# Auto Financing 101 - and Loans in General

**URL:** <https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895>\
**Category:** NYSpeed Off Topic\
**Created:** [December 28, 2007, 10:44am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895 "2007-12-28T10:44:41Z")\
**Posts on this page:** 1\
**Showing post:** 43

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**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\
**Post date:** [December 28, 2007, 1:23pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/43 "2007-12-28T13:23:57Z")

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> [@Nikuk](#):
>
> Depends on the car, the market, the dealer, and the sales/financial rep.
> 
> FWIW, I recently helped someone (iffy credit, great income) buy used from a well known used dealer.
> 
> He went in with a approval ready to sign, it was for 12.5%, though I told the sale rep it was for 10.5%.  
> The sales rep glanced at it, told the finance rep to beat 10%  
> 1.5 hrs later they called with ~9.49% (or there abouts).  
> I lol’d @ him on the phone.  
> 30 mins later it was for ~8.49%.  
> He went in & signed the next day.
> 
> For reference, at the time through the banks direct lending (bank to consumer, no dealer) the loan would’ve been priced @ 10.99%. I checked.
> 
> :tup:

it will also be affected if the bank gives the dealer a special rate because they do a large amount of business with the bank. we do a ton of buisness with M&T Bank and they will almost always give us what we want because they don’t want to lose the loans we give them

EDIT: This thread has the best info in it out of all the “Finance you car advice” threads, +1 for Nikuk

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