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Old 01-05-2013, 06:41 PM   #1
yellowrs
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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%.
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Old 01-05-2013, 06:44 PM   #2
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Quote:
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when financing it from the dealership?
It seems they do not allow you to put more than 20%.
I have never heard of a maximum you can put down, only a minimum.
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Old 01-05-2013, 06:46 PM   #3
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What? Never heard of that in my life.


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Old 01-05-2013, 06:46 PM   #4
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I put down about 70% on mine with no problems
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Old 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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Old 01-05-2013, 06:53 PM   #6
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Quote:
Originally Posted by yellowrs View Post
when financing it from the dealership?
It seems they do not allow you to put more than 20%.
The bigger the loan the dealer presents to the bank , the bigger will be the kickback , $$$$ , that's what I wm talking about .
In another words , the bigger the loan , more money in interest one pays to the bank , the bigger the $$$ in kickback from the bank to the dealer , it's just money .
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Old 01-05-2013, 06:53 PM   #7
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If they give you crap, put 100% down! (at another dealer)

I rather keep my money in the bank
Thanks for all the replies.
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Old 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...
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Old 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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Old 01-05-2013, 06:57 PM   #10
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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 .
Huh?


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Old 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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Old 01-05-2013, 07:02 PM   #12
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Quote:
Originally Posted by yellowrs View Post

I rather keep my money in the bank
Thanks for all the replies.
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 .
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Old 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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Old 01-05-2013, 07:15 PM   #14
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Quote:
Originally Posted by yellowrs View Post
when financing it from the dealership?
Quote:
Originally Posted by Elykson View Post
Finance with a bank or credit union, not through the dealer.
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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