Fishwiz
Active Member
- Joined
- Sep 5, 2020
- Messages
- 126
- Reaction score
- 146
- Points
- 43
- Age
- 38
There are no prepayment penalties. Some dealers, mine included, have additional dealer discount if you finance through FCA (they receive kickbacks).
They "asked" (gentleman's agreement) that I make 6 payments on the FCA loan before paying it off or refinancing. All in all, paying the slightly higher FCA rate of 4.7% will cost me almost nothing over a few months... I'm happy to honor that agreement for the thousands I was able to save. The only penalty for not making the 6 payments, is that they may be less willing to offer those types of deals in a future transaction for someone who didn't hold up their end of the agreement.
Sent from my Pixel 3 XL using Tapatalk
They "asked" (gentleman's agreement) that I make 6 payments on the FCA loan before paying it off or refinancing. All in all, paying the slightly higher FCA rate of 4.7% will cost me almost nothing over a few months... I'm happy to honor that agreement for the thousands I was able to save. The only penalty for not making the 6 payments, is that they may be less willing to offer those types of deals in a future transaction for someone who didn't hold up their end of the agreement.
Sent from my Pixel 3 XL using Tapatalk