Quote:
Originally Posted by fourflys
I was about to mention that.. often loans will have a clause that if you pay off prior to a certain time (usually less than the full loan), there is a penalty.. these are usually on loans through the dealer and not from your bank..
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Could be regional, a big dealership here might have 10 banks they can use (at least according to my brother who used to sell cars). If you don't like one or don't qualify for one they move on down the list.
I think they have strong incentives to start with the auto manufacturer's in house lending.