Southeast Toyota Financing

Does anyone know if a penalty is incurred if I refi my loan in less than 6 months? I was guessing that the finance MGR at the dealership makes money by me keeping the loan for more than 6 months.

 

I would highly doubt there is a penalty. The manager at the dealership has nothing to do with Southeast Toyota Finance. The dealership made their money when you financed the truck when you bought it.

 

So, I need to check the contract because they told me I need to keep the loan for 6 months. After that I can pay it off, so maybe it's just a condition of the loan?

 

Yeah it could be a minimum 6 month period before I can payoff. Makes sense, I just thought I smelled another commission in here somewhere...

 

I went through them last year when I got mine. Had to make 3 payments with them and then I could refinance with my local credit union without a penalty.

 

Go online and look at your account. It will tell you what the payoff is and if there is a penalty for early pay off.

-Jason