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[quote=Anonymous][quote=Anonymous]Thank you so much for all the tips!  Just knowing the lingo "out the door price" and knowing to look for a prepayment penalty is great. And let's say the dealer ends up matching the credit unions financing deal. Is it better/easier/more advantageous to go ahead and finance with dealer (assuming terms are the same)?[/quote]

If you have a rate at a Credit Union the only reason not to use them instead of the dealer is if the dealer is willing to reduce the car price or add on (without cost!) extended warranties or other freebies. In the absence of that kind of concession my advice is not to use the dealership's financing arm even if they "match". The reason is that the "Business Manager" in whose office you will sit with the door closed will try and play games regarding term, down payment, etc. They get commissioned by trying to get more of your money. They will say anything to get their money, but there is (sadly) a delta between what they say and what's on the page. If your credit union gave you a rate you know what that is. By the time the dealership gets done spinning and dancing you won't actually even know if the rate is a true match.

By way of background and why I feel this way, I bought a new car last week. I had forgotten just how slimy car dealerships were. We paid cash and still had to go through 3+ hours of nonsense. I asked why the accessories were not given the 10% discount they were due. He left the room to "investigate" whether the manager would offer the 10%. I stopped him to correct him; it wasn't a question of "whether" it was application of the discount owed. There was the hard credit pull that we didn't authorize and then his lying about the fact that it was a hard and not soft pull. Then there was the obligatory sales pitch on extended and special service packages and warranties. And all of that was without financing.

If you have a loan from a credit union and you like the rate, use that. The less you have to deal with unscrupulous F&I dealership personnel the better.      [/quote]

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