Now that's some fast action, exbauer! Good for you! I hope it goes well. I went with a car loan from a credit union in 2005- no retroactive incentives, unfortunately. but that's okay- I had the best rate available, paid off the loan six months or so early without penalty to save on interest, and always had good service from the loan people. Can't knock it. With incentives, too? People should be lining up to do this.

 

i didn't even know about this till i came on here. trading in my si wasn't even a thought. but, hated driving manual. but, when i found out about the $1000 on top of the $2100 tax credit. i knew i would wash out what i lost for the trading in the si.

they need to market this better. create some buzz. oh well, it is good the dealers i went to didn't know and use that $1000 to their advantage.

 

Hang on, even the dealers didn't know? That's just ridiculous. I mean, I know the state treasurer isn't exactly a rock star, but you would think that at the very least, the people directly impacted the most by the things he has to say would have SOME idea about the program. Otherwise it has no impact! It's all well and good to have government programs to promote necessary change, but you're telling me this one is so obscure that it won't even AFFECT anyone? Yick.

 

I went to the credit union to do all the paper work and it was really simple. They cut you the $1000 on the spot. You can do whatever you want with it. The only stipulation is that you have to keep the loan for at least 60 days. After that you can pay it off. So, just have to pay interest for 2 months. You can finanace how ever much you want. There isn't a minimum.

I encourage people to take advantage of this program in IL.

 

Just out of curiosity, have you done the math to see how much your loan fees and interest are going to add up to? For the purposes of figuring out how much of the $1000 you'd retain if you got financing but didn't need it, in order to take advantage of this offer.

 

no, not really. there weren't any fees associated with the loan. just that I would be paying the interest on the loan for basically 60 days. There isn't a minimum that needs to be financed. So, with that you can finance $1000 or however much you want. There is no minimum. I am not financing a lot and going to pay it off at the end of the 60 days.