The dealers usually have an arrangement with the bank to offer loans at a
certain dollar amount per $100 financed. They can "buy down" this amount
(i.e. the interest rate) instead of taking money off of the price of the
car. So if they are making enough money on the price you agreed upon, they
can offer you a lower interest rate and you walk away happy, and they still
make money. Have you ever noticed that they ask you "how much can you
afford to pay a month"
They do the same thing with trades, i.e. they adjust the trade amount to
compensate for the total price of the vehicle you agreed to buy.
-Ron M.
95 CC V6 Sport
----- Original Message -----
From: "andy levy" <andylevy@yahoo.com>
To: <dakota-truck-moderator@bent.twistedbits.net>
Sent: Wednesday, June 18, 2003 11:52 PM
Subject: Re: DML: Re: Re: Re: Figuring out a VIN#
>
> scsilverdak wrote:
> > Here's a tip for those buying a new truck
> > as Josh found out...........
> >
> > NEVER use the dealership's financing deals!
> >
> > The finance company's that dealers use are RIP-OFFS!...
> >
> > They try to charge high interest rates.
> > some as much as 15%, AND HAVE MINIMUM finance amounts
> >
> > Try your local bank or better yet.....
> >
> > a CREDIT UNION!
> >
> > credit unions will finance almost any amount on a new vehicle at rates
of
> > 7-8.25 %!!
> >
> > I know, cause I learned the hard way!!
>
> My credit union was offering 5.75%
>
> The dealer hooked me up with less than 4%
>
> What was that you were saying?
>
> --
> -andy
>
> http://home.twcny.rr.com/andylevy/ --- andylevy@yahoo.com
> --------------------------------------------
> "Whatever Adam does, do the opposite and you'll be fine"
> -Bob Tom
> --------------------------------------------
>
This archive was generated by hypermail 2b29 : Fri Feb 06 2004 - 11:46:29 EST