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Oct 9, 2024
7:18
:01
am
Corn Pop
Intervention Needed
Though it's a good idea to find your own rate first as otherwise they aren't
very motivated to beat it. They obviously get a bigger kickback if they can get somebody to sign for a higher rate, hence the "slimy" part.
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Corn Pop
Previous username
BigCornThunder
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Corn Pop
Joined
Jan 26, 2009
Last login
Oct 9, 2024
Total posts
93,412 (6,297 FO)
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Messages
Author
Time
Outside credit union vs the financing dept
dingus79
All-American
6:49am
Few businesses I hate more than car dealers.
DirtyWater
6:55am
If you work through the dealership, even if you go get a check from the CU,
RexIdaCoug
6:57am
I’m worried about the girl who did the work to get me approved at my CU, will she still get a cut? Also I’d prefer not
dingus79
7:07am
Ask the girl. Tell the dealer not to pull your credit.
RexIdaCoug
7:15am
Stand your ground. Dealer financing depts are the worst. Don't worry about the
txblue
6:57am
They are often slimy, but I don't care where the best interest rate comes from.
Corn Pop
7:05am
Oh ok, interesting
dingus79
7:10am
Though it's a good idea to find your own rate first as otherwise they aren't
Corn Pop
7:18am
Most reputable dealers participate in a CUDL network. It stands for Credit Union
southbaycoug
7:20am
Thanks that’s great to know
dingus79
7:21am
Last time I dealt with dealer financing - I told the dealer I would fund through
BlueKarma
9:05am
If it's not going to cost me anything extra, I don't mind having the dealer process the funding
kccougar
7:05am
If I bail on my rep at my CU and just use the financing dept, does she lose the “sale” so to speak?
dingus79
7:09am
I can’t speak for your CU but a lot don’t have incentive programs tied to auto
southbaycoug
7:22am
TBH it seems like a huge hassle to get the sale order and have to stop by the CU during business hours
dingus79
7:12am
Dealer discounts the loan to the credit union and it amounts to a small profit
PhilPete
7:12am
1.25 - 2% on a flat fee. And up to 4% on a markup
RexIdaCoug
8:16am
Just tell him that if they want to sell the car to you to let you use your CU
7FootRussian
8:19am
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