Quote:
Originally Posted by Iwantone2
Thanks for the info Embalmer. One question though: how do you know what amount PenFed will let you finance? You can't just write any number that you wish to on the check, can you?  |
The amount will be in the paperwork you had to fill out and when the dealer sends in the paperwork to the credit union they will tell them what the MSRP or the car was and what the other costs was (tax, tag, title, and dealer fees).
Like my credit union will loan up to 100% of MSRP for the car and an extra 25% of MSRP that must go towards dealer fees, tax, tag, and title. They also require a printed out estimate from the dealer before they will approve you for any new car loan if you want to order or a copy of the dealer invoice if it's already on the lot.