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Message
re: Negotiating A New Truck
Posted on 6/15/16 at 1:35 pm to VetteGuy
Posted on 6/15/16 at 1:35 pm to VetteGuy
quote:
Don't do this unless the rate is way lower.
Dont refinance or just don't finance through Ford? I thought it was a good idea to finance through Ford to get the extra $500 rebate ( and no, I doubt Ford will be a low rate although i do have excellent credit), and then refinance with a credit union or bank or whoever gives me the lowest rate? Why is this a bad idea?
1
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.
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