ThatTahoeOverThere

Even when 0% isn't available. Lets say you're a Chase Bank customer and they offer you a rate of 5.9 for 72 on a new car, Chase will sell that same loan to the dealership at 4.9.

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Do not finance through the dealership if you opt for financing. A dealership arranges financing through a lender, typically a CUDL system (Credit Union Direct Link) they secure a "buy rate" the lowest interest rate the lender offers you based on your credit score. However, they are legally allowed to add a markup, typically between 1% and 2.5% to the APR before presenting the offer to you. This markup goes straight into the dealership’s pocket as profit, costing you thousands of dollars in extra interest over the life of the loan. Secure financing on your own, don't let them know you have done this and focus the negotiation on the price of the car not monthly payments.

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Very few customers can go to a bank and get a better rate than what a dealership can offer. Maybe your credit union can but I only see that with credit unions that have certain criteria for membership. Banks sell loans to dealerships at a lower rate because dealerships buy a lot of loans. Its like the Sam's club effect, its less because they buy in bulk.

Your best bet is to negotiate with the finance manager(If you're walk on water credit) for a shave on the rate.

Thanks for everything Skip!

Toll Paid in reverse

Why are you overreacting?

Im flabbergasted

Let me ride that burra burra

Slick

I work on a wireline barge so................8

turn 50lbs of dog food into 70lbs of dog shite

So ok for big business to frick you but not the small business. Thanks government