Tips on Buying Cars: buying a car from a bank, money to the bank, installment payment

Question
please is it possible for me to be in contract with a bank, whereby the bank buys a new car for me from an auto dealer,then i pay back the money to the bank through monthly installment payment for some given years.if so, how much would the bank sell it(the car) if they bought it for let say $40,000. Thank you.

Answer
Jamil

Thanks for your question. The answer depends on your bank. There are banks or credit unions that will buy the car you want from a dealer and then sell it to you but I can't tell you if your bank will. You generally have to be a member of that bank for them to offer that service to you. There isn't a bank that does it that I know of without you being a member of that institution. Now as far as the profit that the bank will make o. You. That also depends on the bank but it is usually $600 to $1000 over what they paid for it.

Hope this helps.

Thanks - JB