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cten07

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  1. cten07

    Refinancing ?'s

    Car is 2018 Toyota Corolla LE 18,600 miles, Loan Balance 21.5K, int rate 13.4, payment is 484/mo. Had negative roll at purchase of 4,500 which is why I currently owe 21.5K on it. Credit score notwithstanding, at what point based on LTV would I be able to refinance, if ever, without making extra principal payments. I am aware of 120% LTV possibility, but 120% of retail or trade value for refinance purposes? Thanks.
  2. I just purchased a 2018 Toyota Corolla(love it!!) using Springboard auto.com; rate was 13.6%, scores low to mid 500's, 4K neg equity. Dealer kept trying to convince me it would be better to use Americredit through them at 15.0% or so and have "GAP plus" instead of just regular GAP and also so I can "automatically"(?) after 10 on-time payments be put into a lower int rate loan in the single digits(Conquest or Loyalty program). Oh for only an extra 30 bucks per month you will be "in with Americredit/Toyota through us" and be eligible for either conquest or loyalty program. Made no sense to me, math did not add up, never heard of GAP plus, so I held my ground with my head spinning at that point, used Springboard, no extras through dealer, only GAP through Springboard and got out of there. Anyone ever here of Conquest/Loyalty program being pushed when closing on a car; bought 4 other new cars in past 15 years and never heard of any of this except regular GAP ins. I understand dealers trying to make a profit on your loan but in the past if dealer beat rate I went with them if not i used my financing and it was all straightforward.

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