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Dealer floor planning is basically a credit line for dealerships to buy vehicles. It allows them to go to auctions (or take trades) and have their inventory without paying for it right up front. This is extremely helpful for small dealerships that do not have the cash to pay for the vehicles. Most dealerships have some sort of floor plan - not many can, or do, opperate on cash.
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∙ 10y ago
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What is the monthly car payments on a dodge charger?
IT depends on the dealership you go to and your financing plan, but it's usually around 300-400 a month.
Can dealership back out of signed contract once approved financing and drove the car off lot?
after approved financing and signed contract, have had car 8 days, can a dealership take car back?
What are the chances that after trading in a vehicle for a new one you would have to give the new car back because financing fell through?
It's best to make sure you have financing before you buy a car. If you plan on getting financing from somewhere other then the dealership, and you have a set amount you can spend, you won't let yourself get into a car that you can't afford and you may be able to haggle the price with the dealership more.
Can your car be repossed by the car dealership if i was never approved for financing?
You were never approved for financing to buy the car thus you do not own the car and the dealer has the right to his property....so yes they can
Where can one receive financing for car credit?
One can receive financing for a car loan in many places. If one is purchasing the car at a dealership, the dealership most likely has a loan officer on site. Or one may be able to get a loan from their bank or credit union.
What are your options if you bought a used car in new car dealership got their financing and had an accident within 3 days of buying the car and no insurance?
You have to pay off the car. Unless there was a fault with the car that caused the accident, the dealership is home free. Surprising that they did not require collision insurance as part of the financing.
Where can you get free information about car financing?
You can get free information about car financing from either a bank or a car dealership. You might also want to check with your insurance company. If you are buying a car from a dealer, I would talk with them first.
Where can one find more information about financing for cars?
To find information about car financing, you can visit your local car dealership, and ask them for information about the process of receiving financing. Also, some websites can provide you with reliable information, such as HowStuffWorks.
What is the best way to finance a car purchase?
There are several options for financing a car purchase. If you are buying through a dealership, they may offer financing for their customers. You can also get a loan from your bank or credit union.
When do you officially take possession of a new car from the dealership?
The moment you sign the contract, have financing, and they hand you the keys. The car is now yours.
Is it legal for a dealership to sell a car to someone with only a permit?
it is legal as long as they meet the financing requirements and insurance requirements of the financing. paying cash you bet.
Can purchaser cancel auto financing?
The only time the purchaser can cancel auto financing is in the begining of the loan during the "interview" with the finance company. That is one of the reasons the dealership will not tell you who the finance company is before they get "funded" by the bank. If you knew who the finance company was before the dealership gets funded then you can cancel the financing. The other issue you have is the contract signed with the dealership. They can still say they will be the bank and stick you with the car and the financing.
