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Truck Purchase Finance Question
Posted on 6/14/16 at 10:31 am
Posted on 6/14/16 at 10:31 am
In the market to purchase a truck and was wondering if it is better to finance with dealership and then refinance immediately after purchase or bring financing already in place to dealership for purchase? Will dealer give me a better deal financing through them?
3
Posted on 6/14/16 at 11:09 am to nrtiger
Yes, dealer will give you better deal if you finance with them. Get pre approved and see if dealer can beat or match rate, that just saves you the extra trip(s) and may save you $.
What truck you looking to purchase?
What truck you looking to purchase?
Posted on 6/14/16 at 3:27 pm to nrtiger
I went to my bank, whom I've been with for over 10 years and got 5 year rate of 2.5%. During the sale, they asked about financing and I said I already got it through my bank at the rate of 2.5%. The salesman went to his boss and came back in a few minutes and offered 2.0% and I obliged.
Posted on 6/14/16 at 3:35 pm to LSUChamp06
My friend works for VW and they will pretty much always beat whatever rate you bring them. It has to do with their financing arms and they eventually sell them I think. I'm not exactly sure, but its pretty much guaranteed.
Posted on 6/15/16 at 5:45 am to nrtiger
Yes go with dealership first then refinance. Don't leave money on table
Posted on 6/15/16 at 7:00 am to tigerfann83
quote:
Yes go with dealership first then refinance. Don't leave money on table
i concur
i bought a new truck in october and financed through the dealership at 2.9%(i think) and they gave me 5000 off for financing through them
the next day i refinanced with no penalties/fees for 1.X%
check to make sure before you finance through the dealership that there's no penalties for refinancing right away
Posted on 6/15/16 at 7:04 am to TexasTiger34
I've done that twice before with ford motor credit
The dealer will tell you that you must wait 3 months before doing it but they are lying to you, at least in fords case.
Both times ford was offering a $1000 rebate if you used FMC financing but the rates they were giving were shite.
The dealer will tell you that you must wait 3 months before doing it but they are lying to you, at least in fords case.
Both times ford was offering a $1000 rebate if you used FMC financing but the rates they were giving were shite.
Posted on 6/15/16 at 9:01 am to Croacka
My local credit union is advertising 1.99% are the dealers still going to beat that? For they are offering a $500+ credit for financing with them then it would still be worth the refinance I'm just curious about their rates.
Posted on 6/16/16 at 7:33 am to baldona
quote:
1.99% are the dealers still going to beat that?
Doubtful.
Posted on 6/16/16 at 7:59 am to Cooter Davenport
I was preapproved for 1.9% but to get the $500 rebate Ford was offering, I went with Ford Motor credit at a much higher rate. Salesman told me to refinance as soon as today 
Posted on 6/16/16 at 8:17 am to nikki6
Yeah, ford gave me like 6.5 and 8.0% for the two trucks I've purchased in recent years
I have a top tier credit score too. Not sure why they are happy not competing
I have a top tier credit score too. Not sure why they are happy not competing
Posted on 6/16/16 at 8:58 am to Croacka
quote:
Not sure why they are happy not competing
Probably because a lot of people will just finance with them to get the rebate and then not bother taking the two extra hours to go refinance at a better rate. You'd be amazed how lazy a lot of people are
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