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turbocomppro OP t1_jaamnzq wrote

That’s assuming the dealer actually accepts outside loans? Would it be feasible to just refinance it a few months after purchase?

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kthxtyler t1_jaanc7b wrote

Correct. Although if the dealer doesn’t accept outside financing, you’d be best moving on and giving your business to a dealer that does (most do)

You can always refinance your loan. I did and over the course of my loan will save around $1400 because I received more favorable terms. Keep in mind you’d be running your credit again and that can impact your credit score

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turbocomppro OP t1_jabj0h3 wrote

Thank you. Yes, I do believe that’s what I’m planning to do is refinance once I have the car. Unless somehow the dealer can give me a really competitive rate…

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kthxtyler t1_jabkt3z wrote

If you go that route, be sure to read the terms of refinancing. In essence, a refinance means someone else (another lender) pays the car off to give you better terms. Unfortunately, the car being paid off sometimes comes with penalties from your original lender - fly by night dealers will do anything to take advantage of these kind of things to make $

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turbocomppro OP t1_jac4jey wrote

Will do. Thank you. Hopefully they’ll just give me a good rate to begin with so I won’t have to go through all that…

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