This is going to sound like a dumb question but I have been reading about 80% loans and 100% loans on vehicles. My question is this .. the 80% is of the original price or FMV, right?
So is a car is 20,000 MSRP (assuming this is also FMV to make it easier) then with incentives, cash, trade in etc as long as your loan is $16,000 or less then you get the lower APR, correct? They don't base the 80% loan amount off of the MSRP minus the incentives everyone is getting, right?
I am assuming that is right but, since I am a new comer to actually trying to understand anything more than writing out a check, I wanted to verify.
