Car finance/refinance


ngoswami
12-03-2013, 08:33 PM
Hi,

This is my first post here. Sorry if this topic is already discussed here.

I have purchased Toyota car with financing from dealer just 2 days back. on the day pf purchase, finance manager checked my credit score/report and said my apr rate would be 4.99%. I was planning to opt 0%(they had some special financing option available with lower rebate) but he convinced me for 4.99% in the stressful environment at dealership.

Now, today when I calculated the actual amount I will be spending for finance, it comes out as $2600 over the period of 5 years. I don't want to pay this much and I called the finance manager today and requested him if he can change the rate or give me special financing option. He denied to change anything now as the contract is signed and already sent to bank.

Now my questions are:
- Is there any way I can force him to change apr rate or allow me to opt for special financing (0%)?
- Can I refinance it so early ? It is just 2 days I took the loan.
- any other suggestion?

Thanks,
NG

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