2006-07-20 12:31:35 · 6 answers · asked by davidgherron 1 in Cars & Transportation ➔ Other - Cars & Transportation
Probably none, unless they have different rates on different credit scores.
2006-07-20 12:33:15 · answer #1 · answered by JeffyB 7 · 0⤊ 0⤋
Yes you can negotiate the rate. The better your credit (FICO) score the better you can negotiate. Go on-line to CapitalOne and apply for a loan. You get a reply in under half hour. Once approved, print off the approval than use it to negotiate. I took a rate offered by the dealer from 11% to 5.25%.
The dealer makes money on the spread that they are quoted by the lender and what they get you to agree to. In my case I have the lender quote in hand, at a very good rate and they matched it making a few hundred bucks instead of thousands. Be sure the dealer is not quoting you a loan that has a prepayment penalty, that is just a way to guarantee a return on the money they loaned if you prepay it before maturity or in less than a yr or 2.
Credit is granted to those who earn it, and use it wisely. The better your credit the more opportunities you'll have in life to purchase things on time. Failure to pay as agreed will cause you to loose your credit privileges.
Do not buy on emotion, but based upon your need. Do you need an SUV or just want it? A van? Would a station wagon do? Or a smaller truck with a trailer do as well as a larger more expensive truck? Consider what you are doing and the feasibility of the project. If the dealer senses you are buying and can't wait to get it home, congratulations you just lost your negotiating power! Keep all this in mind and good luck.
2006-07-20 13:11:43 · answer #2 · answered by hithere2ya 5 · 0⤊ 0⤋
The better your credit rating the more room you have to negotiate. Car dealers will give you a lower price on the car and recoup it on the financing. With all the options available today especially via the internet, there's really NO reason to finance through the dealer unless you have really bad credit. You can go to your bank or other lenders and be pre-approved before you buy your car, new or used. If you visit www.edmunds.com there is a section there that provides a basic car buying tutorial, including the details and options available when it comes to financing.
2006-07-20 12:55:40 · answer #3 · answered by imdmutt 2 · 0⤊ 0⤋
Everything is negotiable. Especially the selling price. Depending on what bank the dealer uses, interest rates may be fixed. Find your own financing. And make it clear that you don't necessarily need to purchase THAT particular car at THAT dealer.
2006-07-20 12:36:03 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The best way is to go to your bank first and find out what rate they will give you. Then go to the car dealer and if their rate isn't lower, tell them that you have a lower rate and that you want them to beat it - they probably will.
2006-07-20 12:35:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
depends on how much you have saved to put as a down payment
2006-07-20 12:35:30 · answer #6 · answered by Anthony V 4 · 0⤊ 0⤋