just trying to warn ya ppl

a dealer give ya'll evo at msrp but they may jack up the % rate on the loan

i'm sure 9 outta 10 ppl on here is not gonna pay in full

so what i recommand try to find a bank and apply for a loan yourself b4 you actually go to the dealer so once you got the msrp deal show them the check from the bank and then they can't back it out

dont try to apply a loan from a dealer this is where they make money it doesn't really matter how good yoru credit is it's

 

A dealer can NOT jack up the interest rate on the loan unless they are doing the financing themselves inhouse, which is more than likely not usually going to be the case. A dealership cannot afford to be a bank and a car dealership all in one.

Just make sure they say (on the contract) that they're going to sell the car at MSRP. I know the dealership I'm working with very well and all the cars sold there will be at MSRP, like every other car they sell. It's sad though, that there has to be crappy dealers like that who can't sell it at MSRP and have to jack the price.

 

heh i guess you dunno how dealer's finance work huh

inbetween banks and dealers the percetage are 3 % differents

at least they can get a loan from a bank at 6 percent under your credit then resale it at 9 percent back to you or more

anyways for these out there i still recommand get the loan outside dealer you always save more

 

I've never heard of this, but who knows what trickery they can pull.

 

The dealership essentially buys the financing at a "buy rate" and can charge a different rate than that to the customer. Usually only about a point. The dealership keeps the difference between the two rates. This is how the finance managers get paid. When your selling a car for $100 over invoice, this is the only way to make money. The buy rate is not necessarily a rate a customer would qualify for outside of a dealership. There's nothing wrong with securing financing on your own then telling the finance manager "this is what my bank will do, what can you do."

What you don't want to do is get your own financing, show up with a check and then find out the dealership has a bank that would get you done for 2% less.

Of course, none of this applies to factory incentives, which won't apply to the EVO anyway.

 

Just because you get approved for a loan from your own bank doesn't mean you have to apply it at the dealership. My bank will give me 4.75% for 60 months. So I'll go get approved and if that's lower than what the dealer will offer me, then I'll stick with that. But if the dealer is offering something lower, then I'll use that. It's about options and negotiating.

 

Precisely my point.

That's a hell of a rate BTW. Unlikely you'll do better.

 

this is exactly what dealer does but
yup but then again always check at a local bank of yours first see what you can actually get cuz you dont want to do a double credit check if you think you can get a good loan at the bank go for it