Lending question (warning: dumb)

[steve3zx]

So, we will have cash in Dec to pay for the X.
If we were to take delivery in Nov, and put the $10k down (in addition to the deposit?), then pay the remaining roughly $110k off in December, what would we have paid to take delivery a few weeks early? The interest portion of the first payment only? Any other fees? I understand there's no pre-payment penalty.

TIA

 

[LoveEV]

I tried to make full prepayment they wouldn’t allow it Has to be when they tell you to transfer to their account. Steve check your PM

 

[bmms8]

Credit being ran and very minimal interest. Get the car now if you dont want to wait/might get close to federal rebate changes.

Im sure you have a great reason why your paying all in cash instead of paying ~3.4% on a loan

 

[steve3zx]

What does that mean...you had (have) to keep making finance payments for some time?
My rep literally just said "There is no pre payment penalty on the loan."

 

[ithinkmac]

Opportunity cost. You can invest your cash and if it's getting you more than 3.4% return, you're on the upside. No prepayment penalty, but if you can get loans with low interest, why not spend somebody else's money and invest your own.

-ThinkMac-

 

[steve3zx]

Opportunity cost. You can invest your cash and if it's getting you more than 3.4% return, you're on the upside. No prepayment penalty, but if you can get loans with low interest, why not spend somebody else's money and invest your own.

-ThinkMac-

Sorry, I understand that part, I was wonder about:

"I tried to make full prepayment they wouldn’t allow it"