Can you deny the terms and bank?

[Skye12329]

I've been thinking, when you ask for the dealer to try and finance you. And they get you approved. If you don't like the bank or APR can you deny the loan? What i mean by deny the bank is e.g i don't think/know if i would wanna deal with Ally financial and would prefer someone else. Could they attempt to get you a different lender or can you still walk away.

[Anonymous]

You are totally in the drivers seat when financing a car.  Not only can you decline the terms often times the dealer has marked up the APR by a couple of points so you can negotiate the APR.  Personally I won't go into any dealer any longer without a preapproved loan because dealers frequently exploit financing for anyone that doesnt have tier 1  credit.  Having a preapproval sets a deal for them to beat, most of the time they will want to beat it but if you walk in with nothing what do they have to compare against??  

[Appleman]

You are in control until you sign on the dotted line. Here in Kansas there is no 'cooling off' period for car purchases. If you are not comfortable with the terms, do not sign. 

[Skye12329]

Thanks! I might be starting a new job and we are talking about getting another new car from the same dealership later this year. So far we have Chase and are enjoying them. We might try to apply outright with Chase and bring in the loan then. Worst case scenario, i ask dealer to finance and such.