Not many people have sufficient on-hand resources to pay cash for a new/used
car purchase. Most people HAVE to finance at least a major portion (about 80%)
of any such acquisition. Most people just assume that financing through the car
dealership is the simplest, easiest and most convenient way to go梐nd most people
pay more than they need to because of that assumption!
Car dealerships
rarely provide direct financing; i.e., they 損artner?with a lending institution
which provides funding to 搎ualified?buyers who apply for loans at car dealership
offices launch
x431 v+. The lending institution accepts all the involved risk, while in
most cases the dealerships accept a flat fee commission, a percentage of the
total loan, and/or a bonus for each loan placement from their lending
損artner.?This cost is paid for by the buyer through a higher loan rate. It might
be simpler and easier to file for a loan at the car dealership, but please don抰
assume that it doesn抰 cost you for that convenience. In a small number of case,
like at ThatsMyNewCar.com, financing is provided, however the dealer does not
receive any fee, percentage or bonus for placing the loan. The service is
provided to make the car buying experience better and more convenient for the
customer.
Banks and credit unions offer direct financing to car buyers,
usually at rates better than those they can offer through any 損artner?car
dealerships梩his is because they have no fees to pay for a middleman. Deal
directly with a lending institution and you can save money on your new/used car
purchase. If you have a savings/checking account with a bank or credit union,
they are much more likely to provide you with a car loan than any lending
institution for which you are not already a customer, and you抮e more likely to
get a better rate or more convenient terms (or both) from them too. Most even
offer lower rates if you agree to have payments automatically deducted from your
account checks to write, no envelopes to address, and no stamps to send them
in Autel
MaxiSys Pro. Now that is a convenience which not only doesn抰 cost you
anything, it usually saves both time and money!
Try to have your
financing issues addressed before you even go to a car dealership. Banks and
credit unions will help you determine how much you can afford to pay, which
should provide more confidence and less anxiety for when you actually go to a
dealership. With loan approval issues already addressed before you set foot on a
lot, if you see one that just screams hat My New Car?to you, you抣l be in a
position to close the deal right then and there, and to drive it home without
further delay. Now that could be a convenience derived from adequate preparation
and forethought!
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