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Old 12-25-2010, 12:15 PM   #8 (permalink)
detroadster
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Join Date: Apr 2010
Location: Seattle
Posts: 24
Drives: 1969 Datsun & 09 370
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It's quite simple actually. The dealer gets a kickback from the lender. So, it's in the dealer's best interest to get you to finance through one of the banks they deal with. You walked in with your own financing and said "No thanks, I have my own financing lined up already." The dealer stands to lose a couple hundred bucks in kickback if they just say "Oh, OK, never mind on the financing then." What they want to do is pull your credit and see if they can get you a better rate than what you currently have secured. Too bad they didn't just tell you the truth instead of acting all shady.

Every time I buy a car I line up my own financing first and tell the dealer "No thanks I have my own....Unless of course you can beat the X percent I have lined up." I usually throw a number out to them that is 1% lower than what I actually have. I have yet to have them NOT be able to beat it. For example, when I bought my Z I lined up 4.5% through USAA. I told the dealer I had 3.5% and that I would be shocked if they could beat that. Sure enough, they came back with 2.9%. Done deal.
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