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What is considered a "short time period" when financing auto loan?

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StartingOver10
Moderator Emerita

Re: What is considered a "short time period" when financing auto loan?


@DevotionToU wrote:

If you finance through a dealership, there is a higher chance you won't get the best possible price for your purchase.  They are likely to use one of their preferred lenders, which would make them more money.


^^^Absolutely correct.

 

The dealership makes more money on the financing than the vehicle itself.

 

That is exactly why you want to get your own financing with a CU before walking into a dealer to purchase....much better results for you. Plus your credit report doesn't get shopped all over with a bunch of lenders.

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