I'm wondering how flexible loan officers (or departments) are to providing better rates for more information. For example, is something like a 1% reduction in rate for an auto loan be a reasonable trade for someone who has just completed a financial literacy course?
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1What do you mean "for more information"?– JohnFx ♦Nov 22 '15 at 2:48
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Banks do often allow their lian officers some room to negotiate on major loans like mortgages, but even then it's usually fractions of a percent. I don't think they would be making enough profit on an auto loan to negotiate much, and it's likely to be closer to 0.1% than 1%... but you can certainly ask as part of the process of shopping around for the best rate.
Loan rate flexibility comes more from the risk of the loan itself than the knowledge of the borrower.
Your loan would be lower risk based on the security in question(in your case the vehicle), the borrowers credit rating/score/history, and the source of repayment. Strong co-signers can also help with rate reduction.
Some institutions may also offer discounted rates due to your tenure with them.
I have yet to encounter a scenario where a discount is applied for taking a course.
