I worked in car dealerships for three years and the only rates lower than the dealerships were with credit unions. I would try going to your bank first. If you have a checking and savings account you should be able to get a pretty low rate. They may also lower it by a smidge if you auto deduct your loan payment directly from your checking account. If the dealership can do better go with them, if not go with your bank.
If I remember correctly Wells Fargo does not due primary lending for auto loans. Every customer I had with Wells Fargo was secondary. With 716, 694, 684, you should be a solid primary customer.
Unless things have changed you can do better than Wells Fargo.
I don't want to say anything about how it dings and for how long, as I'm almost certainly remembering it wrong.
I will say this though. Dealerships don't matter banks due. With your scores you shouldn't have a problem getting a cheap loan. But, hundreds of times I have seen people that will go to 5 dealerships in 2 days and were told by every single one they didn't have the credit to buy a car. All dealerships (doesn't matter what brand) use a network of lenders primary and secondary. In alot of cases the same group of lenders. If you go to 1 or 2 car dealerships and they can't get you into a car, going to three more is only gonna screw up your score with inquiries and waste your time.
Message Edited by uptomyneck on
08-04-2007 08:16 PM