Only a third of people buying a car choose dealer finance

Always think your local dealer is ripping you off? You’re not alone, according to new data from the US, only a third of people buying used finance or car loans from the place they are buying the car from. It’s a remarkable figure, and it shows that consumers are becoming more tactical when it comes to securing the best rate.

Despite this, the Center for Responsible Lending says that more than double the numbers of the same vehicle buyers use the dealer for financing.

Kathleen Keest, senior policy counsel for the Center stated: “That is not always a good thing.” She continued to say “Keep focused on the fact that there are two separate sales here: the car and the loan to finance the car. The more separate you keep the two sales the better off you're going to be."

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