know whether you've been approved.

You can even shop for a new or used vehicle from any of the over 12,000 franchised auto dealerships. If you don't want to apply online, you can also apply for an auto loan by phone or at the dealership.

A visit to the CitiFinancial Auto website will find a variety of links and tools to make your auto purchasing experience easier. If you are researching a vehicle, they provide a link so you can obtain a vehicle history report, as well side-by-side comparisons and crash test results. Looking for a used car? Get a FREE VIN check at AutoCheck®.

They also offer links to those sites that establish car values. In addition to Kelley Blue Book, there are also links to NADA Appraisal Guide and the Chrome Carbook®.

When you're ready to look at financing the vehicle of your choice, they also offer an auto finance calculator so you can get an idea of what your monthly payments will be based on the purchase price, your downpayment and interest rate. In addition, there are calculators for figuring the difference between leasing versus buying, the savings with a low interest rate, and early pay off.

The CitiFinancial Auto website provides information on how to "Use Credit Wisely" and how to "Save on Car Insurance". There are also a number of helpful tools, such as "Auto Buying Tips" and information on "Buying New vs. Used" and how to choose insurance.

For the ease of payment, CitiFinancial offers you a number of payment methods aside from snail mail. While these may be a convenience, as with any financial obligation payment arrangement, you may want to investigate whether a particular option is suitable for you.

For instance, as with many financial institutions, when you make a payment online, there is an additional fee for using that "convenience." Personally, I have an auto loan through Chase, and I refuse to make an online payment because I don't want to "give" them another $15 every month.

There are also some drawbacks to setting up an automatic direct debit or ACH from your checking account. All it takes is one time when the money isn't in there, to find yourself in a world of hurt financially.

There is the option of paying your auto loan to CitiFinancial Auto with a check by phone. Just be aware, that there is also a fee for using this convenience, as there is with the other options of a Western Union Quick Collect® or a MoneyGram ExpressPayment.

Probably one of the best options is set up a direct bill pay through your bank. That way it is paid automatically every month, but there's no charge, and the payment gets there faster than by sending a check in the mail and being concerned about a "lost" check.

Anytime you are thinking about financing the purchase of a vehicle, make sure you know that you are dealing with a reputable company. CitiFinancial Auto has a reputation that keeps them ahead of the competition when it comes to auto loans.

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