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> A car lot salesman told me once that the dealerships don't make money selling cars - they make the money selling financing. I believe it. I prefer to pay cas
by droithomme 7y ago
> A car lot salesman told me once that the dealerships don't make money selling cars - they make the money selling financing.
I believe it. I prefer to pay cash for cars, and it is extremely difficult to purchase new cars for cash at many dealerships. They don't like it and will do things like refuse to honor advertised prices.
- LynxInLA 7y agoThat's why a lot of people do financing, pay the first monthly payment so that the seller/financer gets their kickback, and then pay off the rest of the loan on day 31.
- wingspar 7y agoI don’t even do that. Bought the last car in a Friday with their fiancé guy matching my credit union rate. Went in to th credit union on Monday and refinanced the loan, paying off the loan from the dealer. The dealer wanted over twice what the credit union wanted for GAP insurance.
- deleted 7y ago[deleted]
- to11mtm 7y agoIn some cases if you pay it off in less than 3-6 months the kickback doesn't happen. Of course, there's nothing they can do at that point...
- lonelappde 7y agoWhy buy a new car?