Does it make a difference based on the order in which you do this? Once you have the application going is it possible to go back and forth to see how low they can get the rates?
1. Get dealer to apply to bank X and Y.
2. Take best deal to own bank Z and see if they can beat it.
- or -
1...
Thanks for the comment.
So my plan of action should be:
1. Find the car I want to buy.
2. Get the offer to purchase from the dealer.
3. Apply directly at my own bank.
4. Take the application to the dealer and ask them to apply to other banks on my behalf.
5. (potentially) take the applications...
This is my first time buying a car on finance.
I got a pre-approval letter from my bank, and my banker advised me not to arrange finance through the dealers because once they make the application, my banker is unable to get a better rate for me.
When I went to a dealership to look at cars and...