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Discussion Starter · #1 ·
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
 

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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?
 

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Discussion Starter · #3 ·
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?
 

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Discussion Starter · #4 ·
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
 

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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.
 

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Discussion Starter · #6 ·
Good to know Imran. I'll def make sure when I go to do the refi. Thanks for the heads up :)
 

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Discussion Starter · #8 ·
Versa12,

Did you originally get any rebate for financing with nissan?
 

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Discussion Starter · #10 ·
Ah makes sense.
 
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