Monday, December 27, 2010

Dealers Disguise Profits

In magizine

Dealers Disguise Profits
the Center for Responsible Lending says car buyers pay an extra $20 billion a year because dealers routinely mark up the interest rate of loans they boker. And dealers pad profits with such contract concoctions as preparation fees for cleaning your vehicle ( which automakers often pay), advertising charges (if these show up at closing, balk), and even life insurance to pay off your loan should you die. As always: Buyer beware.

Each 1-mpg boost in fuel efficiency can save you $1000.00 over ten years? That means $100.00 per year for ten years. Yet your paying how much more for that new vehicle?

Trade-ins cost you up to 25% of full value. Sell the car yourself that use that to make a good down payment.Suggested 20% down payment and a four year loan.

Consider buying used: The newer car, the pricier your insurance. In other words you might save putting it in the gas tank but you get to pay the insurance man.....

No comments:

Post a Comment