[shield1561]

Hi All!

Quick question I'm hoping someone might have an answer to. I bought my 2013 Versa the other day and did the Nissan Financing to get the $500 rebate. I want to use my credit union as it has a much lower rate, and the salesman told me to make 4 payments to NMAC and then to refinance it. I just want to check to see if I need to make the 4 or if I can refinance it sooner. My refinance approval is valid for 1 month and I can drop my rate from 4.99 to 1.74. Does anyone know how long I really have to keep NMAC to keep my rebate? I also don't want to screw over the dealership as they gave me a heck of a deal.

Thanks!
-Justin

 

[penuch]

Hi All!

Quick question I'm hoping someone might have an answer to. I bought my 2013 Versa the other day and did the Nissan Financing to get the $500 rebate. I want to use my credit union as it has a much lower rate, and the salesman told me to make 4 payments to NMAC and then to refinance it. I just want to check to see if I need to make the 4 or if I can refinance it sooner. My refinance approval is valid for 1 month and I can drop my rate from 4.99 to 1.74. Does anyone know how long I really have to keep NMAC to keep my rebate? I also don't want to screw over the dealership as they gave me a heck of a deal.

Thanks!
-Justin

This could end up being more costly than you though. Does your current loan have a prepayment penalties?
Is Nissan going to look for not only a payoff of the loan, but also a percentage of the remaning interest since the loan is so new?

 

[shield1561]

This could end up being more costly than you though. Does your current loan have a prepayment penalties?
Is Nissan going to look for not only a payoff of the loan, but also a percentage of the remaning interest since the loan is so new?

Good question. I just looked at the finance paperwork from Nissan and it says there is no prepayment penalty. I wonder how this all works. I just don't want to loose that $500 rebate lol any other ideas?

 

[shield1561]

Just an update for anyone that's interested. I spoke to NMAC and they said I have to keep financed with them for 90 days then I can refinance with my credit union. 90 days isn't too bad I guess lol

 

[Imran4692]

be careful of that refinancing thing because they charge you a fee to do the financing and they take out the interest of what you finance upfront they find a way to get your money so to speak the $500 you think your getting they take it out some where else read those detail fine printed man i financed my versa in 09 for like 6% idiot i know but my first knew nothing about loan and the market wasn't too bad just becareful you might end up paying more than that $500 you think your getting.

 

[shield1561]

Good to know Imran. I'll def make sure when I go to do the refi. Thanks for the heads up

 

[Versa12]

I financed with Nissan for one month and then switched to my credit union. Didn't have any issues.

 

[shield1561]

Versa12,

Did you originally get any rebate for financing with nissan?

 

[Versa12]

Nope. There was a rebate listed at the time but for some reason I didn't qualify. I think it was because I got a discount for being a student or something.

 

[shield1561]

Ah makes sense.