Paid $4k down payment but it is not subtracted from payoff price?
I bought a 2015 Honda Accord recently.
I got the bill today the payoff amount was $30k. But I put $4k down payment so I can get lower interest rate.
The car is financed for 6 years and they told me it would be more than $4k in interests.
So I would like to know should that 4 thousand dollars be subtracted from the total price?
You don't understand down payments. You got $4K deducted from the original price of the car in the beginning, which is why your payoff is $30K and not $34K. You can't have it subtracted twice.
You made the $4K down payment not only to reduce your interest rate, but also to reduce the amount you owed, which reduced your monthly payment.
AlCapone was right. You also need to consider tax, title, and license, which would be a couple thousand as well. It should read sale price + tax + title and license - down payment + interest = total payoff.
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