Can I negotiate the quoted auto loan interest rate I’m offered?
Probably not. While there certainly may be exceptions, the rate a lender will offer is usually not negotiable. A lender uses a complex set of criteria and analytics to determine your auto refinance interest rate, and that rate is a reflection of your risk, the cost the lender pays to borrow the money, and a margin for expected profit. Additionally, most lenders try to avoid rate negotiation, as it opens them up to further regulatory analysis. You won’t be penalized for asking about a rate discount, but don’t feel bad if you are told that the rate is not negotiable.
