cb1111
Newbie
- Location
- Virginia, USA
I'm considering a GTI SE at $6k off MSRP...
The catch is I have to use the VW 6.99% financing, and can refinance after 3 payments.
I've done the numbers, and assuming a decent refinance (I have good credit scores), this seems to be a good deal. And I know others have done stuff like this.
However, I have never tried doing this, so I'm paranoid I'm missing something and they are screwing me some other way.
Granted, they'll make a few hundred bucks from me in those first few payments, if I refinance as planned, am I missing something?
Any tips are appreciated!
Correct.Dealers ask the buyer to pay it back after three months so that they can get the commission from the bank. But in general, most auto loans do not have a pre payment penalty. If there isnt anything in the terms and condition, you should be able to pay it back as soon as possible and save some money.
Are you sure its from VW and not from any of the banks.
However, my recommendation would be to discuss the refi in advance of the purchase with whatever institution you intend to use to refinance.