When I’ve financed cars through dealers in the past, they usually bounce my credit off of several lenders and I’ve ended up with rates competitive to what I would get outside the dealership. I recently bought a CPO BMW from a dealership owned by AutoNation, and they apparently have their own financing arm and don’t to go external banks. Because of my prior experience at different dealers I didn’t do any external pre-qualification, and they offered me 7.99% through AutoNation finance. I have excellent credit and knew I would qualify for a lower rate, but just to get the deal done I signed knowing there was no pre-payment penalty and…
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