MHC financing and another Financing group.

The o/o i drove for used red oak capital out of new jersey, id recommend steering clear of them, they called the shots on when and how much fuel he could get and how much he could pay for repairs. Still trying to get my last paycheck from him

 

What!? I think he borrowed from the mob. Straight financing from a bank doesn't come with that kind of BS.

 

Well a quick Google search shows way less negative reviews from Preferred Capital. But it's hard to say. With any financing I would look for low interest rate(6% or less) and no early payoff fee. If they can't meet that criteria at least then walk away.

Even with the good ones it's good to CYA. Make the payment online and screenshot the confirmation page every month. I've bought a few things on GE credit 0% for 60 months or whatever, and a few times they have tried to screw me saying I never made the payment(and they will apply interest from day one) and without that proof I would have been screwed

 

Is it a smart idea to send a copy of credit details etc. to different lenders and see what they offer?

 

It's your right as a consumer to check around. When I was in sales some people would say it hurts my credit when I run it.

That's partially true. Go to a dealership if they send your credit to 5 banks and then the next dealership sends you to 5 banks, that's 10 inquires. That hurts your credit.

But apply to a few lenders to see who offers you the best deal doesn't affect you unless you do that every month.

It's just common sense, just be clear to a dealership you don't want your credit "shot gunned" or sent to everyone and their brother.