Re: Hyundai financing question
 

"Matt Whiting" <whiting@epix.net> wrote in message
news:yvbEf.5799$lb.504863@news1.epix.net...
> CNP wrote:
>
>> We bought a new Hyundai car with their own financing because there was a
>> rebate. We really want to pay the amount off.
>>
>> The dealer tells me that if I pay off the entire loan within 4 months of
>> purchase, the Hyundai fianancing department takes the rebate amount from
>> the dealer. Is that true?
>
> My dealer told me 3 months, however, I couldn't find any such wording in
> the loan agreement. My agreement did have a statement in it about a
> prepayment penalty. It had two boxes that could be checked, one that said
> prepayment "may" incur a penalty and the other which said that prepayment
> "will not" incur a penalty. When the salesman gave me the paperwork, most
> things were typed in, but neither of these boxes was checked. So, I
> checked the "will not" box and signed the paper. I figured someone at
> Hyundai would object, but I got my copy in the mail a couple of weeks
> later with the box checked. I may pay mine off when I get my tax refund,
> but that will be after 3 months anyway, but if they try to steal my rebate
> I'll send my lawyer after them.
>
>
> Matt

If you wait three months, assuming 7%, $20k, and 5 years, you will lose
about $360 from paying interest. I refinanced mine about 2 weeks after
buying it.

I'd be interested in knowing what you guys (youz guys = Y'all down here in
the south - I'm not a native) got for an interest rate from HMFC. I got
6.99% and my score is 782. Higher than some value - unknown - is gravy for
the dealer.

Re: Hyundai financing question
 

Bob wrote:
> If you wait three months, assuming 7%, $20k, and 5 years, you will lose
> about $360 from paying interest. I refinanced mine about 2 weeks after
> buying it.
>
> I'd be interested in knowing what you guys (youz guys = Y'all down here in
> the south - I'm not a native) got for an interest rate from HMFC. I got
> 6.99% and my score is 782. Higher than some value - unknown - is gravy for
> the dealer.

Financing a little over 16K, we got 6.2% for 5 years. Refinanced before
the first payment was due and there was no penalty. I'd have to look up
the figures to be sure, but it seems like we "lost" about $70 by
financing through HMFC to get the rebate.

Barry

Re: Hyundai financing question
 

Bob wrote:
> If you wait three months, assuming 7%, $20k, and 5 years, you will lose
> about $360 from paying interest. I refinanced mine about 2 weeks after
> buying it.
>
> I'd be interested in knowing what you guys (youz guys = Y'all down here in
> the south - I'm not a native) got for an interest rate from HMFC. I got
> 6.99% and my score is 782. Higher than some value - unknown - is gravy for
> the dealer.

Financing a little over 16K, we got 6.2% for 5 years. Refinanced before
the first payment was due and there was no penalty. I'd have to look up
the figures to be sure, but it seems like we "lost" about $70 by
financing through HMFC to get the rebate.

Barry

Re: Hyundai financing question
 

Bob wrote:
> If you wait three months, assuming 7%, $20k, and 5 years, you will lose
> about $360 from paying interest. I refinanced mine about 2 weeks after
> buying it.
>
> I'd be interested in knowing what you guys (youz guys = Y'all down here in
> the south - I'm not a native) got for an interest rate from HMFC. I got
> 6.99% and my score is 782. Higher than some value - unknown - is gravy for
> the dealer.

Financing a little over 16K, we got 6.2% for 5 years. Refinanced before
the first payment was due and there was no penalty. I'd have to look up
the figures to be sure, but it seems like we "lost" about $70 by
financing through HMFC to get the rebate.

Barry

Re: Hyundai financing question
 

how can you lose $70? if you got $1,000 financing rebate and paid off
the car in a month?

seems like you gained $930

Re: Hyundai financing question
 

how can you lose $70? if you got $1,000 financing rebate and paid off
the car in a month?

seems like you gained $930

Re: Hyundai financing question
 

how can you lose $70? if you got $1,000 financing rebate and paid off
the car in a month?

seems like you gained $930

Re: Hyundai financing question
 

> how can you lose $70? if you got $1,000 financing rebate and paid off
> the car in a month?
>
> seems like you gained $930

You don't suppose that's why he put "lost" in quotation marks, do you?

Re: Hyundai financing question
 

> how can you lose $70? if you got $1,000 financing rebate and paid off
> the car in a month?
>
> seems like you gained $930

You don't suppose that's why he put "lost" in quotation marks, do you?

Re: Hyundai financing question
 

> how can you lose $70? if you got $1,000 financing rebate and paid off
> the car in a month?
>
> seems like you gained $930

You don't suppose that's why he put "lost" in quotation marks, do you?