<<When you go work the numbers, usually the dealer will take the rebate off the costs. Instead, have the dealer report it as down payment. >> Can one actually do this? It sounds too good to be true. I'm going to go car shopping in the next couple months so I'll try that out.
It says here that the LTV must be less than or equal to 115% for new and 120% for used cars. LTV is based upon the total amount financed divided by the MSRP for new or the NADA trade-in value for used.
milkmom, I think 12% rate is kind of high for carloan. Did you asked them to refinance since the prime rate is low? Ron.
Heck, that is low for us. We had been paying in the low to mid 20s before that. I can't remember offhand. I think it was 24% The 12% is really good. My husband doesn't have the best credit and I can't even contribute to the credit because I am still trying to clean up the report from identity theft. We are happy. With his scores in the low to mid 500s, there is no way we could do better and we didn't give a down payment either
