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[quote=Anonymous]Shop around with local credit unions for the best rate. Use that as a negotiating tool. A dealer has no incentive to offer the best rate and there is a possibility they will mark up the rate to take advantage of the unsuspecting buyer. It’s also possible to use the financing offered by the dealer and then immediately refinance with better terms.

In the before times you could get a a decent rate coupled with a rebate or other form of incentive discount from the manufacturer’s captive lender and then turn around and pay it off within 30 days. The dealer would take a charge back from the lender but you effectively pocketed $500-1000. Also consider using a rewards credit card as a portion of the down payment for miles or other credits.

Circumstances may have changed but dealers used to be able to earn more on the backend of a sale with a financing deal and therefore would have slightly more room for negotiation on the sale price. Cash was never king on the sales lot.

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