Timeline for What's the deal between the bank and the dealer when you finance your car loan with your bank?
Current License: CC BY-SA 4.0
7 events
| when toggle format | what | by | license | comment | |
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| Sep 4, 2018 at 6:23 | comment | added | Halfwarr | @ThePhoton The Question asked might be looking at Buy Here Pay Here dealerships for people with sub-par credit en.wikipedia.org/wiki/Buy_Here_Pay_Here | |
| Sep 4, 2018 at 1:07 | comment | added | The Photon | @BenVoigt, fair enough. Re-worded. | |
| Sep 4, 2018 at 1:07 | history | edited | The Photon | CC BY-SA 4.0 |
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| Sep 4, 2018 at 1:02 | comment | added | Ben Voigt | Not sure if this applies to 100% of those cases, or only the majority, but.... the car hasn't been sold yet, the dealer does still own the car, and the purchaser is driving it as a "loaner" (secured by the down payment) until the paperwork is finished up resulting in a genuine sale. | |
| Sep 4, 2018 at 1:00 | comment | added | The Photon | @BenVoigt, I think that's true for new car purchases. But we see a lot of questions where the buyer drives away with the car and then the dealer calls a couple days later to say they couldn't secure financing. Who's the lender for those couple of days? | |
| Sep 4, 2018 at 0:58 | comment | added | Ben Voigt | Selling the loan is possible, but I think most of the time the dealer is not the lienholder for even an instant, the finance company is the original lender. | |
| Sep 4, 2018 at 0:51 | history | answered | The Photon | CC BY-SA 4.0 |