What is LTV (Loan-to-Value)?
Loan-to-Value represents the amount of money you are borrowing divided by the value of the car being financed. For new vehicles, LTV is calculated by dividing your loan amount by the vehicle’s invoice price. For certain vehicles that qualify for a manufacturer rebate, we will reduce the invoice price by the average rebate amount for that specific make/model. See Blank Check package insert to see if your vehicle will have a rebate reduction. For used vehicles, LTV is calculated by dividing your loan amount by the Kelley Blue Book wholesale value or NADA trade-in value (depending on your state of residence). Manufacturer rebates do not apply to used vehicles.
