OK after surrendering my van today I've found the exact car I want with the 722 redemption dealer...They tell me I can pay off the loan any time w/o penalty so my question is if I refinance with my credit union lets say 6 months after my discharge will I have to pay the sales tax twice ??? If what they say is true I am getting a good deal on the car itself and if I can pay it off within 6 months I think it will be ok in the end. I REALLY hate this but I need something dependable to drive.
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A re-fi is not a new transaction that would trigger paying sales tax. You're just getting a loan to payoff the old obligation at more favorable terms. -
what kind of car are you getting? I might have to use them if my credit union try to make me keep the credit card, I just don't want to pay 24% interest, my interest with the credit union is 5%Comment
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Oh I know the interest rate is a tough pill to swallow !! They say you can refinance with them for a lower rate after one year of on time payments. I am getting a 2007 Kia Sorento LX with 18K miles for 13900 plus sales tax, tag etc for a total of 14900.00 and I am putting down 1000.00. so I will finance 13900.00. I am hoping I can refi with my credit union after discharge since I have had 3 loans with them paid on time in full over the last 15 years.
Thank you for answering Keepmine.Comment
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I have a Kia Sorrento 2006, about 16,000 miles still owe $17k, that sounds like a good deal except for the interest rate, I'm not sure yet what the credit union will say, I did apply with 722 just to see what they would offer me, they approved me for a loan note can't be more than $350 24% interest and after 12 payments it might go down to 18%, for 5 years.
I would like to keep my car, but it they try to make me keep credit card I will surrender. Just have to wait and see, I'm not worried about it, worrying don't ever seem to help anything anyway
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Your right worrying does absolutely no good !!! I am going to finance it and then try and refi with credit union for sure !!
SO you like your Sorento ??? I've never had a Kia.Comment
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