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Message
re: Negotiating A New Truck
Posted on 6/15/16 at 2:08 pm to nikki6
Posted on 6/15/16 at 2:08 pm to nikki6
Finance wherever you get the best rate/rebate.
Beginning one finance contract and cancelling it a few days later will result in you paying the interest charge on the entire financed amount for that period of days.
In other words, let's say you finance $30K for 36 months at 2.9%.
You decide to cancel after 7 days. You will still have to pay the APR on the money for the time you used it. It may only be $200 or so, but that may not be worth it to engage in another contract.
Beginning one finance contract and cancelling it a few days later will result in you paying the interest charge on the entire financed amount for that period of days.
In other words, let's say you finance $30K for 36 months at 2.9%.
You decide to cancel after 7 days. You will still have to pay the APR on the money for the time you used it. It may only be $200 or so, but that may not be worth it to engage in another contract.
2
Posted on 6/15/16 at 2:33 pm to VetteGuy
Gotcha, thanks! I'm getting financing through USAA right now and I'll see if dealership can beat it. I'm only financing about $15k.
Posted on 6/15/16 at 4:16 pm to VetteGuy
quote:
Beginning one finance contract and cancelling it a few days later will result in you paying the interest charge on the entire financed amount for that period of days.
In other words, let's say you finance $30K for 36 months at 2.9%.
You decide to cancel after 7 days. You will still have to pay the APR on the money for the time you used it. It may only be $200 or so, but that may not be worth it to engage in another contract.
That's why you have your financing set up beforehand and do the refinance that same day.
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