Montreal loan & window tint questions

[sparrowt]

Hey Canadian Tesla owner! My model 3 is expected to be delivered this weekend but before taking the delivery I just have a few questions:

1. Since I won't get the Quebec incentives right away I'm considering putting 8,000 less down. I know in Quebec you can pay partially/fully off your auto loan at any time, but my question is, will they recalculate my monthly payment&interest right after I receive the 8000 and pay for the loan? I'm worried because I once paid a big amount off my mortgage but they didn't change anything until the end of my term...

2. Any recommended places in Montreal to get my windows tinted? I did searched this forum but found only one discussion with only one recommendation....

Thanks a huge amount!!!!!!

 

[lukex4]

1. Since I won't get the Quebec incentives right away I'm considering putting 8,000 less down. I know in Quebec you can pay partially/fully off your auto loan at any time, but my question is, will they recalculate my monthly payment&interest right after I receive the 8000 and pay for the loan? I'm worried because I once paid a big amount off my mortgage but they didn't change anything until the end of my term...

No it won't change your monthly payment & interest. What you can do is keep that 8000$ and pay a little more each month from it.

 

[sparrowt]

No it won't change your monthly payment & interest. What you can do is keep that 8000$ and pay a little more each month from it.

So even I pay off the rest of the loan on day 2 I will still be paying the same amount of interest as paying off the loan in 3 years right?

 

[Goodtohave]

Hi there,

I am a model 3 owner and have a window tinting company.

I will PM you my info

Thanks

 

[lukex4]

So even I pay off the rest of the loan on day 2 I will still be paying the same amount of interest as paying off the loan in 3 years right?

As soon as you pay off your loan there is no more interest. Paying more than your monthly bill just make the total duration shorter (hence less total interest).

 

[sparrowt]

As soon as you pay off your loan there is no more interest. Paying more than your monthly bill just make the total duration shorter (hence less total interest).

I see. Thanks for the explanation!

 

[mindracer]

Hi there,

I am a model 3 owner and have a window tinting company.

I will PM you my info

Thanks

Hey PM your info!