I bought a car yesterday with financing through the dealer. The interest rate seems high. Does anyone know if I have a certain period of time to cancel the financing deal?? thanks!
2006-10-22 13:13:43 · 9 answers · asked by sweetfeetsue10 1 in Cars & Transportation ➔ Buying & Selling
If you can get your financing at a lower rate, you can pay off the loan and replace it with the new finance company.
2006-10-22 14:01:51 · answer #1 · answered by fire4511 7 · 3⤊ 0⤋
Just go to your bank and see if you can get a better deal. They'll pay off the loan deal you signed at the dealer.
I do this often whenever the dealers are offering rebates on factory financing. Grab the rebate but get stuck with a bad interest rate. Pay off the dealer loan with bank financing.
Dealers and manufacturers hate this, but it's all very legal!
2006-10-22 17:01:45 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
you can check financing through bank or other sources and ask them to take over financing and pay off your current loan-your interest rate may be high if your credit rating is not impeccable - there is no time frame but do it ASAP if you can find a lower financing option
2006-10-22 13:20:17 · answer #3 · answered by Chris 2 · 0⤊ 0⤋
Check with the consumer afairs division of your community. Some have waiting time laws that chould allow you a couple of days to cancel the deal or part of the deal including financing.
2006-10-22 13:34:32 · answer #4 · answered by Anonymous · 1⤊ 2⤋
It depends on the company you're financing through. If they allow you to or how the company you're planning to refinance through feels about it. I guess you can.
2006-10-22 13:28:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Hahahahahaha!
That's a good one. Just get it refinanced somewhere else. Better yet, pay it off ASAP and it won't matter what kind of financing you have.
2006-10-22 14:55:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Read your loan papers very carefully, they might give you a small time window to cancel the deal.
2006-10-22 13:22:14 · answer #7 · answered by denise123456 2 · 1⤊ 1⤋
you would have to get ahold of the dealer and ask them that or read the contract that you signed, why did you buy a vehicle if you thought the interest was high??
2006-10-22 13:15:58 · answer #8 · answered by *CiTsJuStMe* 4 · 0⤊ 1⤋
no you can't
2006-10-22 19:56:07 · answer #9 · answered by Anonymous · 0⤊ 1⤋