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Old 05-07-2008, 08:47 PM
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Amount that can be financed...

What is the name of your state? Pennsylvania

My husband and I had traded in his truck for a new car. Is there a limit as to how much a bank will finance over the value of the car? The loan we had gotten ended up being for about 130% of the sticker price for the car. Is this legal?
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Old 05-08-2008, 08:46 AM
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It sounds like you were upside down in your previous loan. In which case, yes, I believe that's perfectly legal. Not fiscally smart, but legal.
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Old 05-08-2008, 05:00 PM
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Quote:
Originally Posted by smholmes6184 View Post
What is the name of your state? Pennsylvania

My husband and I had traded in his truck for a new car. Is there a limit as to how much a bank will finance over the value of the car? The loan we had gotten ended up being for about 130% of the sticker price for the car. Is this legal?
you didnt have to borrow that much, why did you?
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