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Why would a dealer insist on me getting a loan instead of paying cash?
"Why would a dealer insist on me getting a loan versus cash? I want to buy a new car and I have the cash to do so. But when I went to the dealership, the dealer was adamant about me getting a loan and said it would work out in my favor."
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“That’s because many dealers can get a commission from lenders for providing the lender with a
new car
loan. If you’re doing dealer-arranged financing, that’s usually what happens.
If you run into this issue and the dealer is all but refusing to accept cash, just walk away or ask to speak with a manager. Every business loves cash in hand, especially for high dollar items.”
View full answer
- Gregory R.
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