Auto insurance and financing huge on the internet
One of the boom areas in internet use is finance – banks and insurance companies rely on the Internet extremely heavily for automobile insurance and financing. Today, when you buy a car, the credit application is entered at the car dealership on the Internet, it’s transmitted directly to our facility and reviewed and the answer is sent back by way of the Internet. The whole process takes about 10 seconds.
Most, if not all, banks have turned to the Internet for loan decision making. It’s incredible just how many millions and millions and millions of dollars are moving through the Internet in seconds, in terms of automobile loan decisions. It’s a monster, a huge industry.
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