What are the drawbacks of using manufacturer financing to buy a car?

[Bob]

Manufacturer financing for car purchases offers advantages such as low thresholds, low down payment ratios, long loan terms, flexible approval processes, and fast processing speeds, which are reasons why many people choose automotive finance companies. However, there are pros and cons. Besides the benefits, manufacturer financing also has certain drawbacks. The disadvantages of using manufacturer financing to buy a car are as follows: 1. High insurance costs: Some automotive finance companies stipulate that if you use their financing, you must purchase car insurance from the 4S dealership where you obtained the loan. In some cases, the insurance offered by these dealerships can be more expensive than buying directly from an insurance company. 2. Cannot enjoy both discounts and low interest rates simultaneously: If an applicant applies for a car loan through an automotive finance company, they cannot enjoy both discounts on the car price and low interest rates at the same time.