I bought an 07 for quite a bit below invoice, and I'm financing part of it at the longest term possible (72 months) due to my currently being in law school and not making much money. He told me he can give 4.9% interest, and will run a credit check on Monday (or tomorrow).
My credit is pretty good, but I assume this 4.9% is for Tier 1 amazing credit. There is no way I can swing a higher monthly payment should this 4.9% not come through for me.
If he calls and says the interest is higher, what the hell should I say? Also, I already put down a deposit; can I get that back should he not be willing to lower the price so the monthly payments work?
My credit is pretty good, but I assume this 4.9% is for Tier 1 amazing credit. There is no way I can swing a higher monthly payment should this 4.9% not come through for me.
If he calls and says the interest is higher, what the hell should I say? Also, I already put down a deposit; can I get that back should he not be willing to lower the price so the monthly payments work?