A car buyer sees a bank approval of six percent and a contract rate of eight percent at a dealer desk

published / Car loans

Bank Approved 6%. Your Car Loan Says 8%. Here Is Why

The lender can approve one rate while the contract presents another, and the gap can become dealer compensation.

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The system receiptThe hidden rate inside dealer financing

Example approval6% buy rate

Example contract8% APR

Question to askWhat did the lender approve?

What is happening

The emergency gets you into the chair. The monthly payment keeps your eyes off the total.

In dealer-arranged financing, the lender can quote a buy rate to the dealer. The contract rate offered to the buyer may be higher, depending on the lender, dealer, contract, and law.

Read the receipts

Sources, not vibes.

Claims and rules can change. Use the current source pages and the documents in front of you.

Take the next door

Turn the pressure into a plan.

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