Rebeca Mckin: Car dealer's approached by higher interest rate collectors in the market, because for those who can't get a loan from bank (Bad Credit Rating). they will definitely charge you more then any other bank or loan provider in the market. I would suggest don't do it, just approach the banks and ask them their rates to get a car Loan. compare it and go it from there, Good luck...Show more
Manual Burtis: 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.
Billie Bratchett: Well dealership offered financing may be lower. It varies week to week if a dealership can offer a better rate or your local bank. Dealerships use several lenders and sometimes truly can get the best rate for you. A common misconception is dealers only uses special lenders that only dealerships ! can use. This is true but they use regular banks as well such as BOA, Chase etc.I would see what rate your bank would offer you and then see if the dealership can beat it. Go with what ever source offers you the best deal.As far as the catch to the low rates dealerships offer they are incentive rates used to help the dealer sell cars. The only catch is your credit has to qualify.I hope this info helps....Show more
Mario Stricklan: M And I Dealer Finance
Nicolas Cooley: that is a tricky question...
Ileen Oshell: Most car makers are offering rebates now, but if they give you a real low rate, they steal your rebate. You don't get both.
Timmy Bustard: Thanks everyone for all the answers.
Katheryn Skrobacki: Please claculate the total amount payable over a period of time. Dont get carried away by 0%, its a fraud. Negotiate on the administrative/document charges.Ask if EMI is on reducing balance. Settle for the proposition which is attractive in tota! lity.
Marion Wieboldt: Dealer financing is Bank Financin! g, just arranged by the dealer for you. They will shop for the best rate available to make your payment affordable, of course they are paid a commission by the bank for it. Your always have the option to shop around on your own, at your bank or Savings & Loan, etc.
Jimmie Doerfler: it depends on how much intrest they charge, go with the least amout
Lashawnda Anteby: Use a little math add up and see where the total payments including the down payment amount to a lesser number, check the interest rate etc.,
Patrick Bitsui: Interest rates are not necessarily lower at dealers, although dealers often have manufacturer-sponsored special rates that are usually better than independent sources. Unless you know that you are getting one of the special promotional rates from a dealer, then it pays to shop around at banks, credit unions, and online sources. It's good to have your financing approved before you walk into a dealer's showroom -- for two reasons. First, it ! eliminates any surprises caused by credit problems and, second, it gives you the opportunity to compare and negotiate a dealer's finance rates.The following web site has some good articles that might help you if you have never financed before:http://www.firstcarguide.com/finance/....Show more
Clementina Collelo: Good question..... A few thoughts... 1. Modern cars are very, very reliable, so the old scare about needing a warranty has become a money maker for the car companies and dealers. Cars just don't break like they have in the past. 2. Best price is always good. A great price may easily overcome financing comparisons. 3. I totally commend your decision, understanding that it is economics driven, to buy a used car. I can well afford to buy a new car, but never have done that. My wife and I are retired, we much prefer to spend our money on home, family, our winters in Mexico. (we could never have done that if we had blown it all on new cars.) 4. Find a good reliable! car that you both feel good about and base your financing on best deal! . 5. As you know, banks like to loan money to people who have lots of equity in homes, stocks, secure incomes etc. 6. My wife and I were young also, and had to go thru that bank loan crap. 7. Our home is beautiful, I drive a 94 Mustang, my wife drives a 2000 VW Golf. Hope that helps, good luck and God Bless. Keep the faith, you will prevail....Show more
Mee Blumenfeld: i always like bank financing better . if you use the bank and keep a good credit /payment record with the bank. if will help you get the a loan if you even need to apply for one at the bank. having a good history at the bank is always a plus. also if you have a payment problem. you can go to the bank and handle it .. not play phone tag with someone 6 states away. I like using the bank . I would pay a point or two higher .just for the benefits it can have down the road. but that is me ....Show more
Wilfredo Muldoon: 1
Debora Soliani: Check out both rates?
No comments:
Post a Comment