Originally Posted by J08M3
yes, but I'm not going to get money for the same price a dealer will who does many transactions a year with a certain bank. Although i am curious as to when the dealer gets their share of the money, since the check I write every month for my payment is made out to the bank.
Sorry to side track from the original topic.
The dealer gets their money shortly after assignment of the retail installment contract to the bank, which generally occurs as soon as you execute the contract.
Yes, you most likely will get the same rate from a particlar lender as the dealer will get for you. You're ignoring the fact that either way, the bank is making the same loan (taking the same risk) whether you obtain the loan directly from them or through the dealer. Either way, the loan is yours, not the dealer's. All you're doing when you obtain the loan yourself is cutting out the middleman.