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Old 09-16-2020, 01:35 PM   #63
Hot Camaro
ember1205's Avatar
Drives: '20 2SS Convertible 6MT
Join Date: May 2020
Location: CT
Posts: 1,215
Originally Posted by Invertalon View Post
Just as a point of reference... While awaiting for delivery of my Camaro in a few weeks, I was pre-approved through my credit union at 1.99% APR for 60-month... If I wanted, 2.49% was available for 72-month.

No penalty or fee for paying off early.

Curious if the dealer will try to beat it.
They would happily run your credit against various other lenders. Here's the rub:

Your rates are already very good. Running your credit again will hit your credit report and drop your score slightly. And, unless the specific lender that they are trying to get better options from is willing to negotiate, they likely don't have much chance of beating it.

There are a few lenders that will actively negotiate terms, but many will not. So, you'd probably be best suited to make sure you know your actual credit score and talk very frankly with the finance person to understand whether or not there is actually a chance that they can get you better financing.
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