Jack has an unusual job. He recently launched a concierge service, but it’s not about dinner reservations or luxury travel. Jack serves vehicle shoppers by negotiating better car loan terms. He spends a lot of his time on the phone with dealerships, helping regular people avoid some very expensive mistakes. All too often, he says, too many buyers get rushed through the finance process. They stay quiet, they sign, and they leave with a higher monthly car payment. So, Jack shared eight questions that can keep thousands in your bank account.

1. Which car loan term has the lowest APR?

Loan terms can be tricky. Many buyers assume that shorter terms always mean lower rates. 

Jack warns against that assumption. “36, 60, or 72 months. Never assume that shorter is cheaper.” 

Dealers sometimes offer better incentives on 60- or 72-month car loans, depending on the lender and how eager they are to close the deal. Always compare APRs across term lengths, not just the monthly car payment.

2. Which credit bureaus did you pull, and can I see each score?

Your loan rate is tied directly to your credit score. But you have more than one. “Make them show you every FICO score they pulled. If they cherry-pick the lowest, you’ll overpay.” 

Dealers often pull from all three major credit bureaus, but if they use the lowest score to determine your interest rate, you could get stuck paying more than you should. Ask to see all three and negotiate based on your middle or highest.

3. Did any other bank approve me at a lower rate?

Dealers shop your application around to multiple banks, but they don’t always disclose every offer. “Silence here can cost you thousands. Press for every approval.” 

If you don’t ask, they might only show you the one that gives them the biggest back-end commission. Make them lay all the approvals on the table so you can compare and choose the cheapest car payment.

4. How does the manufacturer’s captive rate compare?

Surprisingly, the best rate might come from the automaker’s own finance arm. “Toyota, Honda, Ford…sometimes they’ll beat outside banks by two points.” 

These captive lenders often subsidize rates to move vehicles, which means you could save hundreds or even thousands over the life of the loan. 

Dealers won’t always mention this unless you bring it up, especially if they’d rather you finance through a more profitable outside lender.

5. Does this loan carry a prepayment penalty?

If you ever plan to refinance or pay off your loan early, you need to know what that’ll cost you. “One hidden fee can literally wipe out your savings,” Jack warns.

Some lenders charge a penalty for early payoff or bake in fees that erase any interest savings. Ask directly, and get it in writing.

6. How many banks give full approvals on my amount?

“One lender means limited leverage,” the car payment negotiator explains. “Knowing that matters.” 

If only one bank says yes to the full amount, the dealer holds all the cards. But if three or four lenders offer full approval, you can use that to negotiate a better rate or more favorable terms.

7. Which bank are you choosing? Why them over the lowest option?

Not all lender choices are made with your savings in mind. “This exposes dealer commission padding.” 

Sometimes the dealer selects a lender that gives them the highest bonus, not the lowest rate for you. Ask why they’re choosing that lender. If the answer sounds vague or self-serving, you’re probably not getting the best deal available.

8. What’s standing between me and your absolute best rate?

This is where wording matters. “This forces them to negotiate against themselves. Never ask a ‘Yes’ or ‘No.’” A yes-or-no question gives them an easy out. 

Instead, ask what’s preventing them from giving you the best possible rate. They’ll either have to name something specific (like your credit tier) or admit they’re holding back. Either way, it opens the door to more negotiating.

Car dealers make a large chunk of their profit in the finance office

That’s where markups and add-ons quietly inflate your car payment. Jack’s advice is simple: Ask questions. Push for specifics. Don’t let politeness cost you thousands.

MotorBiscuit reached out to Jack via direct message with his TikTok account, @carhaggle, for more information on his experience with car buying and car loan terms.