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Just bought a JX35 yesterday. Financed with Infiniti to take advantage of the $1000 cashback. Didn't like the rate I got. The sales guy said I can refinance right away but the financing guy who finalized the deal for me told me I need to make at least 6 loan payments before refinancing.

Has anyone had the same experience before? Do I really have to make 6 payments first? Thanks!
 

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I was told I needed to make 4 payments. I was wondering the same thing, is there a minimum number of payments needed to allow the dealer to get their rebate?
 

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Three or four should suffice. Regardless of the rate, making 4 payments isn't going to cost you much in finance charges.
 

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I work at a dealership and I've never gotten a consistent answer to this question. Most consistent is 3-4 months. But I've heard as little as one. Never 6 though.
 

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One of the Infiniti dealers I visited prior to purchasing mentioned I should wait 4 months before I refinanced.

I waited until the car was titled and then applied to my credit union for refinancing.

The end result was that I made one payment to Infiniti before paying off the balance with the refi loan.

I refinanced the quoted payoff amount shown in my account on the Infiniti Financial Services website. But when I sent in the check, they gave me a few dollars refund.

I had no problem and in fact, never talked to anyone at IFS.
 

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Read the fineprint...there shouldnt be a requirement as long as it says there is no prepayment penalty. Of course there is also the fineprint against the rebate/cashback deal...I would say one payment should suffice.

Just bought a JX35 yesterday. Financed with Infiniti to take advantage of the $1000 cashback. Didn't like the rate I got. The sales guy said I can refinance right away but the financing guy who finalized the deal for me told me I need to make at least 6 loan payments before refinancing.

Has anyone had the same experience before? Do I really have to make 6 payments first? Thanks!
 

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Bought my JX35 on Saturday. Was told by business office guy that I was required to make 3 payments to IFS, and then the 4th payment could be the payoff. But I pointed out that there is no prepayment penalty, and asked what would happen if I paid it off on the first payment. He said the dealership would eat the $1000 delta, and its a good faith deal to make the 3 payments.
 

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There is no penalty, read everything in the fine print on the incentive to make sure. When I did mine, I read through it all to make sure as well. I did it after one or two payments I think. Just go do it, in my opinion who cares about the kickbacks/bonus or whatever for the finance guys at the dealership if you keep your loan for more than X months. The dealership makes $$ all over the place in your deal. Do what is best for you.

I refinanced through PenFed w/ a small donation to a veterans association and got a rate of 1.5%. I think now they are at 1.74% Did it all online in a few minutes, never spoke to anyone. Just make sure you have the right payoff amount handy.
 

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I did the same thing too, refinanced through PenFen after the first payment. No penalty.


There is no penalty, read everything in the fine print on the incentive to make sure. When I did mine, I read through it all to make sure as well. I did it after one or two payments I think. Just go do it, in my opinion who cares about the kickbacks/bonus or whatever for the finance guys at the dealership if you keep your loan for more than X months. The dealership makes $$ all over the place in your deal. Do what is best for you.

I refinanced through PenFed w/ a small donation to a veterans association and got a rate of 1.5%. I think now they are at 1.74% Did it all online in a few minutes, never spoke to anyone. Just make sure you have the right payoff amount handy.
 

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Just go do it, in my opinion who cares about the kickbacks/bonus or whatever for the finance guys at the dealership if you keep your loan for more than X months. The dealership makes $$ all over the place in your deal. Do what is best for you.
Yes, the dealership was straight-up with you about the $1000 incentive. They gave you the $1000, as a way to make the deal a better one for you. $1000? I'm sure they're getting more like $3000 back from IFS. Heck, it's probably $5000. Those dealers lied to you through the whole process. And they didn't spend any time with you after the sale making sure you knew how all the tech in your new car works either. Screw them. Why should you hold up your end of the bargain? /sarcasm

Seriously, did you do the entire negotiation over the car in bad faith? Did they? People claim all the time that car salespeople lie. Having sat on both sides of the desk, I can tell you that customers lie a whole lot more than salespeople. If the dealership treats you like crap, maybe you'll know why.

Sorry for the rant. But stuff like this pisses me off. You make enough money to afford a $50K car. Yet you look for every opportunity to deride the salesperson and finance manager, each of whom work their butts off to make enough for a 100,000 mile used Maxima.
 

