What Your Bank Won’t Tell You

Here at Leggat Chevrolet Cadillac Buick GMC we deal with every bank, including yours.

  • We deal with them all because banks are not the same when it comes to lending criteria and rates.
  • This is true regardless of your credit circumstances; excellent or with blemishes.
  • Since we do this multiple times every day, we know which bank is best suited to your lending needs for the vehicle you wish to purchase.
  • That is all that our Financial Services Managers do.
  • When banks compete you win.

Top Six Reasons Why You Shouldn't Use Your Line of Credit To Pay for a Vehicle

1. INTEREST RATES FLUCTUATE WITH PRIME WHICH CAN RESULT IN VARIABLE PAYMENTS
Unknown interest and unknown terms
Don't get caught without a backup plan

Default of payment for any reason allows the bank to repossess your home

Interest only payments result in long term liabilities without assets

Your bank has the right to demand payment in full, at their discretion, at any time, with or without cause. If you do not have the cash to pay off your line they will use their "Right to Offset"