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Possible to change recent auto loan terms?

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Established Contributor

Possible to change recent auto loan terms?

My new toyota auto loan is 5.64% for 60 months. I wish I would have accepted the 4.9% for 48 months. I just bought the car 10 days ago. Is it possible to change to the latter option I was offered, 4.9% for 48 months? Has anyone done this before? Would it require a call to the dealership or to Toyota Finance?

Message Edited by Pj1369 on 08-02-2008 12:34 AM
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Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
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Valued Contributor

Re: Possible to change recent auto loan terms?

Probably too late, but call the dealer and plead your case.  If it is too late start paying more each month to liquidate the loan sooner, the difference in APR's won't make that much of a difference in interest paid.
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Established Contributor

Re: Possible to change recent auto loan terms?

Thanks Watchmann - I'll try it out. If it doesn't happen, oh well...no real loss.
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Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...
Message 3 of 3
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