Bank Loan and Downpayment
I went to the bank to finish up the loan documentation on the car yesterday. nim only financing $37,000 and the rest will be in Cash. The bank tells me that they cannot give me a $37k check as it must be made for the full amount of the car, and I would give the Downpayment to the bank.
Is this right? My plan was to give the dealer 2 checks.
By th way, I'm dealing with DoD Community Bank which is operated by Bank of America. Got a rate for 2.06% for 72 months.