Used Truck Dealer Financing: Is It Worth It?

There’s this used truck in Reno you’ve been eyeing and wanting to buy, but you’re worried it’s going to break the bank. It could (trucks, used or new, are expensive), but not if you’re smart about it. There are several ways to purchase a vehicle; you can pay with cash, but a better way would be to obtain financing. You can do this through a bank or credit union, or you can go directly through the used truck dealer you want to buy the vehicle from.

Most people opt to go with their local bank, since banks don’t mark up their interest rates. There are, however, certain advantages of financing your vehicle directly through your used truck dealer in Reno, and they’re definitely worth considering:

  • It’s true that banks don’t mark up their interest rates, and that’s great, but whatever offer you get from them is final. Used truck dealer quotes on interest rates, however, are negotiable.
  • Dealerships have relationships with lending institutions through which they offer their loans. This means they can offer truck buyers like yourself lower interest rates and lower payment, sometimes even lower than what your local bank or credit union is offering.
  • It’s extremely convenient, because the used truck dealer does all the legwork. You show up at the dealership with the required information, sign a few documents needed for financing, and then drive away.
  • There are perks! Used truck dealers sometimes offer incentive programs for their buyers, like rebates or cash back bonuses.
  • Refinancing. If you’re not happy with the agreement you struck with the dealer, you can always opt to refinance.

You’re probably wondering: What if my credit score isn’t so good? Will I still be able to finance directly through my used truck dealer?

While it is true that most dealerships rarely approve financing for buyers with less than stellar credit scores, it’s not always the case. Reno Tahoe Auto Group, for instance, designs financing packages based on your credit score, whether it’s near-perfect or not-so-perfect. This is due to the special arrangements we have with local and national lenders. Learn more about our used truck dealer financing options. It goes without saying, though, that the better your credit is, the more financing options will be available to you.

One more thing: As with all vehicle-related purchases, always do your homework before committing to anything. Research your market rate by acquiring pre-approval from a financial institution. Some dealerships also have online payment calculators, so you can estimate your monthly payment and even calculate your buying power. Lastly, make sure that you are buying from a reputable and trustworthy used truck dealer in Reno.

Need more information on financing? Contact Reno Tahoe Auto Group today! Our team is more than happy to answer your questions.


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