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Finance with dealer

  • 04-05-2016 7:05pm
    #1
    X200
    Registered Users, Registered Users 2 Posts: 42 ✭


    I'm looking at buying a car for around the 10k mark. I'm probably looking at getting a loan and I've noticed most dealers (used dealers not main) have their own finance offers with lower interest rates than most bank loans. I presume they all go through BOI or something like that? Anyway my question is is it a relatively straightforward process going with this and also they have the option to apply for finance online, should I be doing that first and then looking at the car, or looking at the cars first and then applying online?


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,762 ✭✭✭✭Atlantic Dawn
    M


    Apply for finance first so you know how much you are approved for and how much the final amount to repay will be, then go looking at cars and buy one.


  • #3
    X200
    Registered Users, Registered Users 2 Posts: 42 ✭X200


    Atlantic Dawn wrote: »
    Apply for finance first so you know how much you are approved for and how much the final amount to repay will be, then go looking at cars and buy one.

    I get you, but if I'm applying through a dealer am I stuck with them?


  • #4
    bazz26
    Registered Users, Registered Users 2 Posts: 51,363 ✭✭✭✭bazz26


    Well if your getting finance through a dealer then it will probably only be on their cars.

    I think having approval for finance through the main banks in the normal way as an exercise will mean that most likely it won't be a problem getting approval on a similar amount through a dealer you are buying the car from, the only difference should be that the dealers rate should be more lower.

    Actually I've known people to get refused finance by their own bank directly only to get approved by the same bank via the dealer they were buying the car from.


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