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Originally Posted by shakran
Yet another advantage, of course, is that you can obtain your own financing, which is almost always at a lower rate than the dealership - keep in mind that the interest on the loan is also going into the dealership's pockets (it's the rare dealership that just forms a relationship with a bank and lets the bank do all its financing - more common for the dealership to do its own financing and take in all the interest as well.)
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I had an odd experience with this when I bought my last car. We sat down to discuss financing and the guy quoted me a rate. I asked if he could do any better, and he started giving me the spiel about how the bank controls the rates and there was nothing he could do. I said I wanted to check with my bank and started to leave, and all of a sudden he had a little leeway with the bank. He came down several points until I had a rate I was happy with, and I agreed to the deal. When I came back to sign the paperwork the next day, the loan was written up for a point *lower* than what we had agreed on. I certainly wasn't going to complain, but it seemed odd that they could do that.