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I am not in finance so I am not certain. Like in subprime mortgages where there are usually nasty penalties for refinancing (usually in the 5 figures --Hello Countrywide), who knows what kind of financial terms Christian got. He claims he has somewhat shitty credit and is using dealer financing, who knows what the caveats are. Today, I can get up to a five year auto loan from my credit union for 5.70% of up to 120% of MSRP compare that to the 9.24% he got.



Like mortgages, finance guys at dealerships have the ability to mark up from their par rates to make money on the back end. Seeing that Cxxx had a low fico score, the dealership marked up the rate from their buy rate.

A smart always walks into a dealership with outside financing. NEVER get financing at the dealership even with a high FICO score. Get financing first at your credit union, local bank you bank with, or national banks. Last resort is financing with manufacturer bank unless you are leasing.