Car rant: When you buy a new car youre bidding blind. You have NO idea what the dealer paid for that car or how much margin he makes. None. You may think you do by checking online sources for dealer cost, however they neglect to mention floor allowances (incentives the manufacturer offers for displayed vehicles), inventory allowances, advertising and coop allowances, overstock allowances, interest rate subsidies and loans, additional incentives, spiffs, etc. There is really no way to tell and even if the dealer shows you an invoice from the manufacturer thats only part of the picture. Seen a good lease deal? There are new car leases advertised for $35/month. Literally. But what is the total of cash required up front, the deposit, fees, prep charges, cap cost reduction and final disposition fees, etc. It is way too easy to get burned. It should be a much more transparent process for the buyer.
Posted on: Wed, 14 May 2014 03:15:56 +0000
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