Gupton financing - refinancing

[TxJeepers]

Has anyone financed with Gupton and then refi before 8 payments? Did they send you a bill or otherwise come after you? What was the result?

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[McLeadslinger]

Not with Gupton but I refinanced with USAA before my first Wells Fargo payment was due. Went from 3.2% down to 2.29%

 

[Astro Jeep]

I financed with Gupton, and I plan on paying it off in November. That being said, they are able to offer you, and everyone else, these great deals because they are in turn getting kickbacks. If you pay it off before the eight months then they will probably get a charge back. Will they then charge you back to cover their loss due to you reneging on the agreement? I am not certain, but if they can charge you back I guarantee it is in paperwork you signed. Personally, I wouldn't renege on an agreement I made unless it was gonna cause extreme financial distress to my family; such as, a bankruptcy.

 

[travis_cooper]

I’m with a different high volume dealer, but I’ve seen this question pop up a few times now. As mentioned above, a big part of the reason they can give these good deals is due to the financing. If a bunch of people payoff/refinance earlier than agreed upon, they might have to stop offering the deals. I plan on following through on the agreed amount of payments for two reasons; first, because I agreed to it, so I plan on keeping my word. Second, I don’t want to ruin this for others who come after me.

Of course not everybody will agree with that, to each their own.

Also, let’s say you’re 1% above what you could otherwise get. If you had $60k financed and waited 8 months to refinance, you’re paying less than $400 extra over that time. That’s a small price to pay to get thousands off.

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