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- Should You Get Dealer Financing and Then Pay Off the . . . - themoneyknowhow
Getting dealer financing and then paying it off immediately can be a viable option if you can secure a lower interest rate and avoid prepayment penalties However, it’s important to carefully consider the pros and cons and compare your options before making a decision
- Whats the deal between the bank and the dealer when you finance your . . .
As with dealer brokered financing, the bank will hold a lien on the vehicle, be able to repossess it if you fail to make payments, and require to be payed before you can sell the vehicle
- How liens and lienholders affect independent auto dealers
Whether it’s from a private individual or direct from another dealer, purchasing a vehicle with a lien will be a little more complex But it’s not impossible—and with the support of your floorplan company, it could be even easier
- How long does a dealership have to payoff a trade in . . . - Sue Your Dealer
Accordingly, a dealership must fully pay off a lien on a financed trade in vehicle within 10 business days In the event they fail to do so, you may be entitled to actual damages, statutory damages, injunctive relief and your attorney’s fees
- Will a Dealer Pay Off My Trade-In No Matter What? - CarsDirect
If you’re considering a dealer that says they can pay off your trade-in’s total loan amount no matter what, you’re likely in a negative equity position, but it’s also not the end of the world!
- Buying new car - finance with dealer then pay off?
This can happen if the car manufacturer has an offer bundled with financing, or if the dealer gets a kick-back for using the manufacturer's financing I don't ask such questions, just accept the bargained-for offer then pay it off
- The Ultimate Guide to Dealer Financing (2025 Edition)
Another misconception is that a car dealership finances the vehicle The dealer does not approve or deny a car loan It arranges your financing with the many banks and lenders it partners with The lender determines whether you will be approved for a car loan and at what interest rate
- Vehicle Trade-Ins: Trusting a car dealer to pay off your loan can be . . .
Even if a dealership agrees in writing to pay off your existing loan, there is no guarantee that it will do so It might be a dishonest business, one that is having financial difficulties, or may even go out of business before paying off your note
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