TexasCHLforum.com

SQLGeek wrote:

RoyGBiv wrote: If the dealer offers you a better deal (first time the dealer beat my bank by 3/4%), just tear up the check. No harm, no foul.

In the few cars that I've purchased, I've found that I get the best rates from the dealer. When we bought a truck for my wife, the dealer said they will go as low as X% (I don't remember what). I said, OK well we have our own financing lined up. Magically they dropped it another .5% below my credit union's offer when the credit report came back.

It always works best when you show them you have other options.
Get the best deal you can outside, then let the dealer make you an offer, then show them you've got a better offer in hand.
If they can make you an even better offer, try not to be offended they didn't offer it to you until you showed them your hole cards.

Last two cars I purchased over the phone based on an online ad.
Had the dealer email me the detailed specs on the vehicle. Looked up the dealer cost, deducted any incentives, added $500.

First one the dealer turned me down, but called back 2 days later and accepted my offer.
Second one (last year) the dealer countered at an additional $250 and I accepted, drove over and brought the car home.

Walked in with a check, filled out the paperwork, said "no" to all the add-ons. Was in/out last time in about 30 minutes.

Arrange financing in advance... Your lender can hand you a check marked "not to exceed" and you can write in the final amount on the spot. If the dealer offers you a better deal (first time the dealer beat my bank by 3/4%), just tear up the check. No harm, no foul.