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Yes, the dealership was straight-up with you about the $1000 incentive. They gave you the $1000, as a way to make the deal a better one for you. $1000? I'm sure they're getting more like $3000 back from IFS. Heck, it's probably $5000. Those dealers lied to you through the whole process. And they didn't spend any time with you after the sale making sure you knew how all the tech in your new car works either. Screw them. Why should you hold up your end of the bargain? /sarcasm
Had me going there for a second Sinecure. I thought maybe you were changing careers or something. I have to say though that the dealer we went through was exceptional in every way. From the initial meeting, through the sale, through servicing a minor issue, until know they have been as nice as they can be. I was going to pay cash that day but they passed the $1000.00 on to me if I would finance even part of it. I took out a $14,000.00 loan with them and don't feel bad about the 100.00 in interest I will pay over 4 months. Hell, it's worth that much just to continue having a great relationship with them. Owning my own business I have very little patience with people that scam me or try to take advantage of me and I get irritated by people who say "screw them". If you signed up for do the right thing and follow through. It's not that tough.
 

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Yes, the dealership was straight-up with you about the $1000 incentive. They gave you the $1000, as a way to make the deal a better one for you. $1000? I'm sure they're getting more like $3000 back from IFS. Heck, it's probably $5000. Those dealers lied to you through the whole process. And they didn't spend any time with you after the sale making sure you knew how all the tech in your new car works either. Screw them. Why should you hold up your end of the bargain? /sarcasm

Seriously, did you do the entire negotiation over the car in bad faith? Did they? People claim all the time that car salespeople lie. Having sat on both sides of the desk, I can tell you that customers lie a whole lot more than salespeople. If the dealership treats you like crap, maybe you'll know why.

Sorry for the rant. But stuff like this pisses me off. You make enough money to afford a $50K car. Yet you look for every opportunity to deride the salesperson and finance manager, each of whom work their butts off to make enough for a 100,000 mile used Maxima.

Ok -- that was a bit over the top. Salesman have this reputation for a reason -- that is why so many people dread car shopping. To say that a customer lies more than a salesman is a bit absurd - new car dealers main training programs are designed to teach their salesman how to take advantage of customers. If you don't like the low pay of the industry than pick another profession
 

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The finance contract you have with IFS is written out. There is no pre-payment penalty and therefore you are not breaking any contractual terms by paying it off early. Additionally, your contract is with IFS and not with the dealership so I don't feel a sense of obligation to make payments at a much higher rate.
 

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Yes, the dealership was straight-up with you about the $1000 incentive. They gave you the $1000, as a way to make the deal a better one for you. $1000? I'm sure they're getting more like $3000 back from IFS. Heck, it's probably $5000. Those dealers lied to you through the whole process. And they didn't spend any time with you after the sale making sure you knew how all the tech in your new car works either. Screw them. Why should you hold up your end of the bargain? /sarcasm

Seriously, did you do the entire negotiation over the car in bad faith? Did they? People claim all the time that car salespeople lie. Having sat on both sides of the desk, I can tell you that customers lie a whole lot more than salespeople. If the dealership treats you like crap, maybe you'll know why.

Sorry for the rant. But stuff like this pisses me off. You make enough money to afford a $50K car. Yet you look for every opportunity to deride the salesperson and finance manager, each of whom work their butts off to make enough for a 100,000 mile used Maxima.
Considering the $ they made off my trade, the future service of the vehicle, kickbacks from Infiniti, etc... I'm not too worried about what they pull in out of the deal in the end.

Yes they weren't completely up front...I fought to get a couple bucks off sticker and they said ok fine, we'll meet your price but only if you use Infiniti's financing. Went back to the dealer and in the financing room found out the price was really 53k -1k factory incentive for financing. Not the 52k that I agreed to over the phone. Yeah it all adds up to the same in the end, but they didn't mention all along there was an incentive for 1k regardless for using Infiniti financing. I was basing my price without any factory incentives (and at the time I didn't see the 1k listed on Infiniti's site), which they were well aware of... So essentially they came down no money from the price they originally offered me other than the factory incentive if I took Infiniti financing. And you wonder why people say screw the dealership?

In the end I'm happy w/ the dealership overall, the service, and the salesman was a great guy... just a little questionable in the way they handled pricing. At the end of the day I need to think about my bottom line, not theirs.
 
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