cancel
Showing results for 
Search instead for 
Did you mean: 

Question regarding an auto loan

tag
rmduhon
Valued Contributor

Question regarding an auto loan

If it's a new vehicle, but last year's model, would that still qualify as a new vehicle? I think that my 2015 Silverado was financed as new even though we got it last year. We are debating on getting hubby a truck, but would like it to be last year's model to save more money. He has the option to put it on 'rent' at his job and they'll pay $400 a month for doing this so it won't be as much out of pocket.
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Question regarding an auto loan


@rmduhon wrote:
If it's a new vehicle, but last year's model, would that still qualify as a new vehicle? I think that my 2015 Silverado was financed as new even though we got it last year. We are debating on getting hubby a truck, but would like it to be last year's model to save more money. He has the option to put it on 'rent' at his job and they'll pay $400 a month for doing this so it won't be as much out of pocket.

Never used = New

 

I don't think the yr matters.

Message 2 of 5
rmduhon
Valued Contributor

Re: Question regarding an auto loan

That's what I was thinking, just wasn't sure
Message 3 of 5
EddieK
Established Contributor

Re: Question regarding an auto loan

As long as it's never been titled, it's considered new.

Starting Scores:
1/19/14:

1/28/14:
2/12/14:
Current Scores:
7/10/19:
12/17/16:
9/05/17:
Message 4 of 5
Anonymous
Not applicable

Re: Question regarding an auto loan


@EddieK wrote:

As long as it's never been titled, it's considered new.


This is accurate - the definition of 'new vehicle' means one that has never been titled to anyone other than the dealer.  In theory there may still be a 2014 out there somewhere that meets this description - it would still be considered 'new'

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.