Can I finance a car through the dealership the same day I find the car that I want?

"Can a dealership usually get financing the same day or does it take a few days? I’m looking to finance a new car but I don’t really know what to expect."

Answer
“Dealerships can usually get financing for a new car on the same day, depending on your situation.
But beware; you are likely about to get taken advantage of.
If you have the credit to get approved through dealership financing on the same day, then you will likely be able to get pre-approved from your bank or credit union.
Dealerships will tell someone with a 720 credit score that they qualify for 5.99% interest rate, but that same person could get financing on their own for 2.99%.
Don’t rush through the car buying process. In order to get the best deal:
  • do your research
  • get pre-approval on your own
  • negotiate with dealerships
  • save up a sizeable down payment
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Johnny Puckett
Answered on Jul 28, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
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