HI All

Sykobabble

Sykobabble

Well-Known Member
54
10
Chicago
Vehicle Model
Civic Si Fast Edition
Body Style
Two Door
Hey everyone! Looking to jump the gun on 2013 Si. Just wondering what everyone thinks about when dealing with the sales rep. Basically my only question is (ive done alot of buying and selling of vehicles) would it be best to tell the rep that i have financing right up front or should i hide that fact and work on the best price first? Thanks all!
 
Dealerships can USUALLY get you the best interest rates, so hold off until you're sitting in the financiers office. I walked into the VW Dealership where I purchased my MK7 with an approval through Chase and they were able to beat it by a whole percent. It sucks having all those hard pulls, but it could save you money in the long run.


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I would not mention a thing. Credit unions tend to have slightly better rates than "banks". Call around and get some rates. Let the dealer also pull rates for you. They deal with tons of lenders and can sometimes get better rates. Then you at least know your options.
 
Credit isnt so well. I got preapproved with capitol one. Should i still just stay with them considering capitol one deals with this sort of stuff? They seem to do well with getting an approval.
 
I don't follow. You got pre approved with capital one on your own, correct? When/if you find a car you want to buy, let the dealership run your credit and tell you what offers/interest rates are available to you (when you're 100% ready to buy/sign for the car). If your offer from capital is better, tell them that. If the dealer has a better rate.... use that.
 
webby said:
I don't follow. You got pre approved with capital one on your own, correct? When/if you find a car you want to buy, let the dealership run your credit and tell you what offers/interest rates are available to you (when you're 100% ready to buy/sign for the car). If your offer from capital is better, tell them that. If the dealer has a better rate.... use that.
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Yea i guess im concerned about running my credit so much. And then also the possibility of the dealer not even approving, and then taking the hit. With capitol one it seems guaranteed as long as i show proof of income which is pretty decent. Mostly i just wanna talk sticker price and if telling them im preapproved doesnt help negotiation then im keeping that to myself till the end.
 
If you had it run at the bank that's fine. If you have it run at the dealership it's fine. Pulling your credit multiple times for the same type of thing will not negatively hurt your score within a reasonable time period. Most of the time you'll see things like 14 days to like 1 month where it doesn't hurt you. So if you have multiple companies all pull your credit for the same reason (auto loan), it is essentially looked at as like 1 credit pull (despite maybe having 5 banks or whatever give you rates). If you go pull it for a new phone, a car, a new house, new credit card etc etc all within a very short period it can negatively impact it.

Talk sales numbers on the car with the sales department. Financing is it's own department at the dealership. The salesman gets you the sale price and that's it. When you go to close the loan, you'll talk to the financing department where they will pull your credit and tell you the interest rates you can get. They'll tell you the monthly payments and so on. Being pre approved doesn't help you in negotiations. They want you to use their financing, because they make money off of that.
 
I dropped the pre-approval mention on my financier after discussing loan terms and offers. Dude said they could beat Chase's terms despite what was in front of me. I signed off on the car without even knowing who I was financing with. They called me the next day and told me I'd be banking with Wells Fargo at the agreed upon numbers. They'll make it work if they know it's a guaranteed sale.


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Just an update. I took home a 2013 SI with 35k miles at 16k sticker price. Figure I didn't do too bad. It is the premium trim model as well. Thank all to everyone, the ride is sweet!

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Sykobabble said:
Thanks all, greatly appreciated. I think I'll like this forum.
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:thumbsup:

Gotta watch out for that @webby though :hiding:

Sykobabble said:
Just an update. I took home a 2013 SI with 35k miles at 16k sticker price. Figure I didn't do too bad. It is the premium trim model as well. Thank all to everyone, the ride is sweet!

Sent from my Pixel using Tapatalk
Click to expand...

Congrats! :thumbsup:

Random: How you liking the Pixel?
 
bootyluvr said:
[emoji106]

Gotta watch out for that @webby though :hiding:



Congrats! [emoji106]

Random: How you liking the Pixel?
Click to expand...
It's a good phone, clean and fast. Great camera
52e15886858587f17c6caa3b70a06a94.jpg


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Is that middle area open to whomever wants to park there from the neighborhood?
 
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