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Mr. Luddite

On 5/13/2017 11:34 AM, wrote:
On Sat, 13 May 2017 11:10:08 -0400, wrote:

On Sat, 13 May 2017 08:22:50 -0400, "Mr. Luddite"
wrote:

I didn't think about it but I suspect you are right about these offers.
I'll bet they only apply if you finance it through them. It just starts
the interest cycle over again.

I haven't financed a car purchase in about 25 years.
They dealerships don't like cash buyers. I was told that only 8 percent
of buyers pay cash for a new car.

When I bought my truck in 2008 the salesman tried hard to convince me to
finance it through Ford but I told him I wasn't interested. He then
tried to get me to finance it, even if I just paid it off in a month or
two. They must get some kind of kickback if the vehicle is financed
through the financing arm of the manufacturer.

These deals are deals because people finance and don't look at the end
date. "My payments are almost the same". They don't mention that it is
the same for 5 more years.
I suppose it is fine if you are consigned to dying with a car payment
due.
Like you, I have not really financed a car for decades but I did take
the finance deal with Ford on my wife's Lincoln. You are right, I got
the guy to admit I only had to keep the note for 90 days (by then they
have sold the paper). I also had to finance a minimum of ~$10,000 to
get a $1000 kick back so that is exactly what I did. I ended up making
about $600 after all of the finance charges and that was only about 4
months. It was still worth doing. I wonder how many people read the
"Z" form to see what the actual cost of a financed car is.
BTW that "zero percent" money comes at a cost too. They will usually
knock off 2 grand if you don't take "zero percent" money and there is
another kickback for using their financing but you have to waive the
cash at them before they offer it up.
I usually spring the cash on them at the last minute and see how badly
they want to sell the car.

===

And after making your best deal possible you still have too make it by
the "closer" who is selling the extended warranty, undercoating, pin
stripes, mud flaps, vinyl roof, etc. I once made a pretty good deal
on a new Camry only to have my wife get sucked into the pin stripe
deal for something like $200.

As I've previously mentioned, we've bought several cars from the same
dealership over the years including a couple of "company" cars that I
had in the business. The owner and some of the people who have worked
there for a while know us well.

When we went into the financial guy's office to fill out all the
paperwork I told him up front that we can save some time because we were
not interested in all the extra stuff they try to sell you. He said he
had to go through it anyway by policy. So, he did and we declined it
all. I asked him how long he has been at the dealership and it turns
out it was his first week on the job. So, I said, "In that case, we
should be welcoming *you* here.