Mycelus
Well-Known Member
- Thread starter
- #16
This is along the lines of what I was worried about. Basically I don't want to get denied the financing or get quoted a worse APR because of how the math plays out between paying the registration up front vs rolling it into the loan. I wasn't sure if one was preferable from the lender's point of view when approving and deciding on an APR.Probably has something to do with the purchase order and his retail financing. If the state he buys in won’t pay the sales tax where he is going to register it, he will have to come up with the tax money when he registers it. So if his lender is requiring 10% down and the purchase order only shows the 60000 he needs 6000 + the 3900 when he goes to register it. Total 9900 out of pocket.
if the dealer does pay the tax then the purchase order is going to show 60000 + 3900 tax = 63900 - 10% down leaves him only 6390 out of pocket. Big difference in up front fees if not financed.
most dealers now do everything electronically and deal with every state. I would suggest the OP ask upfront what the p9licy is and steer clear of dealers that don’t. I bough5 my last vehicle in MD and had no problem wi5h them handling my SC registration.
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