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Old 09-16-2020, 02:53 PM   #65
Hot Camaro
ember1205's Avatar
Drives: '20 2SS Convertible 6MT
Join Date: May 2020
Location: CT
Posts: 1,254
Originally Posted by Redlinez View Post
I've bought around 60 cars in my time since 1989 and with good credit, you can often get a better rate from one of the dealer's lenders than your own. I've gone back and forth with Navy Federal as well as dealer lenders.
Similar here to the point that I simply stopped checking with local lenders. I've only ever secured a loan outside of a dealer one time because I could get better rates on my own.

If you have excellent credit, the dealer will typically be able to get you rates that are "at least as good" as you can get on your own. The rates mentioned a couple of posts ago, though, are pretty good for the current market. So, a solid conversation with the dealer prior to allowing them run your credit makes sense. I did this sort of thing when I bought my Camaro this year to ensure that the dealership understood that I was looking for a very aggressive rate. They came back with two lenders that were close to each other. I wanted to use the lender with the higher rate and asked them about negotiating the rate down to at least match the other lender. The lender in question doesn't negotiate, so they lost my business over what amounted to a few hundred dollars over the life of the loan.

The real loser in that situation was me, though, as my loan is now being service by a lender that I hate. lol
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