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Discussion Starter · #1 ·
Hey guys. Finalizing the deal on my FiST. My plan from the beginning has been to take the extra 500 incentive for using ford finance, but as we all know their rates suck. Plan is to immediately back door refi with my CU. The finance guy told me that I have to make 3 payments or there will be penalties/charge backs. Now I've heard on the forums that it's BS. Has anyone out there that has immediately refi'd (within 30 days) that can comment on this. Just want to know exactly what I'm walking into.
 

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I think some places make you make 3 payments.



 

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Usually it's 6 months unless you have great credit. 1.90% 72 mos was what my roommate got. It could of been 60 at 0%.
 
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From what I understand if you refinance before three months, the dealer doesn't get the total of whatever money they get for your deal. They can't penalize you for paying off the loan early, whether it is another bank or not.
 

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Discussion Starter · #8 ·
Ya I have a feeling it has to do with the back end of the deal for the dealer. The more I think about it, it seems like it would be hard to penalize the customer. Pay off is pay off I suppose whether it's 2 weeks or 2 years after the loan is started. ..
 
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