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| *Loan,banking and credit>>>bank loan |
Do car dealships give out loans or do you have to go to a bank first? |
Do car dealships give out loans or do you have to go to a bank first? dealerships do loans on the lot, but most of the time they have a bank backing it. personal loans no if you but a car you can get a kick back if the have a rebate of the over charge you and you get a check back.......use it to negoate The loan you will be offered will be at a high rate of interest. It is best to save your money and buy whatever kind of a car you can pay cash for. daveramsey.com will give you all of the information on how to be a very rich person one day by not making huge money mistakes now. u can get it at dealer but usually pay more,,,,figure what car u want costs and go to a few banks and credit unions.....like anything in life...shop around.... dealer wanted 8 1/2 % intrest but i got 6 at credit union...got lower intrest by getting 1 year newer used truck...cane out better... they can finance you with there own bank. if you feel more comfortable with your own bank, just use it. It's is usually better for the buyer to have a credit line ready to go shopping for a car. Dealerships only make money and their financing is usually higher. They might be cheaper if a rebate is in effect. God Bless you... Yes, dealerships do offer bank financing. I am appalled to see so many people think that the finance rates at dealerships are higher than at local banks. I sell cars, and I can tell you that the only time we have not been able to beat a local bank is when the bank is a credit union. We can either match or beat any local bank's rates. I don't know where you all are buying your cars at, but here is the way to do it. Go to your local bank, tell them you are looking at buying a car, and ask them for their best rate. They will give you a rate that they probably will not be able to do without doing a credit check, etc. In other words, they will give you the "low ball" of what they can do. THEN go to the dealership, pick out your car, negotiate your best deal, and THEN tell the dealer you are interested in financing IF they can beat the rate your bank told you. They will take your application, and send the deal to 8-10 banks to get the best rate. What you will get back is the best rate. I guarantee your local bank won't be able to touch it. Again, unless you can use a credit union, this is the cheapest financing... |
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