/biz/ - Business & Finance

>>13053684
Person saying this gets a commission on each loan financed

>>13053701
why would he company give the salesperson a comission if they could pay it for up front payments

is this commonplace?
it's a big indicator of impeding financial crisis.

>>13053719
Interest, also predatory lending tactics.

>>13053684
You didn't do it though, right?

>>13053722
Salesman here, big stores make all their money on finance. The prices are so competitive its not uncommon to lose $500 on the front, and then pick up $2500 on the back.

>>13053684

find the car you want, decide the color

search online for dealerships within X miles that have that car

send email to each of them with an exact offer paid in cash, wait for a serious reply (this is literally the only thing brokers do for finding a good deal or lease)

>>13053684

Be my girlfriend. Saved $9K to buy a decent used car. Dealer convinces her to buy a $17K car with $500 down and 19% interest.

>>13053759
The salesperson was a very talmudic Indian who used high pressure sales tactics to get me to buy a vehicle that was bait and switched from an online ad. So no.

>>13053684
why would you buy from the stealership?

and yes, when you finance the vehicle, they usually wind up getting more money in the end.
It's easier for them to talk you into getting upgrades, or come back to the stealership for maintenance, or if you wind up missing payments, they collect on the interest.

>>13053722
This is one of Zerohedge's memes they cry wolf about, increasing rates of subrime deafult, average loan term over 60 months, average financing over 30k, an impossible glut of off-lease inventory, the death of the sedan and the gouging, crowding, and cooling off of the CUV, manufacturer channel stuffing stealerships, the racket of dealerships vs direct to consumer, the Obameering 'success' of cash for clunkers, the sliding China market, chronically unladen oceanic return legs, the mexicanization of american auto mfg.

>>13053684
interest, obviously. fuck that, avoid financing shit at all costs

>>13053796
Based

>>13053789
kekkkkkk

>>13053771
Why did Ford give me a $3000 cash discount then

What's the best way to buy a car? I fucking loathe dealerships and their entire bullshit process.

>>13054830
Authorized dealerships have come a long way
The environment is pretty low pressure and the prices are almost always below msrp for new vehicles
I bought my new truck from ford for $10k under msrp after my cash discount and other discounts

>>13054830
Lol you’re a fucking pussy. Dealerships are easy.

>>13053789
>19% interest.
>19%
>nineteen motherfucking percent

Ist this even legal?

>>13053684
do you want to buy a 2018 camry with 32k mi for 15k

>>13053789
>19%
where? car loans are pretty standard at around 10%, which is retarded too

>>13054830
there should be an online tool to request offers from all local dealerships, just like there are for flights and hotels

Show a little backbone. Every organization that want you to take loans for their product is trying to cheat you. Americans can't into maths. Don't take out loans unless you absolutely need to.

>>13053789
did he then fuck her right up there in her pussy after fucking her smelly ass like that anon?

During the bull run of 2017 I was looking at Mercedes and BMW but the dealers were dismissive and I'm too autistic I never bought anything
It's all good through I had my dad buy me a new Tacoma with some bitcoin I gave him to cash out
I'll probably never buy a new car or house but I'll probably never need a job either so it works out

I sell cars.... I take up front cash

>>13053789

that's a pretty good deal anon, better than losing your money on crypto anyway

>>13053789

>>13054947
That’s nothing, the places that finance cars to people with bad credit charge 40-50% interest
It’s fucked, idk how they get away with it

>>13056003
Wait so after a year you lose 45% from the interest and also car loses 50% of it's value, so basically 95% is lost. Sounds a lot like all my crypto bags. Maybe i should've gotten a car instead.

>>13053922
Those fuckers at zerohedge, always right and always early

>>13053789
let me correct that for you
YOU now have a $17k car loan with 19% interest

>>13054826
Because Ford showed you $3000 over MSRP.

You got ripped off real bad: (1) paying MSRP, and (2) buying a shitty Ford.

>>13053922
keynsian liquidity traps, etc., etc.
they're too fucking stupid to just buy the dip

>>13053684
>>13053701

in this situation they should be giving you a .99% loan or something. that's what i got. any loan at a lower rate than inflation is free money and that sales guy got his loan financed~

>>13053684
you can pay for a car using crypto on craigslist. they have a little button on the left side saying "cryptocurrency ok" that when clicked sorts all the offers that accept crypto.

