I notice that some dealers have their own financing.
2007-04-19 10:41:14 · 11 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
The dealer financing lets the dealer maker more money. Go to a bank and get preapproved. Then you can compare the financing options fairly.
2007-04-19 10:45:14 · answer #1 · answered by shadouse 6 · 1⤊ 1⤋
It changes. Right now, dealer financing is probably more desirable as most dealers are having a hard time moving cars. There are many dealers offering 0% financing right now. There are times when a local bank or credit union has better terms.
2016-04-01 09:16:51 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Most dealer financing is done through the bank as well.
Really doesn't make a difference who is the financier, but what the interest rate is.
2007-04-19 10:44:49 · answer #3 · answered by mantle two 4 · 0⤊ 0⤋
Depends, in canada
Their rates can be as low as 0% and the bank is 6%
BUT, when you pay cash you can negotiate a better rate for example they offer a car at 20,000, XXX/mth at 0% but if you go to the bank and get the loan you can tell them you'll pay cash and bring the price down to 18000 for example, now you have to do the math and find out if it's better to go through them or the bank.
PS. The dealers also have conditions on their own financing. The bank has none.
2007-04-19 10:43:25 · answer #4 · answered by kamustahappy 3 · 0⤊ 1⤋
dealers use banks for the most part. dealer financing that is in house financing is the most expensive, and they consider you high risk. although, if the finance you, know that they are charging you too much for the vehicle to start with, and a large down payment. my suggestion is to walk away. check the blue book for the vehicle worth, dont let them tell you what it is worth, they lie!
2007-04-19 10:45:55 · answer #5 · answered by hankandbill 2 · 0⤊ 1⤋
Depends. Some new car dealers have cash incentives to help with sales, or they will have a lower interest rate.
Look at the total cost for the car. Add up all the payments plus the down payment and see what is cheaper. good luck
2007-04-19 10:45:15 · answer #6 · answered by Fordman 7 · 0⤊ 1⤋
it all depends..sometimes the dealer will be more willing to work with you..and may have a bit of a more personal relationship with you. they may be a little more flexible in dealing with you in certain situations..but it depeneds on the particular dealer/ bank. i try to avoid large organizations where i'm just looked at as a few dollars..
2007-04-19 10:45:09 · answer #7 · answered by Deonndre21 2 · 0⤊ 1⤋
Go with a bank so you can get pre-approved. It gives you a better opportunity to negotiate.
2007-04-19 11:11:07 · answer #8 · answered by Riddle me This! 3 · 0⤊ 0⤋
Go to www.adviceontime.com they have a good article on auto financing, what to do and what not to do.
2007-04-20 04:49:54 · answer #9 · answered by Joe 2 · 0⤊ 0⤋
Go with a bank, but really they both are a rip off if you don't have good credit.
2007-04-19 10:49:23 · answer #10 · answered by Anonymous · 0⤊ 0⤋