Auto Leasing Guide
Go to now !

Car Financing - How it Really Works Tulsa OK

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.

steffen criss
(580) 761-8733
1 miller dr
chickasha , OK
Colonial Finance Corp
(918) 836-1020
4928 E Admiral Pl
Tulsa, OK
Community Bank & Trust Company
(918) 582-6221
2420 Southwest Blvd
Tulsa, OK
A Family Loan Co
(918) 664-5110
7932 E 21st St
Tulsa, OK
Time Finance Co
(918) 582-0131
2808 E 11th St
Tulsa, OK
(405) 354-3519
Advance America Cash Advance
(918) 585-9962
1620 N Lewis
Tulsa, OK
Maverick Finance Co
(918) 835-5772
6608 E Admiral Pl
Tulsa, OK
Diamond Finance
(918) 556-5626
616 S Main St Ste 114
Tulsa, OK
AAA Finance Company
(918) 446-2274
1630 W 51st St
Tulsa, OK

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