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Akron
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I was very happy with the deal on a car that my wife accepted. I do find it funny that when you are sitting at the salesman's desk there are posters telling you what a great warranty they have, that you will likely never need the warranty and how much they concentrate on quality. Then you get to the other desk to close the deal. They then start the high pressure to buy the extra warranty's to cover all that can go wrong. They start by telling you you will not be charged full price for these extra warranty's, and then there are several rounds of further decreasing the price of these additional warranty's every time you say no. Then by the final no there is obvious frustration on their part. I also find it strange that you pay less for the car if you finance than you do paying cash. If pushed they tell you that loan can be paid off in full at anytime with no penalty. So I paid one half down cash and financed the rest which I will pay off when I receive the payment book. I save about 12% by not paying cash.
 

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On the back 9 and loving it!
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They get paid a commission if they sell an additional warranty. My buddy is an IT guy, and told me to never buy an extended warranty on any electronics. If it's going to go bad, it will probably do so quickly. If it lasts a couple of months, it will last a long time.

My Mom ran into pay less with payments deal. She was going to buy a Saturn (remember those?), and went to the local dealer. Same thing. They had an advertised deal, but to pay cash would cost her more. I told her they had a deal with, probably, a local credit union that would kick them back some of the interest so the dealer would make additional money by having it financed. There's a particular term for it, but I forget what it is.
 

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I was very happy with the deal on a car that my wife accepted. I do find it funny that when you are sitting at the salesman's desk there are posters telling you what a great warranty they have, that you will likely never need the warranty and how much they concentrate on quality. Then you get to the other desk to close the deal. They then start the high pressure to buy the extra warranty's to cover all that can go wrong. They start by telling you you will not be charged full price for these extra warranty's, and then there are several rounds of further decreasing the price of these additional warranty's every time you say no. Then by the final no there is obvious frustration on their part. I also find it strange that you pay less for the car if you finance than you do paying cash. If pushed they tell you that loan can be paid off in full at anytime with no penalty. So I paid one half down cash and financed the rest which I will pay off when I receive the payment book. I save about 12% by not paying cash.
What was the finance rate, I bought mine at 2 1/2% and to me that’s almost free money?
 

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They get paid a commission if they sell an additional warranty. My buddy is an IT guy, and told me to never buy an extended warranty on any electronics. If it's going to go bad, it will probably do so quickly. If it lasts a couple of months, it will last a long time.

My Mom ran into pay less with payments deal. She was going to buy a Saturn (remember those?), and went to the local dealer. Same thing. They had an advertised deal, but to pay cash would cost her more. I told her they had a deal with, probably, a local credit union that would kick them back some of the interest so the dealer would make additional money by having it financed. There's a particular term for it, but I forget what it is.
That term is...BS.
 

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The finance man is the dealerships savior for sinking money out of your pockets. Sounds like you did pretty well. Did you cross out the bogus doc fee and change it to 75$?
 

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Banned
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1,858 Posts
They get paid a commission if they sell an additional warranty. My buddy is an IT guy, and told me to never buy an extended warranty on any electronics. If it's going to go bad, it will probably do so quickly. If it lasts a couple of months, it will last a long time.

My Mom ran into pay less with payments deal. She was going to buy a Saturn (remember those?), and went to the local dealer. Same thing. They had an advertised deal, but to pay cash would cost her more. I told her they had a deal with, probably, a local credit union that would kick them back some of the interest so the dealer would make additional money by having it financed. There's a particular term for it, but I forget what it is.
"Shotgunning" is filing your application with 10+ lenders at once.
 
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