u/wild-magpie

Hello all, I am looking to purchase a new car (2026 Toyota RAV4 LE AWD, I live in Vermont), have already put down the deposit for first right of refusal, and have been asked by the salesman to fill out their credit application. My bank (USAA) is advertising a 4.29APR. Last I looked, Toyota financing was at 5.99APR, but my dealership of course has local/other options to use as well, which could be lower, I suppose. An important note is that I am in the position to pay cash for the car, but I am a little wary of laying down that much cash. There will be no trade in vehicle.

— If I get prequalified for a loan from my bank (hoping this might give me leverage), should I also fill out the credit application from the dealership before I visit them? I know they will make money on the back end if I finance from them.

— Will they see that I submitted a credit application to my bank? Is there a downside to submitting 2 credit applications?

— What financial advantage could I reasonably expect if I finance with them vs. paying in cash since they will make money on the back end?

Any and all help is much appreciated!

Edit: my credit score is 830.

Hello, my friend from Colombia will be visiting the US in June, and she asked me what I might like her to bring to me from there. What could be some things that I could ask for? I love things that are part of one's culture, but I also don't want to suggest something "expensive". I'm just not as familiar with Colombian culture as other Latin American counties. Any help is much appreciated!