Submitted by Far-Policy2155 t3_y8heu0 in personalfinance
My partner is purchasing a used car from Hertz with a credit score of 799. The financing terms seem pretty unfavorable. On a car costing $27K ($5k down and $22K being financed), the best they said they could do was 60 months at 7.29%. The game plan was to try to get a 48 month term loan through a credit union, but the dealer doesn't work with outside financing and they don't even typically have loans that short in duration. We had to ask just to get it from 72 to 60. We made sure to ask that there is no penalty for pre-payment, so could we just go through with the initial terms of the financing above and then just go to a local credit union shortly after and refinance? Is it really this easy to get a more favorable deal or will something come back to bite us? No papers have been signed. Are there any other details we should bring up or clarify? Also, attached is the buyer's order. Please inform if anything looks fishy. It seems like a lot for a title/registration fee when we're bringing our own tag that has already been renewed through 2024. Thanks in advance, y'all!