Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Does an auto dealer lose money from the finance company if I make principal payments?
When I financed my last car, I directly asked the finance guy about principal payments and if he knew the proper procedures for the lender we were using. He stated that I could just make the monthly payment whatever I wanted and anything over the normal payment would be applied to the principal. I'm not a whiz-kid at these things, but I was pretty sure that this wasn't a "standard procedure" for most lenders. Sure enough, when I received my first bill, the special instructions for principal payments clearly stated that payments should be made separately and should include special instructions to apply the payment to the principal.
If I knew better, I would expect the finance guy to know better. So does the dealer lose any money on the deal if I make principal payments and pay the loan off early. I just assumed they received a straight upfront commission on the deal.
6 Answers
- Anonymous1 decade agoFavorite Answer
Why do you bother to worry about those car dealers? God damn useless sons of bitches. Put it simply, they are robbers, thiefs, swindlers, etc,etc. That's the last group of people you should worry about. Go ahead redemn early and make them return the commission to the finance company.
- gaglianoLv 44 years ago
Do you hae any style of workplace artwork explaining the reason of fee? Like a document that you signed declaring your motive to purchase the vehicle? if so, that must be evidence that you paid a fee for an envisioned amenities or products. because of the product change into not received or change into withheld from you may want to signify you're entitled to be re compensated. In different words, in the journey that they don't furnish you along with you money lower back. you've one heck of a case hostile to them in courtroom. only a own piece of suggestion: contained in the destiny, in no way pay something in the route of the acquisition of an merchandise till your understand you're one hundred% particular you may want to be approved for something of the quantity.
- 1 decade ago
once you leave the dealer the dealer gets paid by the bank.now your the bank customer because they own the loan.dealer is paid almost instantly in full by the bank even if you decide not to pay for the car,the bank however will repo the car not the dealer.
- How do you think about the answers? You can sign in to vote the answer.
