Quote:
Originally Posted by 6MT-Z34
True, you think I should ask the dealer I order the car from or go to another dealer and find out if I can "lock" the APR and order a Z? Thanks for your help!!
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The dealer isn't going to lock anything until the papers are signed and you're taking possession of the car. Everything else is just words and not binding. And even then you have to read the written contracts carefully.
You can "lock" rates by having a pre-approved loan from a third-party bank or credit union. For instance, I applied to a local credit union, and got a pre-approved loan at 2.49% with a general understanding of about $40k price of the car with $10k down. That is then good for 30 days for me to get the car in and sign things with the dealer. At that time, a fancy dance occurs where I sign for the car, the dealer sends the title to the credit union, and the credit union foots the bill with my promise to pay them. Or however they want to handle it.
It's easier to go through the dealer, but ultimately you're losing money if the % differs.
(Or even with matched %, it might be worthwhile to still go through your third party if building a relationship with them is important to you.)