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Old 06-25-2012, 07:33 AM   #1560
Focus Rookie
Join Date: Jun 2012
Fan#: 100488
Location: Cedar Rapids, IA
What I Drive: 1995 Faded Red Altima

Posts: 4
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Is that higher interest rate a hard and fast rule to get the finance rebate cash?

I have no intention of paying off the loan early for a couple reasons; a child who will be a senior in college (talking about graduate school) and I currently get 3% on my high yield checking account. (My bank knows this and was quick to offer me $100 on top of the 2.48% to finance or refi with them).

Would I be wasting my time trying to negotiate a competitive rate perhaps with a prepayment penalty clause (simple interest amortized) + rebate cash?
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