@Anonymous wrote:
They lie they lie they lie. I’ve never had a car dealership SP me ever, there always HPs. Get it in writing. Furthermore you should go get your financing elsewhere and then go to the dealership.
You should always try to find the best auto loan rate yourself before going to the dealership. If you walk into a dealership with a pre-approved auto loan for let's say, $25,000 @ 3.75% then you can skip the "how much can you afford a month" BS negotiation and focus on the out the door price of the car.
Once you have negotiated the out the door price of the car then you might consider letting the dealership try to beat the interest rate of the loan you have been pre-approved for.
Dealerships make money by adding points to the interest rate. The dealership might be able to finance you at 3.75% but only offer you a 5.75% interest rate loan and pocket the additional 2% as profit for themselves.
Remember the dealership finance office is the most dangerous point in your car buying journey and your best weapon is to be willing to walk out of the dealership if they are unwilling to meet reasonable requests.
