What is cheaper? To let a car dealership finance or get a bank loan and pay it cash? and African Finance Ministers Presser

What is cheaper? To let a car dealership finance or get a bank loan and pay it cash?

Is it cheaper to let a car dealership finance a car? Or get a bank loan to pay the car cash and then just pay the bank back for the loan?


Finance best answer:

Answer by Vince M
Assuming you have reasonably good credit, a bank will get you a better interest, but if your credit risk is poor, a bank may not offer you anything. Many times a dealer will be ready to carry their own financing, assuming the risk themselves. Of course, they will charge you for it, with very high interest, and a harsh payment schedule. Instead of monthly payments, their contract may expect weekly payments.

In fact, the dealer may be the ONLYones willing to finance your car.

Finance

African Finance Ministers Presser


Image by International Monetary Fund
Alamine Ousmane Mey, Finance Minister of Cameroon, left, and Ngozi Okonjo-Iweala, Finance Minister of Nigeria, appear with other African Finance Ministers during a briefing for the news media on April 20, 2013 during the 2013 IMF World Bank Spring Meetings in Washington, D.C. (IMF Photo/Cliff Owen)

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