Should You Finance Your Car Through CarGurus? New Finance Option That You NEED To Know About!

Today Ray and Zach discuss how CarGurus is piloting an integration between CarGurus and RouteOne to allow users to pre-qualify for financing through the CarGurus website. What impact does this have on financing for you? Learn more!

0:00 Introduction
1:05 CarGurus finance options
4:10 This should make it easier for you
6:30 What's Ray's take?

[initiald]

I had bad credit and carguru financing was able to get me approved for a car even through it wasn't the Best rate I didnt care because I paid off the car in a few months, it allowed me to help boost my credit.

[magellanmax]

Any dealership that makes me drive all the way to their shop only to give me the runaround because they don't have the car loses my business for good and I reward them with a one star review on any site I can find them.

[ryansparks]

First! Just want to say I'm in the process of looking for a used car and watching your videos has been extremely helpful!

[thesniper]

Hey guys my mom actually did a pre qualified thru capital one which is suppose with car gurus and she said her pre qualification was spot on accurate

[Kameron]

Great videos. Could you guys make a video about Co-signers? I heard if you have like 4 or five lines of credit you don't need a co-signer. Thanks have a great.

[bandar]

Thanks for this channel, i really learn a lot. Since you brought car gurus, what do you say about the scams used by car dealers. For example, I am looking for new Chrysler 300. In car guru price between 21k to 24k. But when I went to get them the price jumped from 21k to 29k. One of them offer 18k for new one. But when you call to check if that’s real the price jump to 38k to same car.

[avocadotortilla]

I have a huge question when it comes to buying a car, so not sure if it was this video or a different one but you guys were talking about getting a car financed through the dealer I believe or brand/make of the car if they offered loans like GM or Toyota financial, anyways you talked about getting the deal from them so you can get incentives and whatever promotions and than pay off the loan before the first month's statement comes out! My question is wouldn't getting the loan add like interest to it? Like lets say you take your loan for like $25k right? And you get like a idk 4 or 5% wouldn't they add that percent of interest to your 25k before you get your first payment so they give you a total of what you owe? Or if you paid it before your statement came out would you only owe like those $25k that the car originally cost?

[dildarkadir]

How accurate are pre qualifications thru for example on CapitalOne Auto Navigator and Chrysler Capital?

[onenickelmiracle]

Are these loans able to be paid off early without penalty? It seems the prices on Carvana are more, but their interest rates for me are lower and I can pay the loan early thereby reducing total interest.

[donbaxley]

Not clear on this.? Is this pre qualification a hard inquiry on my credit? Once you fill out the pre qualification is it for a certain amount of money? If so can you go to any dealer then find a car and say I'm qualified for that amount. Isn't that the same as paying cash to them then?

[thHellhound]

I had a salesman try that "oh it just sold" on me so I just got back in the car

[Donswavey]

Liking the video just off the humor in the beginning lol😂😂

[manuelrodriguez-mlff]

Question: Do dealers actually have employee price or discount sales? I’ve seen a commercial that said employee price sales. Thank you for your amazing videos

[Jean-yfdg]

So it would be a good idea to apply for financing through the dealers website? You would recommend this, because it gets the ball rolling, they do the credit check and you're able to negotiate a lower rate depending on my credit? I hope to buy a Honda HR-V and 0 Iknow that the interest rates through Honda are pretty good these days!

[BPawn]

Another great vid. My question is what terms should we look for in auto financing, other than the rate? A whole percentage point only changes the payment by $20 on a 50k loan for 60 mo.

[thealphaomega]

Zach mentions “space” often. Allow me to submit my dimensions. I am a loan officer at a local credit union. My designated space is approximately 12’ x 14’. My desk phone is the vehicle by which members may occupy my space and by which I may break out of the same. All the best.

[zapatajrjuan]

Great job, really like this channel.
What you guys think about buy a car thru VROOM?

[ryanphillips]

Even tho cargurus asks for the ssn of the individual getting pre qualified, it still doesn't effect one's credit report negatively? Any help would be appreciative!

[thomasconrad]

Could you do a show on whether it is wise or not to buy a hail damaged car from a dealer who repaired the damage? Can you get the same financing? Is the insurance different with hail damaged repair? Thanks. I live in Texas and there are a bunch of hail storms and big discounts on cars.

[kirkdunn]

think just getting your own from credit union or bank is best way, and also super same thing your already pre qualified before you they have to beat it or just hand them a check and walk out the door