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      11-24-2012, 03:13 AM   #1
Cyclone Chris
US Air Force. HUAP.
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Drives: 2013 SG M3 ZCP / DCT
Join Date: Jan 2012
Location: Hampton Roads, VA

iTrader: (0)

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.
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2005 Pontiac GTO - 6Spd - 445 RWHP/415 RWTQ - SOLD
2013 BMW M3 Coupe - /// Competition Pkg /// Premium Pkg /// Dual Clutch Transmission /// BMW Apps /// Heated Seats ///