Financing Q's
Hi all, Probably been asked before, but a search didn't seem to get me what I wanted. The wife and I are seriously thinking about pulling the trigger on a new trailer to replace our 2005 Hybrid. ...
Forum Discussion
The vast majority of lenders no longer allow rates to be marked up. They just pay the dealer a placement fee, usually a few hundred dollars. This change occurred due to the fact that many lenders and dealers were sued under class action lawsuits accused of charging higher rates to different protected classes. Remember when borrowing money, it is a commodity, rate is king. One bank does not have a better loan than the next. Dealers actually all use a standard loan contract that is assignable to whatever bank they end up assigning the loan to.
