Originally Posted by TLud
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.
bank cuts us a check for amount being financed so tlud is correct, dealer gets the money as soon as the deal is billed.