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      11-22-2022, 10:16 PM   #2990
mnx5er
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Drives: 2015 BMW X5 3.5i
Join Date: Feb 2016
Location: Minneapolis, MN

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Quote:
Originally Posted by arRod1981 View Post
Though I just reread his comment, and his loan is through Chase. Not sure if there is any difference, but I'm sure the loan documents would mention early payment penalties. Mine does, and was even told at the beginning there was no penalty for paying the loan off early.
Very rare that banks have early payoff penalties - that was more of a things back in the 80s.

With BMW my dealer is always upfront and asks me to hold the loan for those three months. I give him props for being honest. With BMW rates where they are now, I doubt many people use BMW.

Finance people at dealers can be nasty. The good news is car sales have really slowed down and dealers will soon be begging for business.
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