Originally Posted by wicked1
That's because they somehow get kickbacks when they push ppl to finance. I don't know exactly how it works but as long as they are not a publicly traded bank they work with dealers for specials rates and kickbacks.
2014 F150 FX4 Crew 4X4 EB
2015 Roo 23IKSS
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I love messing with dealers on this finance stuff. The last two vehicles I bought I moaned and whined about how I couldn't handle a $500 or so monthly payment. They always wind up negotiating the deal to get the payment down to less that that. As long as they drop the price but do not increase the term you save money.
I make sure the finance contract specifically says no pre-payment penalty (dealers hate it when I spend 10-15 minutes reading every word in the contract). Then, I make one payment for the agreed amount and then a second payment the next month for the entire amount.
I keep remembering that whenever talking to a dealer most of us are at a disadvantage. Remember: the dealer is a professional negotiator and you're not. They have the upper hand.