patviv said:
Hi,
Did anybody use peoplefirst.com loan ? They said on their web site you will
get a blank check up to the amount that you approved for, all you have to do
is pick you car and exchange the keys for the blank check. Is that so simple
?
i applied for financing and they fedexed a blank check. i ended up not
using it though but it was good to have at the dealership when negotiating
financing. the dealer first proposed 4% financing and i said nevermind i
have my own financing and then countered with 1.9% which i accepted. i
really think if i didn't have the check with me and they could see i had it
that it would have been much harder to get them down. be warned though that
if you live in the tristate area (ny,nj,ct) some dealers try to tell you
they refuse to take those checks and will only accept a bank check. my
dealer tried to do this. peoplefirst puts a letter in the package about
this. there is a number you can call for the dealer to talk to them and
they will wire the funds instead. i also secured financing beforehand
with eloan but they don't send a check, just paperwork via email. rates for
both were a lot better than my credit union. good luck.
- dawn
