Auto Leasing Guide
Go to LeaseGuide.com now !

Car Financing - How it Really Works Casper WY

Car financing is frequently misunderstood by automotive consumers. Learn how dealer financing works, how to get approved, when to get a co-signer, and the importance of good credit.

Western Vista Federal Credit
(307) 472-0748
732 W Collins Dr
Casper, WY
 
Beneficial Wyoming Inc
(307) 237-8790
303 Thelma Dr
Casper, WY
 
Advance America Cash Advance
(307) 237-9495
235 S Montana Ave
Casper, WY
 
Countrywide Home Loans
(307) 577-3660
5890 E 2nd St
Casper, WY
 
Wells Fargo Bank Na
(307) 266-1100
234 E 1st St
Casper, WY
 
Wells Fargo Bank Na
(307) 266-1100
3500 Cy Ave
Casper, WY
 
Wells Fargo Financial
(307) 237-1267
317 Thelma Dr
Casper, WY
 
Frontier Financial
(307) 234-4500
600 E 1st St
Casper, WY
 
Cowboy Credit Hotline
(307) 472-1794
6101 E 2nd St
Casper, WY
 
Benchmark Mortgage
(307) 265-0441
139 W 2nd St
Casper, WY
 

Car Financing - How it Really Works

One of the most misunderstood concepts about buying or leasing a new car is how car financing really works. Dealer financing, specifically, is misunderstood.

We'll say it again later, but the key concept to understand is that car dealers do not finance car loans and leases. However, dealers can most certainly affect how you finance and what you pay for financing.

Dealers always sell for cash
Car dealers are independent business people who have an authorized franchise with one or more car manufacturers. They do not work for the manufacturer; the manufacturer does not own the dealership.

Dealers buy cars from the manufacturer, usually with large "floor-plan" loans from a bank or finance company. The bank charges dealers interest on these loans. Dealers have to sell cars to pay off these loans with associated interest, as well as cover other expenses of running a business.

When a dealer sells or leases a car, he always receives cash, whether it's directly from the customer, or from a finance company or bank who has loaned a customer the money.

A common misconception is that dealers would rather get cash directly from a customer, bypassing the financing step. Some people mistakenly believe that dealers give cash customers a discount. This is not true. In fact, dealers typically get a commission or "finders fee" on car financing provided by banks or finance companies and therefore prefer that customers finance or lease...

Click here to read the rest of this article from Lease Guide