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6 Responses to “If we financial by a automobile dealership, could we ask for a improved cost upon a car?”

1. 10w5d until we meet Grant Ray says:

   September 7, 2010 at 1:45 am

   Definately try to get the lowest price possible. Even tell them that your looking at another one at a different dealer to try to get them to lower your price or interest rate. Make them come to you, tell them to call you with a better price, and with the way the economy is right now, they will call because they want to sell the car, you should be qualified for the loan first though. I have seen on the news the last couple of days that banks are making it harder for people to get approved for car and home loans.
2. Brian A says:

   September 7, 2010 at 2:27 am

   Yes, you should negotiate the price of the car before talking about financing at all. Don’t let the salesperson try to stear you towards talking monthly payment.
3. mccoyblues says:

   September 7, 2010 at 3:21 am

   Negotiate for the lowest possible price on the car. Once you are satisfied that the car is priced right,then ask them to beat your bank’s interest rate. If they can’t, keep your finance business to your bank.

   If you let them sell the car based on monthly payments they can cook the books and get you into a loan that won’t be in your best interest.
4. gotwheels3ne says:

   September 7, 2010 at 3:52 am

   First of all, whether you are financing thru a lender or a dealership itself, the first thing you do is get the best price. Never pay retail for a car, no matter how bad you like it. If the dealer is willing to match the banks rate, then you should bargain and bargain hard and smart. I’m a dealer and I’m going to give you a few hints. We as dealers get what we call a buy rate from the banks. This is what we are buying the rate for, bank may say 6%, we in turn will tell you maybe 8%, this is called our reserve , the money we make monthly from the bank the extra 2 % interest. That’s why we love to finance we make more money than cash sales.
5. Stupid Flanders says:

   September 7, 2010 at 4:02 am

   Keep in mind that these are 2 different transactions, so the price of the car should have no influence on your finance rate and vice versa.

   The only time it would is if the dealership is offering something like 0% financing and you have to choose between a rebate and the special financing.

   Find out what you should be paying for the car on a site like http://www.edmunds.com. They will give you what is called a ‘true market value’.

   In regards to the financing, I would tell them that you are going to stick with your bank unless they can beat that rate.
   They have to give you some sort of motivation to use their financing and matching isn’t it.
   I would hold out for at least another .5% to 1% lower.
6. Laissez-Faire Guy says:

   September 7, 2010 at 4:12 am

   Like some of the others have said. If you’ve already got financing locked up with your bank, negotiate hard on the sale price of the car. Then when wrapping up the deal, if they can offer better financing, take it.