The amounts you can defer for The Deferred Payment Option:
New Purchase Loans
Maximum up to 20% of either Loan Amount or Vehicle Value (The lower of the 2 amounts).
For Example if the loan amount is $50K (20% is $10K) but the Vehicle is Valued at $45K (20% is $9K) the maximum we can defer up to is $9K.
Maximum up to $7,500 (If 20% of Loan Amount or Vehicle Value is less than $7,500).
Choose less than Maximum amount for either $4,000, $3,750, $2,000 (Options dependent on whether Vehicle is new or used).
Refinance Loans
For Refinance Loans, you can only Defer The Maximum Amount.
Maximum up to 20% of either Loan Amount or Vehicle Value (The lower of the 2 amounts).
For Example if the loan amount is $50K (20% is $10K) but the Vehicle is Valued at $45K (20% is $9K) the maximum we can defer up to is $9K.
Maximum up to $7,500 (If 20% of Loan Amount or Vehicle Value is less than $7,500).