Do lenders have a minimum amount for car financing?
I bought a car with cash and trade. My final amount owed was $4,800 and my monthly payments were under $100. I signed all the paperwork and drove away. A few days later, the finance manager from the dealership called and said that $6,000 is the minimum amount that the lender will finance. She wants me to come back in, write a new down payment check, and sign the new paperwork. Does this sound right? Or am I being bamboozled?