FWIW, my refinancing, not refinancing, or paying off early, was never discussed with my dealer. Verbally or contractually.
I was only halfway considering a re-fi (or a payoff) and then the bank showed me a button that said "payoff amount".
If you offer it, I'm going to go for it.
But thanks for being judgmental, just the same. As I said... no remorse.
If they didn't discuss with you to not pay it off early, then obviously there is nothing wrong with refinancing it or paying it off immediately. If that shoe doesn't fit you, don't try to put it on...
You were the one who said:
I feel exactly zero remorse, getting a break whenever/however I can.
You get your breaks whenever/however you can. I got some great breaks from my dealer when I bought mine. AND, they told me that if I refinanced (or paid off early) within 3 months, they would lose their commission from the finance company - so I told them I wouldn't do that. I try to be a man of my word, so even though I COULD give myself a break and refinance it sooner, to save a couple of dollars in interest, I don't take my breaks whenever/however I can. I keep my word, even though I'm not legally obligated to.
But, you do you.
Same - sale price and incentives were dependent upon financing through them. APR was 5.3% despite 826 credit rating. They wouldn't negotiate even though they advertised 0% /72.
I'll have a clear conscience when I re-finance.
So, you don't LIKE the deal that you agreed to. Did they tell you that you can't refinance or pay it off within a certain timeframe? If that was not part of the discussion, then obviously there is nothing wrong with doing that. If that WAS part of the discussion, then what I'm hearing is that you agreed to a deal, but because you don't LIKE the deal, you feel justified in not holding up your end of it?
Anybody with half a clue understands that when a dealer says "I'll sell you the truck for this price, but it's contingent on financing through us" that what that means is they have to make money somehow or they'll go out of business. So, they are offering to make less on the front end in exchange for making a little more on the back end. If you take that deal, you (should) KNOW that that is what is happening. You're getting a break on the upfront price in exchange for using their financing for 90 days or 6 months or however long they specify - because they are going to make some money later, based on your financing going through them.
If you take the deal and then pay it off early, you are knowingly screwing the dealer out of part of the money that you agreed to let them earn. And why? To save a little bit of money for yourself? Because some other dealer screwed you in the past, so you think that makes it okay to screw a different dealer yourself? If this same dealer screwed you in the past, why are you buying another vehicle from them??
If you were selling lumber and a customer came in and said they want to buy a truckload of lumber every month for the next year, but they were short on cash right now because they are just getting their construction business going, to get that sale, you might say "I'll tell you what, I'll sell you the first 2 loads for 20% off, if you'll agree to buy the next 10 loads at 2% higher."
How would you feel if that customer took the first 2 loads (at 20% off) and then changed to buying their lumber from someone else after that? And they tell you "I'm not legally bound to keep buying from you." And, "my last lumber supplier screwed me over, so I have no remorse in screwing you over."
