If i get approved with a car dealership and I decide i want to go else where does the bank or whoever willing to finace me finace me at a different place.?
2007-03-28 14:32:23 · 7 answers · asked by amy m 1 in Business & Finance ➔ Credit
You said 'dealership approval' Not bank approval .
If the dealership does the financing , they are only speaking for them . . . if you buy from them .
If you want a bank loan , go apply for an approval there then go around to car shop .
Dealer finance and bank finance are NOT the same thing .
2007-03-28 14:39:16 · answer #1 · answered by kate 7 · 0⤊ 1⤋
1
2016-09-26 12:01:10 · answer #2 · answered by Bryce 3 · 0⤊ 0⤋
If the other dealer has the same lender and the structure of the deal is about the same? Then yes. But you will have to reapply for the loan, you can not take a approval at dealership no. 1 and go across the street to dealership no.2 and use it.
If the other dealership doe's not have the same lender, then obviously the answer would be no.
2007-03-29 02:26:47 · answer #3 · answered by ? 7 · 0⤊ 0⤋
When shopping for a car, it is ALWAYS in your best interest NOT to go with the financing the dealership gets you. When the dealership does the financing, you'll end up getting the price they want you to pay. If you get approved through your bank, they don't have much leway and will have to reduce the price. I once had a dealer that wanted $5,000 for a car, promising me a really good rate on the loan trying to get me to use their financing instead of my own..I refused, and I ended up getting the car for $2400 thanks to my bank. :-D Had I gone with their financing, I would have ended up paying double!
2007-03-28 17:39:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Not necessarily. Most dealers have preferred lenders they deal with (read: lenders that will give them a commission or finder's fee for getting them business). Not every dealer will work with every lender, so you may not have the same loan available. If you want to shop around after you have a loan secured, you should get the loan yourself at your bank or credit union.
2007-03-28 14:39:39 · answer #5 · answered by Brian G 6 · 1⤊ 0⤋
I got approve for a car loan what about a home loan
2013-10-31 18:38:47 · answer #6 · answered by Linda 1 · 0⤊ 0⤋
You would have to reapply for the loan. You would have different security for the loan.
2007-03-28 14:37:41 · answer #7 · answered by Fordman 7 · 0⤊ 0⤋