>>13053684
>Spending $25k on a vehicle.

i remember hearing that paying that much in cash can be a red flag
can't you just use a cashier's check?

I'd just take the loan as long as it's 3-4%.

>>13053789

>>13054830
CarMax has set prices

>>13057557
And autozone brake pads for your dumb ass

>>13057564
Why?

>>13053701

/thread

>>13053789

let me guess, she lives in Washington DC and is probably a reporter.....

>>13053684
are you the guy on /o/ who wanted a new accord?

>>13057572
Never shop there they avoid OEM parts and sell you cars that have been ultra wrecked

Unless you are a good mechanic you can spot uneven lines and pep boys brake pads

They go cheap on every part fuck them

Or you could get lucky and find a second hand 1 owner grandma car but good luck

The secret is to buy from original owner with clean carfax

I just purchased a 2005 Corolla for $3k

1 owner

100k miles (for a Toyota this is perfect)

Clean carfax

$3k

Winning

>>13057435
this.. why pay 25k cash when u could finance and put the 25k into LINK. you seriously dont think u can beat 4% returns in crypto

>>13056272
Over a hundred years of domestic economy dependant upon pushing leaded gas helicopters off nuclear powered aircraft carriers into trenches, parallel to a multitude of conventional 'ufo' tech for over 60 of those years. The only thing that won't be allowed is jubilee.

>>13057637
>buys female vehicle for $3k
>thinks he's winning

>>13054830
Search wealthy areas on craigslist and low ball everyone

Why buy new to start with? As soon as it leaves the lot about 10 - 15% of the value just drops. So that means you've just tossed 10 - 15% of your money out the window. Buy a nice used car for cash and laugh at the fucks who deal with high monthly car payments and insurance costs.

>>13057889
He is if that car is in decent shape. It'll last him several years. Who gives a shit who owned it before him. I drove an used 05 corolla for 4 years, sucker had 150k on it when I got it. Was top end model with all the options. Didn't give me any problems the whole time I had it. Had all black interior.

>>13057950
are you gay?

buy a bike
if you're lazy put a gasoline motor on it
no license plates, no fucking government tax, no bankers trying to 'finance' your car, no fucking insurance companies ripping you off

if you need to go somewhere quick/ too far just grab a uber/lyft
or take the bus

cars are a scam

>>13057983
Nope. But I like saving money. The real gay shit is those little smart car things that would get crushed by a semi in a heart beat.

>>13058012
get one of those little scooters that is under 40cc. If your in the city it's really all you need. Under 40cc no registration required, no special license either. Costs like $800 new.

>>13053789
Are you a onions consumer?

You're supposed to call like 10 dealerships and use them against each other to get the best prices. I thought everyone knew this.

Look into buying a mare.
It's legal in most places, and you can fuck her too.
>but i'm not living in a rural place
Then just use public transport.

Dude your better off putting that money in BNB and VIDT

Thanks me later

>>13053684
Gets bundled together with other financed autos and sold to funds (on the bottom of the ocean).

>>13053684
my supervisor went to a dealership and went to pay for a car in cash. they honestly didnt know what to do and never had someone want to pay that way lmao

a month or two later my brother did the same thing and they were like "what bank are you with, so who will be doing the financing", ect. they also didnt know what to do when he wanted to pay in cash

wtf is going on, who owns all of this shitty debt?

>>13054947
the max in NSW (australia) is like 48% p.a. but you'll never see anyone charge that unless its a loan shark of some sort

>>13058096
lmfao this. how stupid is /biz/. found the best price from within a 100mile radius, told my local dealer, he matched the price without even asking for proof and actually sold at a lost lmao.

>>13057646
yes and then link goes to zero. i mean this is the only argument for taking out low interest rate loans on depreciating "assets" like cars, but how many people who buy this shit actually put the rest of their money into an investment? close to zero

>>13058486
Don't tell him to buy prepumped coins. Get into the ground floor with things like Resistance.

>>13058054
Just learned about these electric scooters that are just under two grand. Of course, regular scooters get really good gas mileage (80mpg or so) so I'm not sure that's worth it necessarily. Scooters are cool. They might make you look like a fag but you're saving a shit load of money and projecting the fact you don't give a fuck about boomer optics. Of course if you live in the midwest like I do the harsh winters necessitate a car and lyfting everywhere is cost prohibitive.

>finance and get a better price
>pay the entire thing off with cash the next day
>profit while the scumbag care salesperson gets mad