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A dealer would prefer you signed on the dotted line of a credit agreement as they get commission on that too.
Very true... and be careful here, you do not have the same cooling-off period with most car finance agreements, signed on the vendor's premises, that you otherwise have with most personal finance.
It can still sometimes pay to take their crumby finance and then cancel it though but you can seldom get out free of charge. 😕
I got an additional £500 quid off a £7k motor by taking out the dealer's finance. It cost me £50 cancellation fee to get out of the credit agreement the next day though (going direct to the finance company, not the dealer). 😀
If you ask them who does their finance before you visit, you can ring the finance company and establish the cancellation costs beforehand.
Posted : 27/04/2011 1:31 pm
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