Unless you have an unlimited amount (or at least more than the whole price of everything) to put towards the down payment and taxes you finance the same amount.
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You always pay your taxes and registration/title fees on where you register the car, not where you buy it. There are some loopholes that are few and far between that might benefit your tax liability, depending on the laws in your State. But that’s exceptionally rare.
On any standard simple interest auto loan, you pay interest on the amount that you borrow/finance, plain and simple. It makes no difference at all what makes up the amount the borrowing. The Car itself, taxes, fees, extended warranties, aftermarket products, etc. makes no difference. What you borrow is what you borrow, and that’s what you pay interest on.
Word of advice to all of you that are buying from a dealer out of your state...make sure their titling/registration process is dialed in. Most volume dealers are poor at handling out of state registrations because they usually let a 3rd party vendor handle it. I’d recommend understanding how they will process your registration prior to delivery, as to avoid any headaches.
On any standard simple interest auto loan, you pay interest on the amount that you borrow/finance, plain and simple. It makes no difference at all what makes up the amount the borrowing. The Car itself, taxes, fees, extended warranties, aftermarket products, etc. makes no difference. What you borrow is what you borrow, and that’s what you pay interest on.
Word of advice to all of you that are buying from a dealer out of your state...make sure their titling/registration process is dialed in. Most volume dealers are poor at handling out of state registrations because they usually let a 3rd party vendor handle it. I’d recommend understanding how they will process your registration prior to delivery, as to avoid any headaches.
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There is no pre-payment penalty on most loans, save interest by making larger than min payment. I paid off a 10 year RV loan in 40 months and saved thousands. Even a small additional payment towards the principal can make a big difference.
Yeah I get it 100%, completely agree with you. I have never went full term on any loan. I don’t think you understand exactly what I was getting after. I was never talking about paying extra the point I was trying to make was simply the fact that if you only have a limited amount of cash on hand for down payment taxes what ever- it doesn’t really matter where or how it is applied you still end up financing the exact same amount, there’s just no way around it.
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