Comments on: YAHOO ANSWER: Credit unions good for car loans? Not good; great! http://reinkefaceslife.com/2007/05/16/yahoo-answer-credit-unions-good-for-car-loans-not-good-great/ Wasting your time with things I find interesting, amusing, or enraging. Thu, 20 Nov 2008 10:54:06 +0000 http://wordpress.org/?v=MU hourly 1 By: Lane Cavalier http://reinkefaceslife.com/2007/05/16/yahoo-answer-credit-unions-good-for-car-loans-not-good-great/#comment-36088 Lane Cavalier Thu, 17 May 2007 11:34:05 +0000 http://reinkefj.wordpress.com/2007/05/16/yahoo-answer-credit-unions-good-for-car-loans-not-good-great/#comment-36088 Some credit unions will pre-approve you with a "valid up to amount" check included with dealer instructions. So you can potentially not only eliminate your "downside", but also have a better negotiating position with the dealer. I.E. you can say, "make it $20k and I'll write you a check now!" Dealers much prefer people with cash in hand (virtually that is) because it gives them present value, so you SHOULD be able to leverage that money to your benefit. Some credit unions will pre-approve you with a “valid up to amount” check included with dealer instructions. So you can potentially not only eliminate your “downside”, but also have a better negotiating position with the dealer. I.E. you can say, “make it $20k and I’ll write you a check now!”

Dealers much prefer people with cash in hand (virtually that is) because it gives them present value, so you SHOULD be able to leverage that money to your benefit.

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