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New Cars - A Reality Check White Hall AR

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.

Budget Rent A Car
(870) 663-4473
5501 S Olive St
Pine Bluff, AR

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U-Haul Company
(479) 751-6212
806 Twin City Ave
Springdale, AR
 
Riggs Cat
(479) 756-8080
4117 Wagon Wheel Rd
Springdale, AR
 
Riggs Cat
(870) 932-5473
3701 E Parker Rd
Jonesboro, AR
 
Enterprise Rent A Car
(910) 484-2888
2625 Raeford Rd
Fayetteville, AR
 
Enterprise Rent-A-Car
(870) 534-7766
2217 S Olive St
Pine Bluff, AR

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Enterprise Auto Rental
(501) 562-6623
523 South University
Little, Rock, AR
 
Penske Truck Rental
(479) 750-4333
1507 W Shady Grove Rd
Springdale, AR
 
Mid America Vehicle Rentals & Sales
(870) 886-7689
307 W
Jonesboro, AR
 
Auto Rental of Jonesboro
(870) 932-0221
3901 Lindbergh Dr
Jonesboro, AR
 
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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) ...

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