Hi, kind of a weird situation going on with my bank. I had a loan for 7000 approved and was not told that I only had 2 weeks to use this loan or it would be canceled. So I went over that amount of time, and had to go back and re do the loan process, nothing has really changed financially for me, and I still have really good credit. The girl I was dealing with went on vacation, and the new guy in place was unable to approve my loan.
Now if I speak to a manager today (I find out if it's approved from higher ups) and somehow don't get approved (which I'm worried might happen) what banks/institutions could I use to get the loan, as I am looking for a 36 month term on the loan, and most car dealerships only do 24th on used. Hoping to get a good rate, and avoid any "scheis"ters. Any help or info is greatly appreciated.
Hi, kind of a weird situation going on with my bank. I had a loan for 7000 approved and was not told that I only had 2 weeks to use this loan or it would be canceled. So I went over that amount of time, and had to go back and re do the loan process, nothing has really changed financially for me, and I still have really good credit. The girl I was dealing with went on vacation, and the new guy in place was unable to approve my loan.
Now if I speak to a manager today (I find out if it's approved from higher ups) and somehow don't get approved (which I'm worried might happen) what banks/institutions could I use to get the loan, as I am looking for a 36 month term on the loan, and most car dealerships only do 24th on used. Hoping to get a good rate, and avoid any "scheis"ters. Any help or info is greatly appreciated.
hi there,
I am not sure who told you that you could only get a 24 month deal on a used car at a dealership because tahts definately not the case.
We go right up to 66 months on a used vehicle. I know that the local Ford GM and Chrysler dealerships deal with can get longer financing with good rates.
you might want to look at a different dealership or talk to a more experience business manager.
just my two cents.
A
I used to work for TD Canada Trust and dealt with car loans quite a bit, always ask for the most experienced Financial Advisor at your FI (financial institution).
Making a good friend at the bank will pay dividends for a long time trust me on that.
In answer to your question most dealerships deal with the banks directly, and as the dealerships will buy lets say 5,000 loans from a bank a year, they will get the best rate. So I would reccommend getting your loan from the dealer.
Really appreciate the help guys, got the loan. I'm just a worrier by nature, I think it's the virgo thing, a la Conroy. I really do want to thank you guys!
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I really do want to thank you guys!