Quote:
Originally Posted by haleyd
the problem isn't that i can't get one, it's that the bank thinks i can afford to go 5 years instead of 6. i qualify for 35000 (that's just the number i put on my credit app)... my loan will only be about 19000. i would like to not pay more than 320'ish a month which is what it would be with a 72 month loan, but my credit union says that there is no reason why i can't pay 370 a month. it's making me really mad!
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That makes zero sense.. You will automatically have equity in the car so why wouldn’t they let you go for the longer term loan? It's almost like they want tap you out in the 72 month, what’s another 12 to them? They would actually make more money with the longer loan term
Or is it because your loan would be under the amout they want for longer term????