New Cars - A Reality Check Celina OH
West Chester, OH
Mo-Fr 0900-1700, Sa-Su Closed
Child Seats, Hand Controls for Disabled Drivers Only , Gold Counter Service
This location is for Private Flights only.
New Cars - A Reality Check
In the years we've been in the automotive advice business we’ve received thousands of emails with questions about buying and leasing new cars.
Although each reader's situation is different, there seem to be general issues that show up over and over again that represent some common misunderstandings and misconceptions about new car buying and leasing. Let's address some of them now.
New cars are not financed by dealers
There is a common misconception that new-car dealers finance the cars they sell or lease. Not true. Dealers don't make loans or finance leases. A dealer may run a preliminary credit check on you prior to completing your paperwork, but this should not be interpreted as approval of your loan or lease application. He just wants to make sure he's not wasting his time on someone with serious credit problems.
A new-car purchase or lease deal is contingent on the dealer being able to find a finance company or bank who will agree to finance your deal, based on your credit history and debt load. The finance company pays the dealer for the car (which means the finance company owns the car), and arranges for the customer to pay them back the money for that car, plus interest. See for more details.
Dealers can ask you to return your new car
A dealer will allow you to drive away in his new car immediately after you've signed your loan or lease papers. This does not mean your credit has been approved or that your loan (or lease) ...