New auto sales are down in January. We all know that. It seems almost every manufacturer is giving a rebate. What do you consider the MSRP to be? Some credit unions use the sticker price and others deduct the rebate from the MSRP with the theory that the rebate is actually a price reduction because the MSRP is excessive. Loan to values of 100 - 130 % are pretty standard now, so the method you use can drastically change the LTV.

Which method do you use, and why???