Can a car dealer force you to use their financing?
Can a car dealer force you to use their financing?
Dealerships can refuse any type of financing for any reason. It’s not immoral or unethical; it’s just business. That said, car dealers usually refuse outside financing if they’ve lowered the price enough. To make up for this discount, they want you to finance with them to recoup that money.
Do car dealerships get kickbacks from banks?
“Unless the dealership has its own financing department, most dealerships get a kickback, or commission, from the lending company for originating the loan. This amount varies depending on the total amount of the car loan but is often a few hundred bucks.
Do car dealerships check your bank account?
Of the many items to bring to a dealer will need when applying for your car loan, statements aren’t commonly requested. The dealer will sometimes look at your bank accounts to verify your income or help them decide if you’re a credit risk based on how much money you have in the bank.
How long is warranty on used cars?
12 months
Used car warranty A used-car warranty typically lasts for three, six or 12 months, with older cars often supplied with shorter policies. Cars sold by franchised dealers are often marketed under an ‘approved used’ scheme and are generally covered by a 12-month warranty.
What vehicles have a 10 year warranty?
Most of the vehicles with a 10 year warranty are from Korea or Japan. For example, Hyundai, Kia, and Mitsubishi carry these warranty deals.
What is an example of implied warranty?
The warranty of title is another example of an implied warranty. When people purchase goods, they do so under the belief that the seller has the right to sell the goods legally.
What is an used car warranty?
A used car warranty is a contract that offers warranty protection for older vehicles. Unlike liability insurance, which covers repairs after an accident, a car warranty covers the cost of needed repairs after a vehicle breaks down due to normal use.
