dealer financing vs. outside truck financing

When I bought my truck, I stayed with my bank. I had a good credit rating, and excellent references, and they knew me, and will stand by you if something happens. The dealer will try their darndest to get that used truck out of their hair, if there's a problem, and you can bet with a 2015, you'll have you're share, the dealer finance will send it directly to collection, then the fun begins. Talk to your bank 1st, see if they think you can swing it, also, you are still putting the cart ahead of the horse. I'd make sure, and the bank may require it, you have a hauling contract all set up, I had to show my bank I was going to haul RR containers, and a projected income. Remember, it's a lot easier buying a truck than getting out of it, trust me. Good luck.

 

A related question: anything wrong with putting in several loan applications, for example, at the dealer as well as at my bank?

 

Yes, each place you put an app in will run your credit report. Each time lowers your score, and the credit agencies also ding you for too many credit checks in a certain amount of time.

You said two and several. Two credit reports won't ding your score that much, several credit reports will.

 

I've heard any reasonable number of applications in a 30 day period was considered as one. If it's for the same purchase.
SBA is full of cash to hand out. At least ask them.
Good luck.

 

I put in an application with them six months ago. Still no decision.

 

Lone Mountain might be a possibility.
How It Works | Lone Mountain Truck Leasing

 

22 years ago, I walked into a Harley dealer. Told them I was interested in this 2 year old low mile Dyna. Asked how I was gonna pay for it. Told him Check. I had the ok from my banker lady. I only needed to call with amount, and write the check. Salesman goes away, comes back and tells me I'm not approved with HD credit. I blew a gasket. They were also a Metric shop back then. 2 sides to building. He found out that I had been buying Honda dirt bike parts, and had a few engines built by them. And in good standing. I have a Harley and 2-3 times a year I stop in there and look around. When asked I tell the story. I tell them I only come in for test drives, and to remind them how they F'ed up. Childish, maybe. Makes me feel good.

In house financing is never the best option. My bank actually called them to inquire if my credit was checked legally.