Blacklist for paying off loan too quickly?
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Blacklist for paying off loan too quickly?
I know, this one sounds strange.
Bought our latest Mini from a Mini dealer. Simple interest loan, so I know I can pay it off early with no penalty. I also know the dealer gets their "cut" for writing the loan after 90 days. The question - if I pay off the loan in less than 90 days, do any Mini dealers blacklist your file so you don't get preferential terms in the future? Sounds odd to me, but had someone bring it up as something to be careful of. The follow-on would be, if they do, is it only for that dealer, or is it for all Mini/BMW dealers?
Bought our latest Mini from a Mini dealer. Simple interest loan, so I know I can pay it off early with no penalty. I also know the dealer gets their "cut" for writing the loan after 90 days. The question - if I pay off the loan in less than 90 days, do any Mini dealers blacklist your file so you don't get preferential terms in the future? Sounds odd to me, but had someone bring it up as something to be careful of. The follow-on would be, if they do, is it only for that dealer, or is it for all Mini/BMW dealers?
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