GDawgA4

Originally I had been approved for 5.9% through Audi for financing (wanted to see what Audi would offer for a rate). I then got a rate of 5% from my savings bank who wanted my business for the loan.

Now when I call back and let the business mgr know that I am going to finance through my savings bank, he goes, I can re-submit to see if I can get you a lower rate, he can do it for 4.9%... He says, it's more trouble to go through your savings bank because there's lots of faxing of the Purchase and Sales agreement, then you have to go to the bank and get the check then bring it back, so just inconvenience....much easier to go through the dealer so you only make one trip. While I realize that, it's not that big of a deal to make two trips instead of one. I said I'll call him back later to give me some time to think about it.

Do dealers make money off of financing if I go through Audi? He seems to keep pushing me to finance through Audi while I'm pretty much set on going through my savings bank...help please.

LAK

And no, it is not consumer fruad that they don't disclose this to you. No duty to disclose profits.

Chekm8

of where I fall. I went to Audi and told them that my credit was that and so they gave me a 1% below what my credit union offered me.

I have another credit union who would have given me a lower % but I needed to put a down. I couldn't wait to save for a down since i had my money tied in other areas so I took Audi's.

8.5 months later, I went to the 2nd credit union and told them i wanted to refinance and they gave me a rate that was comfortable for me. mind you Interest rates were at an all time low within the 9 months I got my car so i got a lower APR.

you really don't have to go through the dealer. all you need is the pre-approved letter and then tell them i want the car and this is how i'm going to finance it. THEY have to call the bank and work the information because i doubt that if you bring a letter they will let you drive the car off without fully figuring out who's going to pay for it.

if you really want to make it easy. talk to your bank people and tell them you need a rep to call the dealer and they can finalize it there.

sounds like your dealer isn't very helpful if they expect you to jump over tons of hoops to get what you want. they should make it easy.

GDawgA4

I called the loan manager (who worked with me to approve my loan) and questioned the "delays" in the process. I was told once they faxed the P&S forms to the insurance and bank they file it and I just have to setup an appointment to sign the loan agreement and I get a check made out to my name and the dealer (takes all of 15-20 minutes I was told) and I just bring the check back to the dealer and done deal. Just wait for plates and off I go.

The finance manager is kinda rude, I don't like working with him. My salesman is cool tho.

Chekm8

the Finance guy's word for it. always other ways around things depending on what you want to do.

seems like you're all set! post pics when you get your new toy!

GDawgA4

yeah, even though he offered me a lower rate of .01% ($1 / month difference) I am going to go with my savings bank. First, he's rude and second, he waited this long to tell me, "oh, I can do 4.9%" after I get approved from the bank.

i'm going to call him in the morning. he'll probably still try to salvage the financing.

Chekm8

kool, good luck!

SonNo007

hmmm....make them lower it and act cocky about ur credit. i bought my certified used one and they didnt put up a fight at 4.5%, you may be able to get it lower cuz they would rather make some money off of financing than none.