Am I crazy to think that the government is giving money it doesn’t have to car companies so that car companies can give car loans to people who don’t have enough money to buy a car?
If you really want to freak out a car dealer, go to them with $20,000 in cash and ask to buy a new car.
You will look like a voice in desert…wild honey.
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1 response so far ↓
Wizard Prang // April 28, 2009 at 3:39 pm |
Not quite…
Strange as it may seem, the dealer prefers that you finance it!
The dealership makes the most money from leases, followed by dealer-financing (they get a cut from the finance deal). From a cashflow point of view, they obviously like the idea of cash up front, but they will discount the vehicle more if they finance it.
I have seen this in action when a work colleague purchased a car some years ago. After negotiations were done, the purchaser took out his check book. The dealer said “I thought you said you were financing it”. He replied “No, I said I would _consider_ financing it”. The Salesman was furious – he made a bigger commission on finance deals – and refused to sell the car at the agreed price.