The interest charges will most certainly exceed the $400 rebate. Even IF you pay it early, you are still responsible for some interest which is calculated immediately.

In addition, if you are looking to build your credit rating, you are better off to make payments on the loan for at least 18 months. That shows consistency, which is MUCH MORE important to the credit bureaus than a lump of cash at one time.

Just my .02.

 

you guys failed to mention that your credit must be good to recieve any college discount. one small blemish and your done..i was late with a gateway computer payment becaue i got laid off and that was at least 2 years ago and i was told i couldnt recieve a college discount.

 

by mods with the extra money.

 

I did when I got my car. Nope, no discount. People look at you crazy when you ask if they have one. That's cool Apple has love for us.

 

El_altruista - Thx for the info about your experience so far. I PM'd you b/c no email addy on your profile.

 

no prob beaverpoker. I sent you the spreadsheet yesterday morning, did you got it?

Well sometime tomorrow I will go to give my 06 xA order deposit. So I will ask the hard questions about this topic and will keep you inform thru here.
~Omar

 

Ya, amazing spreadsheet. Thanks and good luck working the system!

 

ehy, gente!

ok 2 things:

1) To facilitate the process, and make it easier for all here is the site from which you can download the loan amortization template directly from MSN. IT IS COMPLETETLY FREE. You will need Excel 97 or later. The cite is awesome and it has many other templates plus what I called a "happy scale" of people who have use them.

http://office.microsoft.com/en-us/re...n+amortization

enjoy !

2) As far I was informed by my agent, not sure if the same applies to all dealers, there is NO fee for paying early your grad program loan. HOWEVER, , I do not know and did not asked the scope of the word "early". Whether such word means: after receiving the first statemnt or at any time. In light of that , take into account that the program grants one a 90 day payment differement period where most likely than not interest is accumulating. I do not know when will one receive the first bill, if it will be after 30 days or after the 90 days passed.

So I think it is best to talk frankly with your agent, , when could the frist payment be done and that you individually contrast the accumulated interest + finacing fee vs the $400 saving. If you are lucky and have a low interest rate it would problably be wirth it. Will see if it might be worth it in my case.

When I said I was going to do this my agent said ok, but he did not look happy LOL . I understand him and his postion, and he has done a terrific job, but I have to be smart about how I usse my bling- bling.

That is my report ladies and gentelmen,
enjoy the day
Omar~

 

Great Omar!

So when are you planning to pay the loan off? 1 month, 3 months? I don't know if you found out or not, but when I talk to my finance guy, I'm going to inquire on what the minimum amount you can finance and still qualify for the rebate is.

I'll be going through this same deal next week when my tC comes in.

Thanks for keeping us informed.

 

I do not know when I will pay it off if I accept the grad program. When they call me that I will get the car in 10 days or so then I will go in and explore everything in greater detail.
And see if the rules and interest rate i would get makes it worth if not I will just pay it all at once.

No need for the adulation, , I do not have a B.B.A. but a B.S. , thus I am not at expert at all! Just an average Puerto Rican learning as I go on my quest of getting a Scion baby.
~Omar

 

..I sell all Scions at the price GM & Ford employees would pay .

 

You're a good man zinczipper!