oughtsix wrote:
B.O. Plenty wrote:
Cash or finance, won't affect the price. The dealer gets cashed out either way. In fact they would probably prefer financing you as they get a little kickback from whomever finances it. 30-35% off their "list price" is what I would shoot for. No dealer prep or PDI charges either...
B.O.
Financed interest rate - Market interest rate = dealer profit. I.e. the higher financing rate they can get you to put your signature on the more profit they make. Used cars work the same way. Same with mortgage brokers.
I thought the same thing. My dealer financed me through Bank of the West with the lowest rate I could find, lower than our bank, credit union, etc. When we got the papers from Bank of the West they informed us they were dropping the rate 1/2 of a percent based on our good credit. I'm sure there is some margin in it for the dealer, but I was surprised to get a lower rate I did not ask for.