Chrysler Financing percentage question

[FUHL]

In order to get an additional $1,000 off, Chrysler Financing must be used. So What was the percentage the dealer quoted you?

I read that you must make at least 6 payments before you can refinance, is this true? Legal? Or do they just say that to make some money back?

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[stangken]

I’ve read it’s high, like around 5.5-6.5%. They cant make you make 6 payments unless it states you will have to pay a penalty, which might not even be legal. I’ve read people refi in a couple weeks without any issues, but you don’t know until you try.

 

[FUHL]

Thats what I did with my Ford truck, I refinance a few weeks later. I was just wondering if it is in the contract with Chrysler, like you I'm not sure if it is legal.

 

[tyresmoker]

In order to get an additional $1,000 off, Chrysler Financing must be used. So What was the percentage the dealer quoted you?

I read that you must make at least 6 payments before you can refinance, is this true? Legal? Or do they just say that to make some money back?

Is the JL Wrangler eligible for this program?

 

[Rockstar08]

No it’s not legal actually as it’s a simple interest loan and can be paid of anytime without a prepayment penalty. It’s only the dealership that states you can’t refinance for at least 6 months. Yes the Wrangler qualifies as you see many dealers that will give you the $1000 lower price if you finance through Chrysler. When I bought my JK back in 2017 I got the extra $1000 off but they also jack up your interest rate to compensate the dealer my rate was 4.9% and my credit score was over 800. However there was absolutely no paperwork that I signed saying I had to keep their loan for 6 months. On the original purchase order I think it was hand written on there that I was required to keep the loan to get the additional 1K off but when you sign the final contract it is not on there because it’s not legal to do so is my guess.

 

[Mjmi69]

That is correct, you can pay it off asap.

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