When I purchased wife's CR-V in 2014, I came to the dealership with pre-approval from local credit union. I also put down significant amount, Dealer's finance office was able to beat my pre-approved rate through Honda Finance even so officially their rate was higher. The explanation I've got was that the down payment played role. I put down ~40%.
The same local credit union has 2.99% for new cars right now.
The same local credit union has 2.99% for new cars right now.