Should you be looking at purchasing a car, brand new or second hand, then you will also want to consider the car dealer vehicle loans and if it is a good or bad idea.
It does not quite seem right when you think about it for a brief moment – A car dealer providing a service other than cars. But when you think about it a little more you begin to realize that this is part of the service and a way for the car dealer to diversify themselves against their competitors.
Consider the following benefits of being able to source your financing through the dealer:
- You do not have to deal with any bank (I can hear you sigh with absolute relief)
- The car dealership has all of your details on hand
- They offer you the piece of mind by doing the work for you
But is it that simple, and are you getting a fair deal?
It really is that simple.
Here are the basic steps should you want to go down this path and have the car dealer assist you with your vehicle finance:
- You see the car that you like, one that is within your price range and you indicate you want to buy it
- The dealer principle (the person you are dealing with) sources the best finance deal for you based on your financial information
- The dealer principle gives you feedback as to what the best deal is and what they have been able to find
- You decide which suits you best
- The paperwork is completed and the car is yours
That is straightforward, but is it too straightforward? Does that take us closer to an answer of car dealer vehicle loans being a good or bad idea.
A lot of this will rest with the person you are dealing with at the dealership. If you get someone who is trying to sell you a car that is priced out of your current affordability range then you are likely to have a poor experience. On the other hand, if you see a car you know is possible, and have an individual take care of you then this will no doubt endear you more to your new purchase.
And it is in the dealership’s best interest to offer a through the line service. No more is it just the business of cars. They want to make sure you receive the best service. That is why you do not have to go back and forth dealing with banks trying to get the best interest rate. On top of this, many dealerships have good standing relationships with the financial institutions, something that you would not necessarily have, and this allows them to get you a better deal.
After all, if they secure a great deal, then you buy the car from them and not from a competitor.
In today’s modern world of fast paced living and very little time to have to yourself, this type of process is a great alternative to queuing in banks or sitting on the telephone listening to elevator music. Making use of a car dealer vehicle loan, and if it is a good or bad idea, is definitely a good idea.