Quick question. I was wondering the following. What if you wanted to purchase a used 04 or 05 vehicle from a dealership and there where rebates offered on the same new 04 or 05 model. Would you be able to get that rebate even if they vehicle is used? My understanding is that the bank will consider anything within the current and last year a new car and will fall under the new car financing criteria. Is this correct?

[quote]Quick question. I was wondering the following. What if you wanted to purchase a used 04 or 05 vehicle from a dealership and there where rebates offered on the same new 04 or 05 model.Rebates are actually consumer incentives to get people to buy NEW vehicles. Once they have been sold, there is no more factory sponsored incentives.

Additionally as the 1st of the year rolls around, some banks may not consider as new any currently unsold 04 models, and may classify them as used by their quidelines even though the contract and title will indicate new. Different banks do things differently.