Buying a new car...?

Would it be a good idea to take out a loan from a bank and then pay for the car with cash? would it be cheaper, or is it the same thing if i just finance it with the dealer? any tips? thanks!

Buying a new car...?

It%26#039;s essentially the same as financing through the dealer. The only difference is you may be able to get a better rate direct from the banks.

Buying a new car...?

It would be cheaper if you got a bank loan and did it that way.Interest rates are at a all time low in years.The car dealership interest rates will be High.

Buying a new car...?

It%26#039;s good to go into the dealership with your own financing through a bank or credit union. Now if the dealer can match or beat that rate then go with them...if they can%26#039;t use your financing..pretty simple.

It will be the same price.

Buying a new car...?

Dealers don%26#039;t sell cheaper to cash buyers. They want you to finance through them so they get their kickback.

You have to have very good FICO to get the best rates.

Whatever interest rate the dealer FIRST quotes you is a lie. Tell them you want a lower rate or you will walk and watch how fast they lower it.

Buying a new car...?

Depends on how long you intend to keep it . If it is a long-term purchase and you have to be honest with yourself about this, it would be much less expensive in terms of interest debt to take advantage of factory incentives for 700+ beacon customers with stable job and residential history. If it is a shorter term purchase take the cash discounts. If you are buying a used car go to the bank and secure an interest rate and an approval amount, it gives you a real edge when negotiating used car prices, I know because my F%26amp;I Manager constantly bitched when someone came in with a pre-approved letter from a bank or credit union--it cut into her commission, mine too but I focused more on sales.

Hope that is of some help.

Good shopping!!!!

Buying a new car...?

On many occasisons, regardless of what many people of the older mentality of %26quot;Cash Is Better%26quot; may think, a dealership will usually not really care if it is cash you are paying with or not when it comes to pricing.

They would of course prefer you pay in Financing it, because otherwise they lose money.

You getting financing through a Bank of your own or through a dealership doesnt matter either, except when it comes to your credit situation and the rate you are being offered.

Our store Finances in House with one of our lenders 7 out of every 10 cars we sell (avg of 600 total Units a Month)....and thats because our rates are very competetive to the surrounding third party lenders....but that doesnt mean it would be the same everywhere you go.

The best thing you could do is shop the rates you are getting, and compare that to the money you would make if you left that same amount in the bank. (if you are getting 6% on your cash and can finance at 4.5%, then keep the money in the bank and finance the car!)

Hope this helps!

Chris