Already Have Financing?

Very often customers come to Lux Auto Plus with financing already in hand. Perhaps they have been approved by their own bank, credit union, or other lending institution before they ever step foot in the dealership. In this instance, people often ask, "I already have been approved for a loan- so why should I finance through one of your banks?"

The answer is simple: It wouldn't hurt to find out what we have to offer.

More often than not, we can offer the same loan rates and terms as you already have- but we can save you the trip to your bank. A lot of times we finance through the SAME bank or credit union you have an approval with, so you can complete the paperwork here instead, saving you a trip to the bank.

Otherwise, sometimes you wind up buying the car here, then driving back to the bank with the purchase agreement and finalizing terms with the bank. Then you have to wait while they draw up the paperwork, sign the paperwork, come back here from the bank to complete more paperwork- and then go to your insurance company, and only then can you go to the Registry of Motor Vehicles. That's a lot of running around.

Instead of all that- you could just complete the paperwork here.

(And of course, there's nothing worse than doing all that, only to find out we do business with the same bank and you didn't have to bother in the first place.)

A lot of times we are able to offer a better rate, or better terms than what you already have in hand. With much less hassle.

The reason for this is simple: Volume.

The typical consumer takes out one auto loan every five or six years. But on average we arrange anywhere from 50 to 100 auto loans every month.

We do business with many, many different lending institutions- far more than one single consumer is likely to even consider. Given our buying power and the sheer number of lending institutions at our disposal, it's no wonder we are often able to provide our customers with better, (and more convenient), financing terms.