What to Know About the Dealership When Buying a Car


What do I need to do at the dealership?

After your loan has been approved by your chosen lender, your lender will contact you with detailed instructions.

What if the dealership says I need to use their financing?

Remember: you're in control. Dealerships can’t force you to use their financing or to buy products that you don’t want or need – at worst, you can always walk out and find another dealer.

What if the dealership says they need to run my credit?

The dealer does not have to run your credit to sell you a car. Often dealers will ask you for your social security number and other personal information so that they can offer you a loan (including their mark-up). You do not need to give the dealer your social security number if you don’t want to, and you definitely don’t need to accept a loan from a dealership if it’s not the best deal for you.

What if the dealership offered me a better loan package?

There are rare times when a dealership can help get you a better deal on a loan package than we can. Before saying yes to the dealer’s offer, be sure that it’s really a better deal. For example, sometimes dealers will offer you a lower interest rate, but charge much higher prices for a GAP Waiver or Vehicle Service Contract, or add in other products that you don’t want or need. They might also offer a lower monthly payment, but extend your loan term so you end up paying more interest over the length of the loan. After comparing everything , if the dealer's financing is better for you, go ahead and take it! We want you to get the best deal for you, whether it's through us or not.

What if the dealership says they can give me a lower interest rate?

Remember that the interest rate is just one element of a loan. A frequent sales strategy is to offer a lower interest rate while raising the price of your GAP or VSC policy or add in other products that you don’t want or need. If it's truly better for you, go with the dealer's financing. At the end of the day, we want you to get the best deal for you, whether it’s through us or not.

What if the dealership sold the vehicle I wanted?

If the dealership has another vehicle that’s virtually the same, your loan offer should cover it. Just make sure to coordinate with your chosen lender. If the dealership doesn’t have another similar vehicle, you might want to check out another dealership nearby.

What is the best way to trade in my car?

To get the best deal, we recommend you treat your trade-in as a completely separate transaction from the purchase of another car. Tell your dealer that you want to focus on one step at a time. That’s one of the reasons we recommend checking out Carvana’s instant cash offer. Carvana will give you a firm price for your vehicle, then come to your home to pick it up! Click here to learn more.

Does Outside Financial buy my trade-in?

No, we don't buy cars at Outside Financial. What we do is give you great advice on how to get the best deal when trading in your old car. Learn more here.

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