Comments on: Car Financing Insider Secrets

By: alex

alex — Thu, 29 Jul 2010 23:04:48 +0000

Thanks for the info. this site is good and informative and i suggest my friend to visit this site. Online Finance

By: habika

habika — Thu, 10 Jun 2010 09:18:14 +0000

I used to work at car dealerships too. More often than not, customers do reveal what they’re willing to pay for. On another perspective, buyers have very unrealistic expectations with their budget… like, they want a top-of-the-line, late model car on a $200/month budget with little or no down and a 5-year loan. Not gonna happen. Just do the math… 200 x 60 = $12000. No matter how you wring the salesperson or the dealership, they won’t be able to sell you a vehicle that costs $30,000 to $50,000 MSRP.

By: UH

UH — Fri, 12 Feb 2010 01:46:28 +0000

You are either with these hawks or you’re against them and everywhere they swoop for the kill they will be welcome because the alternative is endorse systemic pillaging, fiscal child rape, etc, sir.

By: MyLifeROI

MyLifeROI — Mon, 08 Feb 2010 18:30:10 +0000

@David/yourfinances101,

I just email every local dealership exactly what car I want. I let them duke it out until I am at or below invoice and then I go in and buy it.

Apparently some dealers won’t play this game. But the bigger ones usually will because they still make money once you count the holdback.

By: MyLifeROI

MyLifeROI — Mon, 08 Feb 2010 18:28:54 +0000

@arm-and-leg-safe shopper,

Yep. “Get me in that Lexus for $200/mo and I’ll take it!” Not even a tricky salesman will be able to work that… unless it’s a lease with a large lump sum due at signing, I guess.

By: MyLifeROI

MyLifeROI — Mon, 08 Feb 2010 18:27:12 +0000

@Craig,

What Kosmo said. But make sure there are no early payoff penalties!

By: MyLifeROI

MyLifeROI — Mon, 08 Feb 2010 18:26:13 +0000

@Kyle C.,

Yeah, and know how to do a total cost calculation for the life of the loan.

I was looking for 36 month loans. If I used private financing I would lose out on a $500 rebate. If I used their financing (a full 2% points higher), I would get the rebate.

They tried to just tell me “Well, guess you are going private financing since its lower interest by so much.. right?”

I ran the numbers and the higher interest rate with the rebate made more sense.. and that’s over 36 months. I’m going to pay it off in ~10 months… making it an even better deal.

Never take anything for granted with car sales and financing!

By: Money Making Sense » Blog Archive » Weekend Roundup

Money Making Sense » Blog Archive » Weekend Roundup — Fri, 29 Jan 2010 01:50:48 +0000

[...] shares some great advice on insider secrets of car [...]

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Tue, 26 Jan 2010 14:45:32 +0000

@Craig, It’s not too late. Chat with your bank. If they’re willing to loan you the money, you could get a loan from them and pay off the balance of the loan with the dealer. It would have been optimal to do this at square 1, but it might still makes sense, esp if you can get a good rate.

I’ve only financed one car through a dealership. It was at 0.9%, which was hard to pass up :)
Kosmo @ The Casual Observer´s last blog ..Bad Baseball Contracts

By: David/yourfinances101

David/yourfinances101 — Tue, 26 Jan 2010 03:59:07 +0000

To always be prepared, willing and able to get up and walk out of a place. They can’t stand that. I almost feel as though I haven’t gotten the best deal if I don’t do this at least once during the process