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Southeast Toyota Financing

Discussion in 'General Tundra Discussion' started by Blankcheese, Jul 19, 2016.

  1. Jul 19, 2016 at 9:53 AM
    #1
    Blankcheese

    Blankcheese [OP] New Member

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    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.
     
  2. Jul 19, 2016 at 9:58 AM
    #2
    mdavis

    mdavis Tiger Life

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    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.
     
  3. Jul 19, 2016 at 10:16 AM
    #3
    RowdyRon

    RowdyRon Not too old to play

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    Bentonville, AR
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    Deck rail system, Bed divider, door sill protectors, LED reverse light bars, Aries Bull Bar with 28" 180 watt LED light bar, LED step lights, LED bed lights, driver-side grab handle, TRD Rear Sway Bar, BedRug bed mat and tailgate mat, Morimoto Fog Lights, more to come.....
    And the Finance Manager got his commission when it was sold...
     
    mdavis likes this.
  4. Jul 19, 2016 at 11:24 AM
    #4
    Blankcheese

    Blankcheese [OP] New Member

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    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?
     
  5. Jul 19, 2016 at 11:52 AM
    #5
    RowdyRon

    RowdyRon Not too old to play

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    Deck rail system, Bed divider, door sill protectors, LED reverse light bars, Aries Bull Bar with 28" 180 watt LED light bar, LED step lights, LED bed lights, driver-side grab handle, TRD Rear Sway Bar, BedRug bed mat and tailgate mat, Morimoto Fog Lights, more to come.....
    I would think that may just be a condition of the loan as you state, but, I would definitely check the contract to make sure there is no payment penalty for paying off/refinancing (prepayment penalty).
     
  6. Jul 19, 2016 at 12:44 PM
    #6
    Blankcheese

    Blankcheese [OP] New Member

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    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...
     
  7. Jul 19, 2016 at 12:52 PM
    #7
    ToyotaTundraMike

    ToyotaTundraMike Not A New Member

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    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.
     
  8. Jul 19, 2016 at 7:25 PM
    #8
    astro-jason

    astro-jason New Member

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    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
     
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