01-05-2013, 06:41 PM | #1 |
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Is there a cap on how much you can put down on a Camaro
when financing it from the dealership?
It seems they do not allow you to put more than 20%. |
01-05-2013, 06:44 PM | #2 |
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I have never heard of a maximum you can put down, only a minimum.
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01-05-2013, 06:46 PM | #3 |
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What? Never heard of that in my life.
Felix - Sent from my 2SS/RS |
01-05-2013, 06:46 PM | #4 |
Drives: 2011 Camaro 2SS Join Date: Oct 2011
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I put down about 70% on mine with no problems
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01-05-2013, 06:48 PM | #5 |
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If they give you crap, put 100% down! (at another dealer)
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01-05-2013, 06:53 PM | #6 | |
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Quote:
In another words , the bigger the loan , more money in interest one pays to the bank , the bigger the $$$ in kickback from the bank to the dealer , it's just money . |
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01-05-2013, 06:53 PM | #7 |
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01-05-2013, 06:54 PM | #8 |
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?? How could they cap your down payment, that's stupid and not correct.
I put 100% down so I don't think so... |
01-05-2013, 06:55 PM | #9 |
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Sounds like bull to me!!!!
they get a payback from the bank that us why they would say that! I got a new car once they gave me 1/2 the pay back and I paid it off after 30 days The dealership did not get the pay back untill the loan hit 30 days .
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01-05-2013, 06:57 PM | #10 | |
Let's go Rangers!
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Quote:
Felix - Sent from my 2SS/RS |
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01-05-2013, 07:00 PM | #11 |
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Finance with a bank or credit union, not through the dealer.
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01-05-2013, 07:02 PM | #12 |
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Well , you may have a good reason for that , but if you can get a loan for less than what you may get from ,let's say a CD ~~.125( 1/8 ) % for 48/60 go ahead with that .
But if it's like above 3% I don't know , and of course there are others issues that only you know , so ,good luck with your new toy . |
01-05-2013, 07:04 PM | #13 |
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Yeah, i agree
I put 100% when I bought my Camaro a month ago. Most dealerships make their money on used cars as compared to new anyway. (i could be wrong)
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01-05-2013, 07:15 PM | #14 |
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Dealers don't finance automobiles.
They might help arrange financing for you through one of their partner financial institutions though. And in doing so, they very well could make $$ on the deal. The more you finance, the more the lender might pay the dealer. You can avoid all of that by paying cash. Since that isn't an option for most buyers, the next best thing is to have your financing "pre-approved" by your own bank or credit union. Now all you have to negotiate with the dealer, is the selling price of the vehicle.
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