Re: Re: Re: Re: Re: Re: BK 7 kept truck, want to negotiate I would love to get a lower interest rate what would be good for 13% Maybe a reduction to 7-8? I could always add that in the letter? Should I call them or do you think a CRR letter would be best? Thank you for your advice
Re: Re: Re: Re: Re: Re: BK 7 kept truck, want to negotiate one more question though, I don't want them to tack on another 8% on top of what I am paying, will they figure a new number from the beginning? for the reduced interest rate?
Re: Re: Re: Re: Re: Re: BK 7 kept truck, want to negotiate Dunno about calling versus letter. Don't call if you're easily talked into something that's not best for you. ;-) They can't just tack another 8% on unless you agree to it. They won't even try. But still, make sure they know you're turning it in fershur if they won't work with you ... IF you're willing to follow thru and actually surrender it. I don't know exactly how your bank will work it, but I assume it'll be like a refi since you are asking for a longer term.
Re: Re: Re: Re: Re: Re: BK 7 kept truck, want to negotiate I would prefer to write so I rewrote the letter asking for the reduction of interest to 7% so they have a little negotiating power to maybe 8 or so. How would that work though, changing the interest rate after we have paid over 6K on it already, usually when you finance don't they pay off the interest first then you start on the principal? Just curious. I don't know how that would work though. Anyway, I printed the KBB and it is for 10K and I called to get payoff and it was 17150. So I have some leverage that they will lose out on some money if they don't negotiate. Thanks again for you input.
Re: Re: Re: Re: Re: Re: BK 7 kept truck, want to negotiate Sorry again, The only way I could see getting our payments to around 300-350 would be to extend a year, originally it was a 4 year loan because the tahoe was a 99 and wouldn't finance more then 4 years for a used vehicle. So hopefully they can give me the extra year to knock the payment down, I don't think they would take bait for something like 13K for 36 months would they? It is Capital One and well they would still be making a little bit of money on it? Who knows any advice would be great. That would put my payments around 360 for 3 years, that wouldn't be too bad either. I am mailing it tomorrow so anyone please chime in about any thoughts.
